Citation, commencement and interpretation
1.—(1) This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2016 and shall come into operation on 1st January 2017.
(2) The Interpretation Act (Northern Ireland) 1954(1) shall apply to this Order as it applies to an Act of the Assembly.
The higher and lower revaluation percentages for each revaluation period
2. For the purposes of paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993 (methods of revaluing accrued pension benefits), for each revaluation period specified in column 1 of the Schedule, the higher revaluation percentage is the percentage specified in column 2, and the lower revaluation percentage, where applicable, is the percentage specified in column 3, in relation to that period.
Sealed with the Official Seal of the Department for Communities on 7th December 2016
(L.S.)
Anne McCleary
A senior officer of the Department for Communities