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The Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2004

S.R. 2004/79 · Made 4 March 2004

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

PENSIONS

Made 4th March 2004

Coming into operation 6th April 2004

Whereas the Secretary of State for Work and Pensions has made an Orderf1 under section 109(4) of the Pension Schemes Act 1993f2:

Now, therefore, the Department for Social Development, in exercise of the powers conferred by section 105 of the Pension Schemes (Northern Ireland) Act 1993f3, and now vested in itf4, and of all other powers enabling it in that behalf, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

S.I. 2004/537

f2

1993 c. 48

f3

1993 c. 49; section 105(1) was amended by Article 55 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22))

f4

See Article 8(b) of S.R. 1999 No. 481

Contents

  1. 1Citation, commencement and interpretation
  2. 2Increase of guaranteed minimum pensions
  3. Signature
  4. Explanatory note

1Citation, commencement and interpretation

(1)

This Order may be cited as the Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2004 and shall come into operation on 6th April 2004.

(2)

In this Order “relevant period” has the same meaning as in section 109(3A) of the Pension Schemes Act 1993f1.

(3)

The Interpretation Act (Northern Ireland) 1954f2 shall apply to this Order as it applies to an Act of the Assembly.

2Increase of guaranteed minimum pensions

For the purposes of section 105(1) of the Pension Schemes (Northern Ireland) 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 2·8 per cent.

Signature

Sealed with the Official Seal of the Department for Social Development on 4th March 2004.

L.S.

John O'Neill

Senior Officer of the

Department for Social Development

Explanatory note

(This note is not part of the Order.)

This Order, which corresponds to an Order (S.I. 2004/537) made by the Secretary of State for Work and Pensions under section 109(4) of the Pension Schemes Act 1993, 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 1988-1989 to 1996-1997 and payable by contracted-out, defined benefit occupational pension schemes is to be increased.