Article 2 of this Order specifies that the increase in the general level of earnings for the period  from 1st August 2018 to 31st July 2019 is 3.9%. Accordingly, article 3 specifies that the levy  ceiling for the financial year beginning on 1st April 2020 is £1,099,445,505.  The compensation cap is used by the Board to determine the amount of compensation payable to a  person who is under normal pension age on the assessment date (as described in paragraphs 2 and  34 of Schedule 7 to the Act) and whose compensation is not derived from a survivor’s pension or  a pension payable on the grounds of ill health. The amount of compensation payable must be  restricted in accordance with paragraph 26 of Schedule 7 to the Act in cases referred to in that  paragraph. Where that paragraph applies, the Board uses the compensation cap to determine the  amount of compensation payable.  Article 4 provides that the standard amount of the compensation cap under paragraph 26A(7)(a) of  Schedule 7 to the Act is £41,461.07 from 1st April 2020. This is an increase on the previous  standard amount to reflect a higher general level of earnings.  Article 5 revokes the 2019 Order.  This Order amends an existing regulatory regime by a pre-determined formula and the associated  administrative costs or savings for the private sector and civil society organisations are negligible.  A full impact assessment is not necessary for such an Order.  3 © Crown copyright 2020  Printed and published in the UK by The Stationery Office Limited under the authority and superintendence of Jeff James,  Controller of Her Majesty’s Stationery Office and Queen’s Printer of Acts of Parliament. 