SI 2020/6 - The State Pension Revaluation for Transitional Pensions Order 2020

Released 07 January 2020
SI 2020/6 sets the revaluing percentage for state pension protected payments at 8.2% for persons reaching state pension age on or after 7 April 2020.
The State Pension Revaluation for Transitional Pensions Order 2020 is made following a review under the Social Security Administration Act 1992, s. 148AC(1) (revaluation for transitional pensions under Pensions Act 2014). PA 2014 created a new state pension for persons reaching pensionable age on or after 6 April 2016. The part of a person’s new state pension based on their pre-April 2016 contribution record that exceeds the full rate of the new state pension as at 6 April 2016 is commonly referred to as a “protected payment”. PA 2014, Sch. 1, para. 6(5) provides for the revaluing of protected payments by increasing these payments by the “revaluing percentage” specified in the last order under SSAA 1992, s. 148AC(3) to come into force before the person reached pensionable age. This order specifies the revaluing percentage as 8.2 per cent. The order comes into force on 29 January 2020 for the purposes of advance notice state pension claims for persons reaching pensionable age on or after 7 April 2020 and on 6 April 2020 for all other purposes.
https://www.accountancydaily.co/cch_uk/tat/news_010322_si_2020_6

http://www.legislation.gov.uk/uksi/2020/6/made