This Order corresponds to an Order (S.I. 2023/266) made by the Secretary of State for Work and Pensions under section 148 of the Social Security Administration Act 1992. It directs that the earnings factors relevant to the calculation of additional pension in any long-term benefit (in practice, now relevant only to the calculation of inherited additional pension), or of any guaranteed minimum pension, or to any other calculation required under Part III of the Pension Schemes (Northern Ireland) Act 1993 are to be increased for the tax years specified in the Schedule to this Order by the percentage of their amount specified in that Schedule. This is to ensure that earnings factors for those years are revalued at 2022-2023 earnings levels.
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