The Occupational Pensions (Revaluation) Order (Northern Ireland) 2007

Made29th November 2007

Coming into operation1st January 2008

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 Social Development2.

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 Social Development makes the following Order:

Citation, commencement and interpretation1.

(1)

This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2007 and shall come into operation on 1st January 2008.

(2)

The Interpretation Act (Northern Ireland) 19545 shall apply to this Order as it applies to an Act of the Assembly.

Revaluation percentage for each revaluation period2.

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 in column 2 in relation to that period.

Sealed with the Official Seal of the Department for Social Development on 29th November 2007

(L.S.)

John O’Neill

A senior officer of the Department for Social Development

SCHEDULE

Article 2

Column 1	Column 2
Revaluation period	Revaluation percentage
1st January 1986 – 31st December 2007	118.2%
1st January 1987 – 31st December 2007	111.7%
1st January 1988 – 31st December 2007	103.1%
1st January 1989 – 31st December 2007		92.2%
1st January 1990 – 31st December 2007		78.6%
1st January 1991 – 31st December 2007		61.1%
1st January 1992 – 31st December 2007		54.7%
1st January 1993 – 31st December 2007		49.3%
1st January 1994 – 31st December 2007		46.7%
1st January 1995 – 31st December 2007		43.5%
1st January 1996 – 31st December 2007		38.2%
1st January 1997 – 31st December 2007		35.3%
1st January 1998 – 31st December 2007		30.6%
1st January 1999 – 31st December 2007		26.6%
1st January 2000 – 31st December 2007		25.2%
1st January 2001 – 31st December 2007		21.2%
1st January 2002 – 31st December 2007		19.2%
1st January 2003 – 31st December 2007		17.2%
1st January 2004 – 31st December 2007		14.0%
1st January 2005 – 31st December 2007		10.5%
1st January 2006 – 31st December 2007			7.6%
1st January 2007 – 31st December 2007			3.9%
(all dates inclusive)

EXPLANATORY NOTE

(This note is not part of the Order)

This Order, which corresponds to an Order (S.I. 2007/3369) 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.