The Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling) Order 2015

Made: 26th January 2015

Laid before Parliament: 2nd February 2015

Coming into force in accordance with article 1(2)

The Secretary of State for Work and Pensions makes the following Order in exercise of the powers conferred by sections 178(1) and (6) and 315(2) and (5) of the Pensions Act 2004 .

In accordance with section 178(5) of that Act, the Secretary of State has reviewed the general level of earnings obtaining in Great Britain during the period of 12 months ending with 31st July 2014. It appears to the Secretary of State that the general level of earnings has increased by 0.6% during that period.

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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Revocation of articles 2 and 3 of the Pension Protection Fund and Occupational Pension Schemes (Levy Ceiling and Compensation Cap) Order 2014

4

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Signed

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

Steve Webb — Minister of State, — 2015-01-26

Explanatory note

(This note is not part of the Order)

Footnotes

[^f00001]: 2004 c. 35. See alsoS.I. 2014/10 which sets the levy ceiling for the financial year beginning on 1st April 2014.

[^f00002]: 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 2014.

[^f00003]: S.I. 2014/10.

Editorial notes

[^c2233648]: 2004 c. 35. See alsoS.I. 2014/10 which sets the levy ceiling for the financial year beginning on 1st April 2014.