Pensions Act 2004 (c. 35)

Part 5 U.K. Occupational and personal pension schemes: miscellaneous provisions

Revaluation E+W+S

281 Exemption from statutory revaluation requirement E+W+S

(1) Section 84 of the Pension Schemes Act 1993 (c. 48) (basis of revaluation) is amended as follows.

(2) In subsection (5), after paragraph (a) insert “or

(b) under any arrangement which maintains the value of the pension or other benefit by reference to the rise in the retail prices index during that period,”.

(3) After that subsection add—

“(6) In subsection (5)(b), “retail prices index” means—

(a) the general index of retail prices (for all items) published by the Office for National Statistics, or

(b) where that index is not published for a month, any substituted index or figures published by that Office.”