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The Occupational Pensions (Revaluation) Order 2005
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Statutory Instruments
2005 No. 3156
PENSIONS
The Occupational Pensions (Revaluation) Order 2005
Made
10th November 2005
Laid before Parliament
17th November 2005
Coming into force
1st January 2006
The Secretary of State for Work and Pensions makes the following Order in exercise of the power conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993(1):
Citation and commencement
1.—(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 2005.
(2) This Order shall come into force on 1st January 2006.
The revaluation percentage for each revaluation period
2. For the purposes of paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, the revaluation percentage for each revaluation period specified in column 1 below is the percentage specified in column 2 in relation to that period.
Column 1 Revaluation period | Column 2 Revaluation percentage |
|---|---|
| 1st January 1986-31st December 2005 | 102.7% |
| 1st January 1987-31st December 2005 | 96.6% |
| 1st January 1988-31st December 2005 | 88.7% |
| 1st January 1989-31st December 2005 | 78.5% |
| 1st January 1990-31st December 2005 | 65.9% |
| 1st January 1991-31st December 2005 | 49.6% |
| 1st January 1992-31st December 2005 | 43.7% |
| 1st January 1993-31st December 2005 | 38.7% |
| 1st January 1994-31st December 2005 | 36.3% |
| 1st January 1995-31st December 2005 | 33.4% |
| 1st January 1996-31st December 2005 | 28.3% |
| 1st January 1997-31st December 2005 | 25.7% |
| 1st January 1998-31st December 2005 | 21.3% |
| 1st January 1999-31st December 2005 | 17.6% |
| 1st January 2000-31st December 2005 | 16.3% |
| 1st January 2001-31st December 2005 | 12.6% |
| 1st January 2002-31st December 2005 | 10.7% |
| 1st January 2003-31st December 2005 | 8.8% |
| 1st January 2004-31st December 2005 | 5.9% |
| 1st January 2005-31st December 2005 | 2.7% |
Signed by authority of the Secretary of State for Work and Pensions.
Stephen Timms
Minister of State,
Department for Work and Pensions
10th November 2005
Explanatory Note
(This note is not part of the Order)
This Order is made, as required by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993 (c. 48), in the year beginning 1st January 2005 and specifies revaluation percentages for the purpose of the revaluation on or after 1st January 2006 of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.
A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business.
(1)
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