# The Guaranteed Minimum Pensions Increase Order 2006

Draft 2006, ISBN 0110739264

This Order specifies 2.7 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) of the Pension Schemes Act 1993 (c. 48) 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.

## Introductory text

Draft Order laid before Parliament under section 109(2) of the Pension Schemes Act 1993, for approval by resolution of each House of Parliament.
pensions
Made 2006
Coming into force 6th April 2006
The Secretary of State has reviewed the general level of prices in Great Britain for the period of 12 months commencing on 1st October 2004 as required by section 109(1) of the Pension Schemes Act 1993, and it appears to him that the general level of prices was greater by 2.7 per cent. at the end of that period than it was at the beginning of that period;
A draft of the following Order was laid before Parliament in accordance with section 109(2) of that Act and approved by a resolution of each House;
Accordingly, the Secretary of State for Work and Pensions, in exercise of the power conferred by section 109(4) of that Act, makes the following Order.

## 1 Citation and commencement

This Order may be cited as the Guaranteed Minimum Pensions Increase Order 2006 and shall come into force on 6th April 2006.

## 2 Increase of guaranteed minimum pensions

For the purposes of section 109(2) and (3) of the Pension Schemes Act 1993 the percentage by which there is to be an increase in the rate of that part of any guaranteed minimum pension which is attributable to earnings factors for the tax years in the relevant period shall be 2.7 per cent.

## Signature

Signed by authority of the Secretary of State for Work and Pensions.
Minister of State,
Department for Work and Pensions
2006

## Explanatory note

(This note is not part of the Order)
This Order specifies 2.7 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) of the Pension Schemes Act 1993 (c. 48) 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.
A full regulatory impact assessment has not been produced for this instrument as it has no new impact on the costs of business, charities, voluntary bodies and the public sector.

---
Source: https://www.legislation.gov.uk/ukdsi/2006/0110739264 (the official version)
Page: https://openlegislation.uk/draft-guaranteed-minimum-pensions-increase-order-2006
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.