http://www.legislation.gov.uk/nisr/2021/314/madeThe Occupational Pensions (Revaluation) Order (Northern Ireland) 2021enGovernment Printer for Northern Ireland2021-12-01PENSIONSThis Order, which corresponds to an Order (S.I. 2021/1308) 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. The lower revaluation percentage introduced by the Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.)) does not apply to pensionable service before 6th April 2009.Statutory Rules of Northern Ireland2021 No. 314PensionsThe Occupational Pensions (Revaluation) Order (Northern Ireland) 2021Made29th November 2021Coming into operation1st January 2022

This Order is made in exercise of the powers conferred by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993

1993 c. 49; Schedule 2 was amended by paragraphs 1 to 3 of Schedule 1 to the Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.)), section 20(4) to (6) of the Pensions Act (Northern Ireland) 2012 (c. 3 (N.I.)), regulation 2(3) of S.R. 2014 No. 213 and regulation 68(10) of S.I. 2019/1514; see also section 80 as amended by Part 3 of Schedule 5 to the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I.22)), Article 258 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)), section 20(1) to (3) of the Pensions Act (Northern Ireland) 2012, paragraph 13 of the Schedule to S.R. 2005 No. 434, regulation 2(2) of S.R. 2014 No. 213 and regulation 68(8) of S.I. 2019/1514

and now vested in the Department for Communities

See Article 8(b) of S.R. 1999 No. 481 and section 1(7) of the Departments Act (Northern Ireland) 2016 (c. 5 (N.I.))

.

The Secretary of State for Work and Pensions has made an Order

S.I. 2021/1308

under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993

1993 c. 48

.

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) 1954

1954 c. 33 (N.I.)

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

(L.S.)Anne McClearyA senior officer of the Department for CommunitiesSCHEDULE

Article 2

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)

EXPLANATORY NOTE(This note is not part of the Order)

This Order, which corresponds to an Order (S.I. 2021/1308) 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. The lower revaluation percentage introduced by the Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.)) does not apply to pensionable service before 6th April 2009.