LegalizeThe Occupational Pensions (Revaluation) Order (Northern Ireland) 2008
Made: 3rd December 2008
Coming into operation: 1st January 2009
Accordingly the Department for Social Development makes the following Order:
Citation, commencement and interpretation
1
- (1) This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2008 and shall come into operation on 1st January 2009.
- (2) The Interpretation Act (Northern Ireland) 1954[^f00005] shall apply to this Order as it applies to an Act of the Assembly.
Revaluation percentage for each revaluation period
2
For the purposes of paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993, the revaluation percentage for each revaluation period specified in column 1 of the Schedule is the percentage specified in column 2 in relation to that period.
SCHEDULE
| Column 1 | Column 2 | Column 2 | Column 2 | ||
|---|---|---|---|---|---|
| Revaluation period | Revaluation percentage | Revaluation percentage | Revaluation percentage | ||
| 1st January 1986 – 31st December 2008 | 129∙1% | 129∙1% | 129∙1% | ||
| 1st January 1987 – 31st December 2008 | 122∙3% | 122∙3% | 122∙3% | ||
| 1st January 1988 – 31st December 2008 | 113∙3% | 113∙3% | 113∙3% | ||
| 1st January 1989 – 31st December 2008 | 101∙8% | 101∙8% | 101∙8% | ||
| 1st January 1990 – 31st December 2008 | 87∙5% | 87∙5% | |||
| 1st January 1991 – 31st December 2008 | 69∙1% | 69∙1% | |||
| 1st January 1992 – 31st December 2008 | 62∙4% | 62∙4% | |||
| 1st January 1993 – 31st December 2008 | 56∙8% | 56∙8% | |||
| 1st January 1994 – 31st December 2008 | 54∙0% | 54∙0% | |||
| 1st January 1995 – 31st December 2008 | 50∙7% | 50∙7% | |||
| 1st January 1996 – 31st December 2008 | 45∙1% | 45∙1% | |||
| 1st January 1997 – 31st December 2008 | 42∙1% | 42∙1% | |||
| 1st January 1998 – 31st December 2008 | 37∙1% | 37∙1% | |||
| 1st January 1999 – 31st December 2008 | 32∙9% | 32∙9% | |||
| 1st January 2000 – 31st December 2008 | 31∙4% | 31∙4% | |||
| 1st January 2001 – 31st December 2008 | 27∙2% | 27∙2% | |||
| 1st January 2002 – 31st December 2008 | 25∙1% | 25∙1% | |||
| 1st January 2003 – 31st December 2008 | 23∙0% | 23∙0% | |||
| 1st January 2004 – 31st December 2008 | 19∙7% | 19∙7% | |||
| 1st January 2005 – 31st December 2008 | 16∙1% | 16∙1% | |||
| 1st January 2006 – 31st December 2008 | 13∙0% | 13∙0% | |||
| 1st January 2007 – 31st December 2008 | 9∙1% | ||||
| 1st January 2008 – 31st December 2008 | 5∙0% | ||||
| (all dates inclusive) |
Signed
Sealed with the Official Seal of the Department for Social Development on 3rd December 2008
B McGahan — A senior officer of the Department for Social Development
Explanatory note
(This note is not part of the Order)
EXPLANATORY NOTE
This Order, which corresponds to an Order (S.I. 2008/3070) made by the Secretary of State for Work and Pensions under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, specifies appropriate revaluation percentages. The percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 80 of, and Schedule 2 to, the Pension Schemes (Northern Ireland) Act 1993.
Footnotes
[^f00001]: 1993 c. 49; Schedule 2 was amended by paragraph 20 of the Schedule to S.R. 2005 No. 434; see alsosection 80 as amended by Part III of Schedule 5 to the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22)), Article 258 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255(N.I. 1)) and paragraph 13 of the Schedule to S.R. 2005 No. 434
[^f00002]: See Article 8(b) of S.R. 1999 No. 481
[^f00003]: S.I. 2008/3070
[^f00004]: 1993 c. 48
[^f00005]: 1954 c. 33 (N.I.)
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