Social Security Pensions Act 1975

52A Duty of Secretary of State to specify revaluation percentage. E+W+S

(1) The Secretary of State shall in each revaluation year by order specify a revaluation percentage for each revaluation period.

(2) In this section—

• “revaluation period”, in relation to each order under this section, means a period—

(a) which commences—

(i) on the date of the commencement of this section; or

(ii) on an anniversary of the date of the commencement of this section falling before the making of the order; and

(b) which ends on the day before the first anniversary of the date of the commencement of this section to fall after the making of the order; and

“revaluation year” means a year beginning on the date of the commencement of this section or on an anniversary of that date.

(3) Subject to subsection (8) below, the revaluation percentage which the Secretary of State is to specify in relation to each revaluation period is the percentage which appears to him [F1 to be the percentage increase in the general level of prices obtaining in Great Britain during the period which is the reference period in relation to that revaluation period, estimated in such manner as he thinks fit.]

(4) The reference period in the case of the revaluation period to which the first order under this section relates is any period of 12 months—

(a) which ends not earlier than 6 months before the date on which the order is made; and

(b) for which it appears to the Secretary of State that information is available to him sufficient to enable him to determine the percentage increase in prices in Great Britain satisfactorily.

(5) The reference period in the case of any revaluation period to which a subsequent order relates is to be determined in accordance with subsection (6) or (7) below.

(6) In the case of the revaluation period with the earliest commencement date the reference period is the period which—

(a) begins at the commencement of the reference period mentioned in subsection (4) above; and

(b) ends on the latest anniversary of the end of that period to fall before the making of the order.

(7) In the case of each of the other revaluation periods the reference period is the period which—

(a) begins on the last anniversary of the commencement of the reference period mentioned in subsection (4) above to fall before the commencement of the revaluation period; and

(b) ends on the last anniversary of the end of that reference period to fall before the making of the order.

[F2 (8) Where, apart from this subsection, the revaluation percentage in relation to a revaluation period would exceed the maximum rate, the Secretary of State shall instead specify as the revaluation percentage for that period a percentage equal to the maximum rate.

(9) For the purposes of subsection (8) above, “the maximum rate”, in relation to a revaluation period, is—

(a) in the case of a revaluation period of 12 months, 5 per cent.; and

(b) in any other case, the percentage that would be the revaluation percentage had the general level of prices increased at the rate of 5 per cent. compound per annum during the reference period in question.]

Textual Amendments

F1 Words substituted (with effect from 1.10.1989) by Social Security Act 1989 (c. 24), Sch. 6, para. 13(1)

F2 S. 52A(8) and (9) substituted (with effect from 1.10.1989) for subsection (8) by Social Security Act 1989 (c. 24), Sch. 6, para. 13(2)