
  2023 No. 1270
SOCIAL SECURITY
 The State Pension Debits and Credits (Revaluation) Order 2023  
Made 27th November 2023
Laid before Parliament 28th November 2023
Coming into force in accordance with article 1(2)

The Secretary of State has reviewed the general level of prices in Great Britain in accordance with section 148AD(1) of the Social Security Administration Act 1992.
The Secretary of State has had regard to the earlier orders under that section, and it appears to the Secretary of State that relevant debits or credits have not, during the review period, maintained their value in relation to the general level of prices.

Accordingly the Secretary of State makes the following Order in exercise of the powers conferred by sections 148AD(2) and (3) and 189(1) and (4) of the Social Security Administration Act 1992.
Citation, commencement and extent
1 

(1) This Order may be cited as the State Pension Debits and Credits (Revaluation) Order 2023.
(2) This Order comes into force on—
(a) 20th December 2023 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 9th April 2024; and
(b) 8th April 2024 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.
Increase in the amount of relevant debits or credits
2 
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 is to be increased by the percentage of their amount specified in the corresponding entry in the second column.
Signed by authority of the Secretary of State for Work and Pensions
Paul Maynard
Parliamentary Under Secretary of State
Department for Work and Pensions
27th November 2023
Schedule
Percentage increase of the amounts of relevant debits or credits for the specified tax years
Article 2


Tax year Percentage increase
2016-2017 31.9
2017-2018 30.6
2018-2019 26.8
2019-2020 23.8
2020-2021 21.7
2021-2022 21.1
2022-2023 17.5
2023-2024 6.7