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The State Pension Debits and Credits (Revaluation) Order 2020

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1.—(1) This Order may be cited as the State Pension Debits and Credits (Revaluation) Order 2020.

(2) This Order comes into force on—

(a)29th January 2020 for the purpose of making an award on a claim for a state pension under regulation 15(1) of the Social Security (Claims and Payments) Regulations 1987 (advance notice of retirement and claim for and award of pension)(1) to a person who reaches pensionable age(2) on or after 7th April 2020; and

(b)6th April 2020 for all other purposes.

(3) In this article “a state pension” means a state pension under Part 1 of the Pensions Act 2014(3).

Increase in the amount of relevant debits or credits

2.  For the purposes of paragraph 3 of each of Schedules 8 and 10 to the Pensions Act 2014 (pension sharing: appropriate weekly rate and reduction), the amount of relevant debits or credits for the tax year specified in the first column of the table set out in the Schedule to this Order is to be increased by the percentage of their amount specified in the corresponding entry in the second column.

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

Guy Opperman

Parliamentary Under Secretary of State

Department for Work and Pensions

6th January 2020

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