Citation and commencement
1. This Order may be cited as the Guaranteed Minimum Pensions Increase Order 2018 and comes into force on 6th April 2018.
Increase of guaranteed minimum pensions
2. For the purposes of section 109(2) and (3) of the Pension Schemes Act 1993, the percentage by which there is to be an increase in the rate of that part of any guaranteed minimum pension which is attributable to earnings factors for the tax years in the relevant period(1) shall be 3.0 per cent.
Signed by authority of the Secretary of State for Work and Pensions
Kit Malthouse
Parliamentary Under Secretary of State
Department for Work and Pensions
5th March 2018