# The Guaranteed Minimum Pensions Increase Order (Northern Ireland) 2005, Note: Explanatory note


(This note is not part of the Order.)
This Order, which corresponds to an Order (S.I. 2005/521) made by the Secretary of State for Work and Pensions under section 109(4) of the Pension Schemes Act 1993, specifies 3 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.
This Order does not impose a charge on business.

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Source: https://www.legislation.gov.uk/nisr/2005/81/note (the official version)
Page: https://openlegislation.uk/guaranteed-minimum-pensions-increase-order-northern-ireland-2005/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.