2009 No. 608
The Social Security Revaluation of Earnings Factors Order 2009
Made
Laid before Parliament
Coming into force
In accordance with subsection (2) of section 148 (revaluation of earnings factors) of the Social Security Administration Act 19921, the Secretary of State has reviewed the general level of earnings obtaining in Great Britain.
The Secretary of State has concluded, having regard to earlier orders made 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.
The Secretary of State makes the following Order in exercise of the powers conferred upon him by section 148(3) and (4) and section 189(1), (4) and (5) of the Social Security Administration Act 19924.
Citation and commencement1
This Order may be cited as the Social Security Revaluation of Earnings Factors Order 2009 and shall come into force on 6th April 2009.
Revaluation of earnings factors2
The earnings factors for tax years specified in the Schedule to this Order in so far as they are relevant—
a
to the calculation—
i
of the additional pension in the rate of any long-term benefit; or
ii
of any guaranteed minimum pension5; or
b
to any other calculation required under Part 3 of the Pension Schemes Act 19936 (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 rounding down any fraction of a pound less than one half and rounding up any other fraction of a pound.
Signed by authority of the Secretary of State for Work and Pensions.
SCHEDULEPercentage increase of earnings factor for specified tax years
Tax year | Percentage increase |
---|---|
1978 - 1979 | 677.6 |
1979 - 1980 | 586.3 |
1980 - 1981 | 473.3 |
1981 - 1982 | 380.2 |
1982 - 1983 | 336.1 |
1983 - 1984 | 305.0 |
1984 - 1985 | 275.0 |
1985 - 1986 | 251.7 |
1986 - 1987 | 223.0 |
1987 - 1988 | 200.7 |
1988 - 1989 | 176.7 |
1989 - 1990 | 149.7 |
1990 - 1991 | 132.7 |
1991 - 1992 | 111.4 |
1992 - 1993 | 98.5 |
1993 - 1994 | 89.0 |
1994 - 1995 | 83.3 |
1995 - 1996 | 75.6 |
1996 - 1997 | 70.8 |
1997 - 1998 | 62.7 |
1998 - 1999 | 55.5 |
1999 - 2000 | 49.3 |
2000 - 2001 | 40.4 |
2001 - 2002 | 35.0 |
2002 - 2003 | 29.5 |
2003 - 2004 | 25.0 |
2004 - 2005 | 20.4 |
2005 - 2006 | 15.6 |
2006 - 2007 | 11.8 |
2007 - 2008 | 7.4 |
2008 - 2009 | 3.1 |
(This note is not part of the Order)