[150A Annual up-rating of basic pension etc and standard minimum guarantee]
Social Security Administration Act 1992 (1992 c 5) | Legislation

[150A  Annual up-rating of basic pension etc and standard minimum guarantee]

[(1)     The Secretary of State shall in each tax year review the following amounts in order to determine whether they have retained their value in relation to the general level of earnings obtaining in Great Britain–

[(za)     the amount specified in regulations under section 3(1) of the Pensions Act 2014 (full rate of state pension);]

(a)     the amount of the basic pension;

(b)     the specified amounts in the case of Category B, C or D retirement pensions;

(c)     the specified amounts in the case of industrial death benefit; and

(d)     the amounts of the standard minimum guarantee for the time being prescribed under section 2(4) and (5)(a) and (b) of the State Pension Credit Act 2002.

(2)     Where it appears to the Secretary of State that the general level of earnings is greater at the end of the period under review than it was at the beginning of that period, he shall lay before Parliament the draft of an order which increases each of the amounts referred to in subsection (1) above by a percentage not less than the percentage by which the general level of earnings

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