Statutory Instruments
2011 No. 169
Pensions
The Occupational Pension Schemes (Levy Ceiling – Earnings Percentage Increase) Order 2011
Made
31st January 2011
Laid before Parliament
3rd February 2011
Coming into force
9th March 2011
The Secretary of State for Work and Pensions makes the following Order in exercise of the power conferred by section 178(6) of the Pensions Act 2004( 1 ).
In accordance with section 178(5) of that Act, the Secretary of State has reviewed the general level of earnings obtaining in Great Britain during the period of 12 months ending with 31st July 2010.
Citation and commencement
1. This Order may be cited as the Occupational Pension Schemes (Levy Ceiling – Earnings Percentage Increase) Order 2011 and shall come into force on 9th March 2011.
The earnings percentage
2. For the purposes of section 178(3)(a) of the Pensions Act 2004 (the levy ceiling), the percentage by which it appears to the Secretary of State that the general level of earnings has increased during the review period( 2 ) is 2.4%.
Signed by authority of the Secretary of State for Work and Pensions.
Steve Webb
Minister of State,
Department for Work and Pensions
31st January 2011
See section 178(4) of the Pensions Act 2004 and regulation 3 of S.I. 2006/2692 which provide that the review period is the period of 12 months ending with 31st July 2010.