Other pension schemes
37.—(1) The Department may by regulations make provision for a pension to which paragraph (2) applies to be increased, as a minimum, by reference to increases in the retail prices index, so far as not exceeding 5 per cent. per annum.
(2) This paragraph applies to—
(a)a pension provided to give effect to eligible pension credit rights of a member under a qualifying occupational pension scheme, and
(b)a pension provided to give effect to safeguarded rights of a member under a personal pension scheme.
(3) In this Article—
“eligible”, in relation to pension credit rights, means of a description prescribed by regulations made by the Department;
“pension credit rights”, in relation to an occupational pension scheme, means rights to future benefits under the scheme which are attributable (directly or indirectly) to a credit under Article 26(1)(b) or under section 29(1)(b) of the Welfare Reform Act;
“qualifying occupational pension scheme” means an occupational pension scheme which is not a public service pension scheme;
“safeguarded rights” has the meaning given in section 64A of the Pension Schemes Act (which is inserted by Article 33).