{
  "url": "https://openlegislation.uk/social-security-revaluation-of-earnings-factors-order-2002/note",
  "json_url": "https://openlegislation.uk/social-security-revaluation-of-earnings-factors-order-2002/note.json",
  "legislation": "uksi/2002/519",
  "legislation_title": "The Social Security Revaluation of Earnings Factors Order 2002",
  "legislation_url": "https://openlegislation.uk/social-security-revaluation-of-earnings-factors-order-2002",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order is made consequent upon a review under section 148 of the Social Security Administration Act 1992.\nThis Order directs that the earnings factors relevant to the calculation of the additional pension in the rate of any long-term benefit or of any guaranteed minimum pension, or to any other calculation required under Part III of the Pension Schemes Act 1993, are to be increased for the tax years specified in the Schedule to the Order by the percentage of their amount specified in that Schedule. The percentages specified in this Order for the tax years 2000–01 and 2001–02 are also relevant for the purposes of revaluing state scheme pension credits and debits in accordance with sections 45B, 55A and 55B of the Social Security Contributions and Benefits Act 1992. The percentage for the tax year 2001–02 is 4.3 per cent., and those for earlier tax years have been increased so that the earnings factors for those years are revalued at 2001–02 earnings levels.\nThe Order also provides for the rounding of fractional amounts for earnings factors relevant to the calculation of the additional pension in the rate of any long-term benefit. Rounding for the purpose of the calculation of any guaranteed minimum pension is not required by virtue of section 23(2) of the Social Security Contributions and Benefits Act 1992.\nThis Order does not impose any new costs on business.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2002/519/note",
    "retrieved_at": "2026-10-29T07:13:41.276366+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}