Section 1Citation, commencement and extent
(1) This Order may be cited as the Guaranteed Minimum Pensions Increase Order 2024 and comes into force on 6th April 2024.
(2) This Order extends to England and Wales and Scotland.
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Statutory Instrument
The Guaranteed Minimum Pensions Increase Order 2024
Section 2Increase of guaranteed minimum pensions
For the purposes of section 109(2) and (3) of the Pension Schemes Act 1993, the percentage by which there is to be an increase of the rate of that part of guaranteed minimum pensions which is attributable to earnings factors for the tax years in the relevant period is 3 per cent.
2 sections
Cite this legislation
The Guaranteed Minimum Pensions Increase Order 2024 (legislation.gov.uk, OGL v3.0). Retrieved via LawPlayer, https://lawplayer.com/uk/act/uksi-2024-243 (accessed 2026-07-07)
Contains public sector information licensed under the Open Government Licence v3.0.
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