LegalizeThe Social Security Revaluation of Earnings Factors Order 1979
Made: 16th July 1979
Coming into Operation: 16th July 1979
Whereas, consequent upon a review under section 21 of the Social Security Pensions Act 1975[^f00001], a draft of the following Order was laid before Parliament and approved by resolution of each House of Parliament:
Now, therefore, the Secretary of State for Social Services, in exercise of the powers conferred upon him by the said section 21, and of all other powers enabling him in that behalf, hereby makes the following Order:—
Citation and commencement
1
This Order may be cited as the Social Security Revaluation of Earnings Factors Order 1979 and shall come into operation on the day upon which it is made.
Revaluation of earnings factors
2
The earnings factors relevant to the calculation of the additional component in the rate of any long-term benefit are directed to be increased for the tax year specified in the Schedule hereto by the percentage of their amount shown opposite the said tax year in the said Schedule.
Rounding of fractional amounts
3
Where any earnings factor as increased in accordance with this Order would not but for this Article be expressed as a whole number of pounds, it shall be so expressed by the rounding down of any fraction of a pound less than one half and the rounding up of any other fraction of a pound.
SCHEDULE
| Tax Year | Increase |
|---|---|
| 1978–79 | 13·3 per cent. |
Signed
Patrick Jenkin — Secretary of State for Social Services — 16th July 1979
Explanatory note
EXPLANATORY NOTE
This Order, a draft of which has been laid before and approved by a resolution of each House of Parliament, is made consequent upon a review under section 21 of the Social Security Pensions Act 1975 as amended by section 10 of the Social Security Act 1979, and it directs that the earnings factors relevant to calculating the additional component in the rate of any long-term benefit for the tax year specified in the Schedule to the Order are to be increased by the percentage of their amount specified in the Schedule. The Order also provides for the rounding of fractional amounts.
Footnotes
[^f00001]: section 21 was amended by the Social Security Act 1979 (c. 18), s. 10.
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