The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling and Compensation Cap) Order 2019

Made: 31st January 2019

Laid before Parliament: 4th February 2019

Coming into force in accordance with article 1(2)

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Citation, commencement and interpretation

1

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The earnings percentage

2

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The levy ceiling

3

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The compensation cap

4

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Revocation

5

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Signed

Signed by authority of the Secretary of State for Work and Pensions

Guy Opperman — Parliamentary Under Secretary of State — 2019-01-31

Explanatory note

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Footnotes

[^f00001]: 2004 c. 35. Paragraph 26A of Schedule 7 was inserted by paragraphs 1 and 3 of Schedule 20 to the Pensions Act 2014 (c. 19). Paragraph 27(2) of Schedule 7 was amended by paragraphs 4 and 6 of Schedule 20 to that Act. See also S.I. 2018/39 which set the levy ceiling for the financial year beginning on 1st April 2018.

[^f00002]: 1992 c. 5. Section 148(2) was amended by section 37 of the Child Support, Pensions and Social Security Act 2000 (c. 19). Paragraph 27(2) of Schedule 7 to the Pensions Act 2004 requires the Secretary of State to make an order increasing the standard amount specified for the purposes of paragraph 26A(7) of that Schedule, where on a review under section 148(2) of the Social Security Administration Act 1992 in a tax year, the Secretary of State concludes that the general level of earnings in Great Britain has increased over the relevant period.

[^f00003]: See section 178(4) of the Pensions Act 2004 and regulation 3 of S.I. 2006/2692, which provide that the review period is the period of 12 months ending with 31st July 2018.

[^f00004]: S.I. 2018/39.

Editorial notes

[^key-63c7b0c252fb81108ead78a8bd66f0f8]: Order revoked (1.4.2020) by The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling and Compensation Cap) Order 2020 (S.I. 2020/101), arts. 1(4), 5