Occupational Pensions (Revaluation) Order 1995

JurisdictionUK Non-devolved
CitationSI 1995/3021

1995 No. 3021

PENSIONS

The Occupational Pensions (Revaluation) Order 1995

Made 22th November 1995

Laid before Parliament 29th November 1995

Coming into force 1st January 1996

The Secretary of State for Social Security, in exercise of the powers conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 19931, hereby makes the following Order:

S-1 Citation and commencement

Citation and commencement

1.—(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 1995.

(2) This Order shall come into force on 1st January 1996.

S-2 The revaluation percentage for each revaluation period

The revaluation percentage for each revaluation period

2. For the purposes of paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, the revaluation percentage for each revaluation period specified in column 1 below is the appropriate percentage specified in column 2.

Column 1

Column 2

Revaluation Period

Revaluation Percentage

1st January 1986 – 31st December 1995

58.0%

1st January 1987 – 31st December 1995

53.2%

1st January 1988 – 31st December 1995

47.0%

1st January 1989 – 31st December 1995

39.1%

1st January 1990 – 31st December 1995

29.3%

1st January 1991 – 31st December 1995

16.6%

1st January 1992 – 31st December 1995

12.0%

1st January 1993 – 31st December 1995

08.1%

1st January 1994 – 31st December 1995

06.2%

1st January 1995 – 31st December 1995

03.9%

Oliver Heald

Parliamentary Under-Secretary of State,

Department of Social Security

22nd November 1995

(This note in not part of the Order)

This Order is made, as required by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, in the revaluation year beginning on 1st Janaury 1995. The revaluation percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.

This Order does not impose any costs on business.


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