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The Occupational Pensions (Revaluation) Order (Northern Ireland) 2005

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Statutory Rules of Northern Ireland

2005 No. 509

PENSIONS

The Occupational Pensions (Revaluation) Order (Northern Ireland) 2005

Made

16th November 2005

Coming into operation

1st January 2006

Whereas the Secretary of State for Work and Pensions has made an Order(1) under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993(2):

Now, therefore, the Department for Social Development, in exercise of the powers conferred by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993(3), and now vested in it(4), and of all other powers enabling it in that behalf, hereby makes the following Order:

Citation, commencement and interpretation

1.—(1) This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2005 and shall come into operation on 1st January 2006.

(2) The Interpretation Act (Northern Ireland) 1954(5) 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 opposite thereto in column 2.

Sealed with the Official Seal of the Department for Social Development on 16th November 2005.

L.S.

John O'Neill

A senior officer of the

Department for Social Development

Article 2

SCHEDULE

Column 1Column 2
Revaluation periodRevaluation percentage
1st January 1986 – 31st December 2005102.7%
1st January 1987 – 31st December 200596.6%
1st January 1988 – 31st December 200588.7%
1st January 1989 – 31st December 200578.5%
1st January 1990 – 31st December 200565.9%
1st January 1991 – 31st December 200549.6%
1st January 1992 – 31st December 200543.7%
1st January 1993 – 31st December 200538.7%
1st January 1994 – 31st December 200536.3%
1st January 1995 – 31st December 200533.4%
1st January 1996 – 31st December 200528.3%
1st January 1997 – 31st December 200525.7%
1st January 1998 – 31st December 200521.3%
1st January 1999 – 31st December 200517.6%
1st January 2000 – 31st December 200516.3%
1st January 2001 – 31st December 200512.6%
1st January 2002 – 31st December 200510.7%
1st January 2003 – 31st December 20058.8%
1st January 2004 – 31st December 20055.9%
1st January 2005 – 31st December 20052.7%
(all dates inclusive)

Explanatory Note

(This note is not part of the Order)

This Order, which corresponds to an Order (S.I. 2005/3156) 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.

(1)

S.I. 2005/3156

(3)

1993 c. 49; Schedule 2 was amended by paragraph 20 of the Schedule to S.R. 2005 No. 434; see also section 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

(4)

See Article 8(b) of S.R. 1999 No. 481

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