Statutory Instruments
Social Security
Made
24th February 2016
Coming into force
6th April 2016
The Secretary of State for Work and Pensions makes the following Regulations in exercise of the power conferred by section 3(1) of the Pensions Act 2014(1).
These Regulations have not been referred to the Social Security Advisory Committee because they are made before the end of the period of six months beginning with the coming into force of the provision of the Pensions Act 2014 under which they are made(2).
A draft of these Regulations has been laid before Parliament in accordance with section 54(2)(a) of the Pensions Act 2014 and approved by a resolution of each House of Parliament.
1.—(1) These Regulations may be cited as the State Pension (Amendment) Regulations 2016.
(2) These Regulations come into force on 6th April 2016, immediately after the State Pension Regulations 2015 come into force(3).
2. After Part 1 of the State Pension Regulations 2015 (general), insert—
1A. The full rate of the state pension for the purposes of section 3(1) of the 2014 Act (full rate of state pension) is £155.65 per week.”.
Signed by authority of the Secretary of State for Work and Pensions.
Altmann
Minister of State,
Department for Work and Pensions
24th February 2016
(This note is not part of the Regulations)
These Regulations set the full rate of the new state pension by amending the State Pension Regulations 2015 (S.I. 2015/173). The Pensions Act 2014 (c.19) creates the new state pension for people reaching pensionable age on or after 6th April 2016 (see Part 1 of that Act). It replaces the existing state pension for those people. The full rate is set at £155.65 per week.
A full impact assessment has not been published for these Regulations as they have no impact on the private sector or civil society organisations. An assessment has been made of the impact of the introduction of the new state pension. Copies of that impact assessment may be obtained from the Better Regulation Unit of the Department for Work and Pensions, 2D Caxton House, Tothill Street, London SW1 9NA or from the DWP website: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/311316/pensions-act-ia-annex-a-single-tier-state-pension.pdf. (Annex A contains the assessment for new state pension.)
See section 173(5) of the Social Security Administration Act 1992 (c.5).
S.I. 2015/173. The State Pension Regulations 2015 were amended by S.I. 2016/XXX. Back [3]