1999 No. 1235
The Social Security Revaluation of Earnings Factors Order 1999
Made
Laid before Parliament
Coming into force
The Secretary of State for Social Security, in exercise of the powers conferred on him by sections 148(3) and (4) and 189(5) of the Social Security Administration Act 19921 and of all other powers enabling him in that behalf, having on a review under the said section 148 concluded, having had regard to earlier orders under that section2, that earnings factors3 for the relevant previous tax years have not, during the period taken into account for that review, maintained their value in relation to the general level of earnings obtaining in Great Britain, hereby makes the following Order:
Citation and commencement1
This Order may be cited as the Social Security Revaluation of Earnings Factors Order 1999 and shall come into force on 26th May 1999.
Revaluation of earnings factors2
The earnings factors for tax years specified in the Schedule to this Order, in so far as they are relevant4–
a
to the calculation–
i
of the additional pension in the rate of any long-term benefit; or
ii
of any guaranteed minimum pension; or
b
to any other calculation required under Part III of the Pension Schemes Act 1993 (including that Part as modified by or under any other enactment),
are directed to be increased for those tax years by the percentage of their amount shown opposite those tax years in that Schedule.
Rounding of fractional amounts3
Where any earnings factor relevant to the calculation specified in article 2(a)(i) of this Order, as increased in accordance with this Order, would not but for this article be expressed as a whole number of pounds, it shall be so expressed by the rounding down of any fraction of a pound less than one half and the rounding up of any other fraction of a pound.
Signed by authority of the Secretary of State for Social Security.
SCHEDULE
Tax Year | Percentage |
---|---|
1978/79 | 419.5 |
1979/80 | 358.2 |
1980/81 | 283.0 |
1981/82 | 221.1 |
1982/83 | 191.4 |
1983/84 | 170.1 |
1984/85 | 150.1 |
1985/86 | 134.7 |
1986/87 | 115.6 |
1987/88 | 100.8 |
1988/89 | 84.6 |
1989/90 | 67.2 |
1990/91 | 55.8 |
1991/92 | 41.5 |
1992/93 | 33.0 |
1993/94 | 26.6 |
1994/95 | 22.8 |
1995/96 | 17.6 |
1996/97 | 14.1 |
1997/98 | 9.4 |
1998/99 | 4.2 |
(This note is not part of the Order)