PART 11Test Scheme

Test scheme: requirements to revalue accrued benefits and increase pensions in paymentI137

1

Paragraph (2) applies for the purposes of section 23(1)(b) (test scheme).

2

The following must be satisfied in relation to a test scheme—

a

the requirements of section 80(1) of the 1993 Act (basis of revaluation), and

b

the requirements of Article 51 of the 1995 Order13 (annual increase in rate of pension).

3

For the purposes of paragraph (2)(a), section 80(1) of the 1993 Act shall have effect as if “Subject to subsections (2) and (3),” were omitted.