(This note is not part of the Order)
This Order is made following a review under section 148AD(1) of the Social Security Administration Act 1992 (c. 5).
Article 2 of this Order revalues credits and debits under section 49A(2) of the Welfare Reform and Pensions Act 1999 (c. 30) by increasing them by the specified percentage increase that corresponds to the tax year in which the person became entitled to the credit or subject to the debit. The specified percentage increase is also used as the “appropriate revaluation percentage” to determine the appropriate weekly rate of a person’s state pension under section 13 of the Pensions Act 2014 (c. 19) in accordance with paragraph 3 of each of Schedules 8 and 10 to that Act.
An impact assessment has not been produced for this Order as it has no impact on business or civil society organisations.