The Social Security Revaluation of Earnings Factors Order 1981

Made: 10th April 1981

Laid before Parliament: 23rd April 1981

Coming into Operation: 14th May 1981

The Secretary of State for Social Services, in exercise of the powers conferred upon him by section 21 of the Social Security Pensions Act 1975[^f00001] and of all other powers enabling him in that behalf, having on a review under the said section 21 concluded, having had regard to earlier Orders under that section[^f00002], that earnings factors for the relevant previous tax years have not, during the period taken into account for that review, maintained their value in relation to the general level of earnings obtaining in Great Britain, hereby makes the following Order:—

Citation and commencement

1

This Order may be cited as the Social Security Revaluation of Earnings Factors Order 1981 and shall come into operation on 14th May 1981.

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 years specified in the Schedule hereto by the percentage of their amount shown opposite the said tax years 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

Signed

Patrick Jenkin — Secretary of State for Social Services — 10th April 1981

Explanatory note

EXPLANATORY NOTE

This Order 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 section 3(3) of the Social Security Act 1980. It directs that the earnings factors relevant to calculating the additional component in the rate of any long-term benefit for the tax years specified in the Schedule to the Order are to be increased by the percentage of their amount specified in the Schedule (so that their value is maintained in relation to the general level of earnings obtaining in Great Britain). The Order also provides for the rounding of fractional amounts.

Footnotes

[^f00001]: section 21 was amended by the Social Security Act 1979 (c. 18), section 10 and the Social Security Act 1980 (c. 30), section 3(3).

[^f00002]: S.I. 1979/832, 1980/728.