Statutory Instruments
2020 No. 7
Social Security
The State Pension Debits and Credits (Revaluation) Order 2020
Made
6th January 2020
Laid before Parliament
7th January 2020
Coming into force in accordance with article 1(2)
The Secretary of State for Work and Pensions has reviewed the general level of prices in Great Britain in accordance with section 148AD(1) of the Social Security Administration Act 1992( 1 ).
The Secretary of State has had regard to the earlier orders under that section, and it appears to the Secretary of State that relevant debits or credits have not, during the review period, maintained their value in relation to the general level of prices( 2 ).
Accordingly the Secretary of State makes the following Order in exercise of the powers conferred by sections 148AD(2) and (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 Debits and Credits (Revaluation) 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 amount of relevant debits or credits
2. For the purposes of paragraph 3 of each of Schedules 8 and 10 to the Pensions Act 2014(pension sharing: appropriate weekly rate and reduction), the amount of relevant debits or credits for the tax year specified in the first column of the table set out in the Schedule to this Order is to be increased by the percentage of their amount specified in the corresponding entry in the second column.
Signed by authority of the Secretary of State for Work and Pensions
Guy Opperman
Parliamentary Under Secretary of State
Department for Work and Pensions
6th January 2020
Article 2
SCHEDULE Percentage increase of the amounts of relevant debits or credits for the specified tax years
| Tax year | Percentage increase |
|---|---|
| 2016-2017 | 8.3 |
| 2017-2018 | 7.3 |
| 2018-2019 | 4.2 |
| 2019-2020 | 1.7 |
1992 c. 5 ; section 148AD was inserted by paragraph 8 of Schedule 11 to the Pensions Act 2014 (c. 19) .
See section 148AD(2) and (7) of the Social Security Administration Act 1992 (c. 5) . Previous orders under that section were S.I. 2017/375 , 1152 and 2018/1219 .
Section 189 was amended by paragraph 109 of Schedule 7, and Schedule 8, to the Social Security Act 1998 (c. 14) , paragraph 57(1) and (2) of Schedule 3 to the Social Security Contributions (Transfer of Functions, etc.) Act 1999 (c. 2) , Schedule 6 to the Tax Credits Act 2002 (c. 21) and S.I. 2013/252 . There are other amendments to section 189 but none is relevant to this Order.
S.I. 1987/1968 ; regulation 15(1) was amended by S.I. 2005/1551 and 2015/1985 .
For the meaning of “pensionable age” see section 191 of the Social Security Administration Act 1992, which refers to paragraph 1 of Schedule 4 to the Pensions Act 1995 (c. 26) .