- Latest available (Revised)
- Original (As enacted)
Pension Schemes Act 1993, Part V is up to date with all changes known to be in force on or before 03 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Ss. 102-108 repealed (6.4.1997) by Pensions Act 1995 (c. 26), s. 180(1), Sch. 3 para. 25, Sch. 7 Pt. I; S.I. 1997/664, art. 2(3), Sch. Pt. II (with art. 6)
(1)The Secretary of State shall in each tax year review the general level of prices in Great Britain for the period of 12 months commencing at the end of the period last reviewed under this section.
(2)Where it appears to the Secretary of State that that level has increased at the end of the period under review, he shall lay before Parliament the draft of an order specifying a percentage by which there is to be an increase of the rate of that part of guaranteed minimum pensions which is attributable to earnings factors for [F2the tax years in the relevant period] for—
(a)earners who have attained pensionable age; and
(b)[F3widows, widowers and surviving civil partners].
(3)The percentage shall be—
(a)the percentage by which that level has increased at the end of the period under review; or
(b)3 per cent.,
whichever is less.
[F4(3A)The relevant period is the period—
(a)beginning with the tax year 1988-89, and
(b)ending with the last tax year that begins before the principal appointed day F5...]
(4)If a draft order laid before Parliament in pursuance of this section is approved by a resolution of each House, the Secretary of State shall make the order in the form of the draft.
(5)An order under this section shall be so framed as to bring the alterations to which it relates into force on the first day of the next tax year after that in which the order is made.
(6)Where the benefits mentioned in section 46(1) to (7) are not increased on the day on which an order under this section takes effect, the order shall be treated for the purposes of that section as not taking effect until the day on which those benefits are next increased.
Textual Amendments
F2Words in s. 109(2) substituted (4.2.1997) by Pensions Act 1995 (c. 26), ss. 55(a), 180(1) (with s. 121(5)); S.I. 1997/216, art. 2(2)
F3Words in s. 109(2)(b) substituted (5.12.2005) by The Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 (S.I. 2005/2050), art. 1(3), Sch. 1 para. 22
F4S. 109(3A) inserted (4.2.1997) by Pensions Act 1995 (c. 26), ss. 55(b), 180(1) (with s. 121(5)); S.I. 1997/216, art. 2(2)
F5Words in s. 109(3A)(b) omitted (6.4.2016) by virtue of Pensions Act 2014 (c. 19), s. 56(4), Sch. 13 para. 40
Modifications etc. (not altering text)
C1S. 109 modified (6.4.2000) by The Guaranteed Minimum Pensions Increase Order 2000 (S.I. 2000/425), arts. 1, 2
Commencement Information
I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2
(1)Except as permitted by [F6section 53 of the Pensions Act 1995], the trustees or managers of a scheme may not make an increase in a person’s pension which is required by virtue of section 109 out of money which would otherwise fall to be used for the payment of benefits under the scheme to or in respect of that person unless—
(a)the payment is to an earner in respect of the tax year in which he attains pensionable age and the increase is the one required to be made in the next tax year; or
(b)the payment is to a person as the [F7widow, widower or surviving civil partner] of an earner who died before attaining pensionable age and is in respect of the tax year in which the person became a [F7widow, widower or surviving civil partner], and the increase is the one required to be made in the next tax year.
F8(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F8(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F8(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F6Words in s. 110(1) substituted (6.4.1997) by Pensions Act 1995 (c. 26), ss. 53(4)(b), 180(1) (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. 2
F7Words in s. 110(1)(b) substituted (5.12.2005) by The Civil Partnership (Contracted-out Occupational and Appropriate Personal Pension Schemes) (Surviving Civil Partners) Order 2005 (S.I. 2005/2050), art. 1(3), Sch. 1 para. 23
F8S. 110(2)-(4) repealed (6.4.1997) by Pensions Act 1995 (c. 26), ss. 53(4)(a), 180(1), Sch. 7 Pt. I (with s. 121(5)); S.I. 1997/664, art. 2(3), Sch. Pt. 2
Commencement Information
I1Ss. 1-187 in force at 7.2.1994 by S.I. 1994/86, art. 2
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: