The State Pension Debits and Credits (Revaluation) Order 2024

• Citation: S.I. 2024/1208
• Sections: 2

Section 1 Citation, commencement and extent

(1) This Order may be cited as the State Pension Debits and Credits (Revaluation) Order 2024.

(2) This Order comes into force on—

(a) 17th December 2024 for the purpose of making an award on a claim for a state pension under regulation 15(1) of the Social Security (Claims and Payments) Regulations 1987 (advance notice of retirement and claim for and award of pension) to a person who reaches pensionable age on or after 8th April 2025, and

(b) 7th April 2025 for all other purposes.

(3) This Order extends to England and Wales and Scotland.

(4) In this article “ a state pension ” means a state pension under Part 1 of the Pensions Act 2014.

Section 2 Increase in the amount of relevant debits or credits

For the purposes of paragraph 3 of each of Schedules 8 and 10 to the Pensions Act 2014 (pension sharing: appropriate weekly rate and reduction), the amount of relevant debits or credits for the tax year specified in the first column of the table set out in the Schedule to this Order are to be increased by the percentage of their amount specified in the corresponding entry in the second column.