Guaranteed Minimum Pensions Increase Order 2004 comes into force
Implementation date: 6 April 2004
The Order is made in consequence of a review under the Pension
Schemes Act 1993, section 109(1). The Order specifies 2.8 per cent as the
percentage by which that part of any guaranteed minimum pension attributable to
earnings factors for the tax years 1988-89 to 1996-97 and payable by
contracted-out, defined benefit occupational pension schemes is to be
increased. Under section 109(3) the percentage to be specified is the actual
percentage increase in the general level of prices in the period under review or
3 per cent, whichever is less. The Order can
be viewed on the OPSI website.
More from XpertHR on this item: XpertHR reference manual