The State Pension Revaluation for Transitional Pensions Order 2020
| Jurisdiction | UK Non-devolved |
| Citation | SI 2020/6 |
2020 No. 6
SOCIAL SECURITY
The State Pension Revaluation for Transitional Pensions Order 2020
Made 6thJanuary 2020
Laid before Parliament 7thJanuary 2020
Coming into force in accordance with article 1(2)
The Secretary of State for Work and Pensions has carried out a review in accordance with section 148AC(1) of the Social Security Administration Act 1992(1) and it appeared to the Secretary of State that the general level of prices in Great Britain has increased during the review period(2).
Accordingly the Secretary of State makes the following Order in exercise of the powers conferred by sections 148AC(3) and 189(1) and (4) of the Social Security Administration Act 1992(3).
Citation and commencement
1.—(1) This Order may be cited as the State Pension Revaluation for Transitional Pensions Order 2020.
(2) This Order comes into force on—
(a) 29th January 2020 for the purpose of making an award on a claim for a state pension under regulation 15(1) of the Social Security (Claims and Payments) Regulations 1987 (advance notice of retirement and claim for and award of pension)(4) to a person who reaches pensionable age(5) on or after 7th April 2020; and
(b) 6th April 2020 for all other purposes.
(3) In this article “a state pension” means a state pension under Part 1 of the Pensions Act 2014(6).
Increase in the general level of prices
2. For the purposes of section 148AC(3) and (4) of the Social Security Administration Act 1992 (revaluation for transitional pensions under Pensions Act 2014), the increase in the general level of prices during the review period is 8.2 per cent.
Signed by authority of the Secretary of State for Work and Pensions
6th January 2020 |
Guy Opperman Parliamentary Under Secretary of State Department for Work and Pensions |
EXPLANATORY NOTE
(This note is not part of the Order)
This Order is made following a review under section 148AC(1) of the Social Security Administration Act 1992 (c. 5)(“the Administration Act”) (revaluation for transitional pensions under Pensions Act 2014 (c. 19)).
The Pensions Act 2014 created a new state pension for persons reaching pensionable age on or after 6th April 2016 (see Part 1 of that Act). Pensionable age has the meaning given by the rules in paragraph 1 of Schedule 4 to the Pensions Act 1995 (c. 26). The part of a person's new state pension based on their pre-April 2016 contribution record that exceeds the full rate of the new state pension as at 6th April 2016 is commonly referred...
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