The Guaranteed Minimum Pensions Increase Order 2023

The Secretary of State has reviewed the general level of prices in Great Britain for the period of 12 months commencing on 1st October 2021 as required by section 109(1) of the Pension Schemes Act 19931, and it appears to the Secretary of State that the general level of prices was greater by 10.1 per cent. at the end of that period than it was at the beginning of that period.

A draft of this Order was laid before Parliament in accordance with section 109(2) of that Act2 and approved by a resolution of each House of Parliament.