17.—(1) This paragraph applies for the purposes of paragraph 15(4)(c).
(2) The second revaluation period is the period which—
(a)begins with the assessment date, and
(b)ends with the day before the day on which the deferred member attains normal pension age in respect of the pension.
(3) The revaluation amount for the second revaluation period is—
(a)where that period is less than one month, nil, and
(b)in any other case the revaluation percentage of the aggregate of—
(i)the accrued amount, and
(ii)the revaluation amount for the first revaluation period (see paragraph 16).
(4) In sub-paragraph (3) “the revaluation percentage” means the lesser of—
(a)the percentage increase referred to in paragraph 17(4)(a) of Schedule 7 to the Pensions Act 2004 (c. 35), and
(b)the maximum revaluation rate.
(5) For the purposes of sub-paragraph (4)(b) “the maximum revaluation rate”, in relation to the second revaluation period, is—
(a)if that period is a period of 12 months, 5%, and
(b)in any other case, the percentage referred to in paragraph 17(5)(b) of Schedule 7 to the Pensions Act 2004.
This is subject to paragraph 29 (power of Board to determine maximum revaluation rate).
(6) In this paragraph “the deferred member”, “the accrued amount” and “the pension” are to be construed in accordance with paragraph 15.