Statutory Instruments
2012 No. 189
Social Security
The Social Security Pensions (Flat Rate Accrual Amount) Order 2012
Made
26th January 2012
Laid before Parliament
31st January 2012
Coming into force
6th April 2012
In accordance with section 148AA(1) (revaluation of flat rate accrual amount) of the Social Security Administration Act 1992( 1 ), the Secretary of State has reviewed the general level of earnings obtaining in Great Britain.
It appears to the Secretary of State that the general level of earnings has increased during the review period.
The Secretary of State makes the following Order in exercise of the powers conferred on him by section 148AA(3) to (6) of the Social Security Administration Act 1992.
Citation and commencement
1. This Order may be cited as the Social Security Pensions (Flat Rate Accrual Amount) Order 2012 and shall come into force on 6th April 2012.
Flat Rate Accrual Amount
2. For the purpose of paragraph 13(2) of Schedule 4B to the Social Security Contributions and Benefits Act 1992( 2 ), the flat rate accrual amount for the tax year beginning 6th April 2012 and subsequent tax years shall be £88.40.
Signed by authority of the Secretary of State for Work and Pensions.
Steve Webb
Minister of State,
Department for Work and Pensions
26th January 2012
1992 c.5 . Section 148AA was inserted by paragraph 2 of Schedule 2 to the Pensions Act 2007 (c.22) .
1992 c.4 . Schedule 4B was inserted by paragraph 1 of Schedule 2 to the Pensions Act 2007 (c. 22) .