Explanatory note

This Order specifies that, for the purposes of section 178(3)(a) of the Pensions Act 2004 (c.35) (“the Act”), the earnings percentage for the period from 31st July 2006 to 31st July 2007 (“the review period”) is 3.6 per cent.

Section 178(6) of the Act specifies that the earnings percentage is the percentage by which it appears to the Secretary of State that the general level of earnings in Great Britain has increased during the review period.

An Impact Assessment has not been prepared for this instrument as it has no impact on business, charities or voluntary bodies.