- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Public Service Pensions Revaluation (Prices) Order 2016 No. 438
Draft Order laid before the House of Commons under section 9(5)(a) of the Public Service Pensions Act 2013, for approval by resolution of the House of Commons.
Draft Statutory Instruments
Public Service Pensions
Made
***
Coming into force
1st April 2016
Pursuant to section 9(5)(a) of the Public Service Pensions Act 2013(1), a draft of this Order has been laid before, and approved by resolution of, the House of Commons.
The Treasury make the following Order in exercise of the powers conferred on them by section 9(2) and (3) of that Act:
1. This Order may be cited as the Public Service Pensions Revaluation (Prices) Order 2016 and comes into force on 1st April 2016.
2. For the purposes of section 9(2) of the Public Service Pensions Act 2013 (revaluation), the change in prices specified in relation to the period beginning on 1st April 2015 and ending on 31st March 2016 is a decrease of 0.1 per cent.
X
X
Two of the Lords Commissioners of Her Majesty’s Treasury
Date
(This note is not part of the Order)
Section 9 of the Public Service Pensions Act 2013 (c.25) applies to public service pension schemes established under that Act which require a revaluation of pensionable earnings, or a portion of such earnings accrued as a pension, by reference to a change in prices, earnings or both.
Article 2 of this Order specifies a decrease in prices of 0.1 per cent in relation to the period of 1st April 2015 to 31st March 2016 inclusive. This figure is based on the year on year change in the Consumer Prices Index to September 2015.
An impact assessment has not been produced for this instrument as no significant impact on the cost of business or the voluntary sector is foreseen.
2013 c.25. See section 38(4) for the definition of “affirmative Commons procedure”.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Draft Explanatory Memorandum sets out a brief statement of the purpose of a Draft Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Draft Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: