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The Pensions (Northern Ireland) Order 1995

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Changes over time for: Section 54

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Point in time view as at 06/04/2016.

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The Pensions (Northern Ireland) Order 1995, Section 54 is up to date with all changes known to be in force on or before 27 April 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Articles 51 to 53: supplementaryN.I.

54.—(1) The first increase required by Article 51 in the rate of a pension must take effect not later than the first anniversary of the date on which the pension is first paid; and subsequent increases must take effect at intervals of not more than twelve months.

(2) Where the first such increase is to take effect on a date when the pension has been in payment for a period of less than twelve months, the increase must be of an amount at least equal to one twelfth of the amount of the increase so required (apart from this paragraph) for each complete month in that period.

(3) In Articles 51 to 53 and this Article—

  • “annual rate”, in relation to a pension, means the annual rate of the pension, as previously increased under the rules of the scheme or under Article 51,

  • F1...

  • Definition rep. by 2005 NI 1

  • [F2“the commencement day” means the day appointed for the coming into operation of Article 255 of the Pensions (Northern Ireland) Order 2005 (amendments to Article 51);]

  • [F3“higher revaluation percentage” and “lower revaluation percentage” mean the higher revaluation percentage and the lower revaluation percentage specified for a revaluation period by a revaluation order;]

  • “pension”, in relation to a scheme, means any pension in payment under the scheme and includes an annuity,

  • “reference period” has the meaning given by paragraph 2 of Schedule 3 to the Pension Schemes Act 1993F4,

  • “revaluation order” means an order under paragraph 2(1) of Schedule 2 to the Pension Schemes Act,

  • F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

  • “revaluation period” has the meaning given by paragraph 2(2) of Schedule 2 to the Pension Schemes Act.

F3Art. 54(3): definitions of "higher revaluation percentage" and "lower revaluation percentage" inserted (6.4.2009) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 80(1)(c), 118(1), Sch. 1 para. 9(a) (with s. 80(2)); S.R. 2009/22, art. 2(2)(c)

F5Art. 54(3): definition of "revaluation percentage" repealed (6.4.2009) by Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13), ss. 80(1)(c), 116, 118(1), Sch. 1 para. 9(b), Sch. 10 Pt. 5 (with s. 80(2)); S.R. 2009/22, art. 2(2)(c)(d)

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