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PART 2SIMPLIFICATION ETC.

Private pensions

Revaluation of accrued benefits etc.

80.—(1) Schedule 1, which—

(a)amends Schedule 2 to the Pension Schemes Act (methods of revaluing accrued pension benefits),

(b)amends Schedule 6 to the 2005 Order (pension compensation provisions), and

(c)makes consequential amendments,

has effect.

(2) The amendments made by Parts 1 and 3 of Schedule 1 do not apply in relation to a revaluation period ending before this section comes into operation.

(3) In subsection (2) “revaluation period” has the same meaning as in paragraph 2(2) of Schedule 2 to the Pension Schemes Act.