PART 2SOCIAL SECURITY BENEFITS AND PENSIONS
Increase in rates or amount of certain benefits under the Pension Schemes ActI15
It is directed34 that the sums which are payable by virtue of section 15(1) of the Pension Schemes Act (increase of guaranteed minimum where commencement of guaranteed minimum pension postponed) to a person who is also entitled to a Category A or Category B retirement pension (including sums payable by virtue of section 17(2)35 and (3) of that Act) shall be increased by—
a
10.1 per cent where the increase under section 15(1) is attributable to earnings factors for the tax year 1987-88 and earlier tax years36; and
b
7.1 per cent where the increase under section 15(1) is attributable to earnings factors for the tax years 1988-89 to 1996-97 inclusive.