2021 No. 314
The Occupational Pensions (Revaluation) Order (Northern Ireland) 2021
Made
Coming into operation
This Order is made in exercise of the powers conferred by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 19931 and now vested in the Department for Communities2.
The Secretary of State for Work and Pensions has made an Order3 under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 19934.
Accordingly the Department for Communities makes the following Order:
Citation, commencement and interpretation1
1
This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2021 and shall come into operation on 1st January 2022.
2
The Interpretation Act (Northern Ireland) 19545 shall apply to this Order as it applies to an Act of the Assembly.
The higher and lower revaluation percentages for each revaluation period2
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—
a
the higher revaluation percentage is the percentage specified in column 2, and
b
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 29th November 2021
SCHEDULE
Column 1 Revaluation period | Column 2 Higher revaluation percentage | Column 3 Lower revaluation percentage |
|---|---|---|
1st January 1986 – 31st December 2021 | 191∙9% | - |
1st January 1987 – 31st December 2021 | 183∙1% | - |
1st January 1988 – 31st December 2021 | 171∙7% | - |
1st January 1989 – 31st December 2021 | 157∙1% | - |
1st January 1990 – 31st December 2021 | 138∙9% | - |
1st January 1991 – 31st December 2021 | 115∙4% | - |
1st January 1992 – 31st December 2021 | 106∙9% | - |
1st January 1993 – 31st December 2021 | 99∙7% | - |
1st January 1994 – 31st December 2021 | 96∙2% | - |
1st January 1995 – 31st December 2021 | 92∙0% | - |
1st January 1996 – 31st December 2021 | 84∙8% | - |
1st January 1997 – 31st December 2021 | 81∙0% | - |
1st January 1998 – 31st December 2021 | 74∙7% | - |
1st January 1999 – 31st December 2021 | 69∙3% | - |
1st January 2000 – 31st December 2021 | 67∙4% | - |
1st January 2001 – 31st December 2021 | 62∙1% | - |
1st January 2002 – 31st December 2021 | 59∙4% | - |
1st January 2003 – 31st December 2021 | 56∙7% | - |
1st January 2004 – 31st December 2021 | 52∙4% | - |
1st January 2005 – 31st December 2021 | 47∙9% | - |
1st January 2006 – 31st December 2021 | 44∙0% | - |
1st January 2007 – 31st December 2021 | 39∙0% | - |
1st January 2008 – 31st December 2021 | 33∙8% | - |
1st January 2009 – 31st December 2021 | 27∙4% | 27∙4% |
1st January 2010 – 31st December 2021 | 29∙2% | 29∙2% |
1st January 2011 – 31st December 2021 | 25∙3% | 25∙3% |
1st January 2012 – 31st December 2021 | 19∙1% | 19∙1% |
1st January 2013 – 31st December 2021 | 16∙6% | 16∙6% |
1st January 2014 – 31st December 2021 | 13∙5% | 13∙5% |
1st January 2015 – 31st December 2021 | 12∙1% | 12∙1% |
1st January 2016 – 31st December 2021 | 12∙3% | 12∙3% |
1st January 2017 – 31st December 2021 | 11∙1% | 11∙1% |
1st January 2018 – 31st December 2021 | 7∙9% | 7∙9% |
1st January 2019 – 31st December 2021 | 5∙4% | 5∙4% |
1st January 2020 – 31st December 2021 | 3∙6% | 3∙6% |
1st January 2021 – 31st December 2021 | 3∙1% | 2∙5% |
(all dates inclusive) |
(This note is not part of the Order)