EXPLANATORY NOTE
(This note is not part of the Order)
The Order is made as a consequence of a review under section 150A of the Social Security Administration Act 1992 (“the Administration Act”) and includes details of the sums mentioned in that section.
Article 3 and the Schedule increase certain benefits specified in Parts I, III and V of Schedule 4 to the Social Security Contributions and Benefits Act 1992. These are the amounts of a Category B and D retirement pension and widow’s pension (apart from the amount of the initial rate) and widower’s pension in industrial death benefit.
Article 4 increases the amount of the basic pension in a Category A retirement pension.
Article 5 increases the amount of a Category C retirement pension.
Article 6 increases the amount of the standard minimum guarantee in state pension credit.
In accordance with section 150A(5) of the Administration Act, a copy of the report of the Government Actuary giving his opinion on the likely effect on the National Insurance Fund of the making of this Order was laid before Parliament with the draft Order.
An Impact Assessment has not been published for this instrument as it has no new impact on business or civil society organisations.