2022 No. 216
The Social Security Revaluation of Earnings Factors Order 2022
Made
Laid before Parliament
Coming into force
In accordance with section 148(2) of the Social Security Administration Act 19921, the Secretary of State for Work and Pensions has reviewed the general level of earnings obtaining in Great Britain.
The Secretary of State has concluded, having regard to earlier orders made under section 1482 of that Act, that earnings factors3 for the relevant tax years have not, during the period taken into account for that review, maintained their value in relation to the general level of earnings.
Accordingly, the Secretary of State makes this Order in exercise of the powers conferred by sections 148(3) and (4) and 189(4) and (5) of the Social Security Administration Act 19924.
Citation, commencement and extent1
1
This Order may be cited as the Social Security Revaluation of Earnings Factors Order 2022 and comes into force on 6th April 2022.
2
This Order extends to England and Wales and Scotland.
Revaluation of earnings factors2
Earnings factors for the tax years specified in the Schedule to this Order in so far as they are relevant—
a
to the calculation of–
i
the additional pension in the rate of any long-term benefit; or
ii
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 directed7 to be increased 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), as increased in accordance with this Order, would not but for this article be expressed as a whole number of pounds, it is to 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 factors for specified tax years
Tax year | Percentage increase |
---|---|
1978-1979 | 955.7 |
1979-1980 | 831.7 |
1980-1981 | 678.4 |
1981-1982 | 551.9 |
1982-1983 | 492.1 |
1983-1984 | 449.8 |
1984-1985 | 409.1 |
1985-1986 | 377.5 |
1986-1987 | 338.5 |
1987-1988 | 308.3 |
1988-1989 | 275.6 |
1989-1990 | 239.0 |
1990-1991 | 215.9 |
1991-1992 | 187.0 |
1992-1993 | 169.4 |
1993-1994 | 156.6 |
1994-1995 | 148.9 |
1995-1996 | 138.4 |
1996-1997 | 131.9 |
1997-1998 | 120.9 |
1998-1999 | 111.2 |
1999-2000 | 102.6 |
2000-2001 | 90.6 |
2001-2002 | 83.3 |
2002-2003 | 75.7 |
2003-2004 | 69.6 |
2004-2005 | 63.4 |
2005-2006 | 57.0 |
2006-2007 | 51.8 |
2007-2008 | 45.9 |
2008-2009 | 40.0 |
2009-2010 | 35.8 |
2010-2011 | 34.2 |
2011-2012 | 31.1 |
2012-2013 | 28.8 |
2013-2014 | 26.5 |
2014-2015 | 25.4 |
2015-2016 | 23.6 |
2016-2017 | 21.1 |
2017-2018 | 18.1 |
2018-2019 | 14.6 |
2019-2020 | 11.5 |
2020-2021 2021-2022 | 7.2 4.5 |
(This note is not part of the Order)