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The Guaranteed Minimum Pensions Increase Order 2003
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Increase of guaranteed minimum pensions
2. For the purposes of section 109(2) and (3) of the Pension Schemes Act 1993(1) 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(2) shall be 1.7 per cent.
(1)
Section 109(2) was amended by section 55(a) of the Pensions Act 1995 (c. 26).
(2)
See section 109(3A) of the Pension Schemes Act 1993, which was inserted by section 55(b) of the Pensions Act 1995.
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