Search Legislation

The Social Security Pensions (Flat Rate Accrual Amount) Order 2013

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
 Help about opening options

Opening Options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Statutory Instruments

2013 No. 529

Social Security

The Social Security Pensions (Flat Rate Accrual Amount) Order 2013

Made

6th March 2013

Laid before Parliament

11th March 2013

Coming into force

6th April 2013

In accordance with section 148AA(1) (revaluation of flat rate accrual amount) of the Social Security Administration Act 1992(1), the Secretary of State has reviewed the general level of earnings obtaining in Great Britain.

It appears to the Secretary of State that the general level of earnings has increased during the review period.

The Secretary of State makes the following Order in exercise of the powers conferred by section 148AA(3) to (6) of the Social Security Administration Act 1992.

Citation and commencement

1.  This Order may be cited as the Social Security Pensions (Flat Rate Accrual Amount) Order 2013 and shall come into force on 6th April 2013.

Flat Rate Accrual Amount

2.  For the purpose of paragraph 13(2) of Schedule 4B to the Social Security Contributions and Benefits Act 1992(2), the flat rate accrual amount for the tax year beginning 6th April 2013 and subsequent tax years shall be £91.00.

Signed by authority of the Secretary of State for Work and Pensions

Steve Webb

Minister of State

Department for Work and Pensions

6th March 2013

EXPLANATORY NOTE

(This note is not part of the Order)

This Order is made following a review by the Secretary of State under section 148AA(1) of the Social Security Administration Act 1992 (c. 5) of the general level of earnings in Great Britain with a view to determining whether, and if so by how much, the general level of earnings has increased during the period from 1st October 2011 to 30th September 2012. As a result of that review, it appears to the Secretary of State that the general level of earnings during that period has increased by 1.8%. This Order therefore directs, in accordance with section 148AA(4) of that Act, that the flat rate accrual amount for the tax year beginning 6th April 2013, and subsequent tax years, shall be £91.00.

The flat rate accrual amount is a flat rate cash amount of additional pension which applies to accruals in the first earnings band under Schedule 4B to the Social Security Contributions and Benefits Act 1992 (c. 4). This method of calculation of additional pension applies from the flat rate introduction year, which by virtue of the Social Security Pensions (Flat Rate Introduction Year) Order 2011 (S.I. 2011/2953) is the tax year beginning 6th April 2012.

A full impact assessment has not been produced for this instrument as it has no impact on the private sector or civil society organisations.

(1)

1992 c. 5. Section 148AA was inserted by paragraph 2 of Schedule 2 to the Pensions Act 2007 (c. 22).

(2)

1992 c. 4. Schedule 4B was inserted by paragraph 1 of Schedule 2 to the Pensions Act 2007 (c. 22).

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Memorandum

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as made version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources