http://www.legislation.gov.uk/uksi/2012/2952/madeThe Occupational Pensions (Revaluation) Order 2012Occupational pensionsenKing's Printer of Acts of Parliament2012-11-29PENSIONS 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 2012, and specifies the necessary revaluation percentages for the purpose of the revaluation on or after 1st January 2013 of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act. It is not necessary to specify a lower revaluation percentage for revaluation periods which start before 1st January 2009. 2012 No. 2952 Pensions The Occupational Pensions (Revaluation) Order 2012 Made 26th November 2012 Laid before Parliament 29th November 2012 Coming into force 1st January 2013 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. Citation and commencement 1 1 This Order may be cited as the Occupational Pensions (Revaluation) Order 2012. 2 This Order shall come into force on 1st January 2013. The higher and lower revaluation percentages for each revaluation period 2 For the purposes of paragraph 2(1) of Schedule 3 (methods of revaluing accrued pension benefits) to the Pension Schemes Act 1993, for each revaluation period specified in column 1 below, the higher revaluation percentage is the percentage specified in column 2, and the lower revaluation percentage, if any, is the percentage specified in column 3, in relation to that period.
Column 1Column 2Column 3
Revaluation periodHigher revaluation percentage Lower revaluation percentage
1st January 1986 - 31st December 2012150.4%-
1st January 1987 - 31st December 2012142.9%-
1st January 1988 - 31st December 2012133.1%-
1st January 1989 - 31st December 2012120.6%-
1st January 1990 - 31st December 2012105.0%-
1st January 1991 - 31st December 201284.8%-
1st January 1992 - 31st December 201277.6%-
1st January 1993 - 31st December 201271.4%-
1st January 1994 - 31st December 201268.4%-
1st January 1995 - 31st December 201264.7%-
1st January 1996 - 31st December 201258.5%-
1st January 1997 - 31st December 201255.3%-
1st January 1998 - 31st December 201249.9%-
1st January 1999 - 31st December 201245.2%-
1st January 2000 - 31st December 201243.7%-
1st January 2001 - 31st December 201239.1%-
1st January 2002 - 31st December 201236.7%-
1st January 2003 - 31st December 201234.5%-
1st January 2004 - 31st December 201230.8%-
1st January 2005 - 31st December 201226.9%-
1st January 2006 - 31st December 201223.5%-
1st January 2007 - 31st December 201219.2%-
1st January 2008 - 31st December 201214.8%-
1st January 2009 - 31st December 20129.3%9.3%
1st January 2010 - 31st December 201210.8%7.7%
1st January 2011 - 31st December 20127.5%5.1%
1st January 2012 - 31st December 20122.2%2.2%
Signed by authority of the Secretary of State for Work and Pensions. Steve Webb Minister of State, Department for Work and Pensions 26th November 2012 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 2012, and specifies the necessary revaluation percentages for the purpose of the revaluation on or after 1st January 2013 of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act. It is not necessary to specify a lower revaluation percentage for revaluation periods which start before 1st January 2009.

This Order amends an existing regulatory regime by a pre-determined formula, and the administrative impact of its implementation is negligible. A full impact assessment is not necessary for such legislation.

 1993 c. 48; paragraph 2(1) of Schedule 3 was amended by the Pensions Act 2008 (c. 30), section 101 and Schedule 2, paragraphs 1 and 3(1) and (2).