1982 No. 607
The Social Security Revaluation of Earnings Factors Order 1982
Made
Laid before Parliament
Coming into Operation
The Secretary of State for Social Services, in exercise of the powers conferred upon him by section 21 of the Social Security Pensions Act 19751 and of all other powers enabling him in that behalf, having on a review under the said section 21 concluded, having had regard to earlier Orders under that section2, that earnings factors for the relevant previous tax years have not, during the period taken into account for that review, maintained their value in relation to the general level of earnings obtaining in Great Britain, hereby makes the following Order:—
Citation and commencement1
This Order may be cited as the Social Security Revaluation of Earnings Factors Order 1982 and shall come into operation on 28th May 1982.
Revaluation of earnings factors2
The earnings factors relevant to the calculation of the additional component in the rate of any long-term benefit are directed to be increased for the tax years specified in the Schedule hereto by the percentage of their amount shown opposite the said tax years in the said Schedule.
Rounding of fractional amounts3
Where any earnings factor as increased in accordance with this Order would not but for this Article be expressed as a whole number of pounds, it shall be so expressed by the rounding down of any fraction of a pound less than one half and the rounding up of any other fraction of a pound.
SCHEDULE
Tax Year | Increase |
---|---|
1978-79 | 78.3 per cent. |
1979-80 | 57.3 per cent. |
1980-81 | 31.5 per cent. |
1981-82 | 10.1 per cent. |