- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Pension Protection Fund (Pension Compensation Cap) Order 2006 No. 347
Draft Order laid before Parliament under section 316(2)(s) of the Pensions Act 2004, for approval by resolution of each House of Parliament
Draft Statutory Instruments
Coming into force
1st April 2006
This Order is made in exercise of the powers conferred by paragraphs 26(7) and 27(2) and (3) of Schedule 7 to the Pensions Act 2004(1).
On a review under section 148(2) of the Social Security Administration Act 1992(2) the Secretary of State concluded that the general level of earnings obtaining in Great Britain exceeds the general level by 4.2% at the end of the period taken into account for the last review under that section.
A draft of this instrument has been laid before Parliament in accordance with section 316(2)(s) of the Pensions Act 2004 and approved by a resolution of each House of Parliament.
Accordingly the Secretary of State for Work and Pensions makes the following Order: