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The Occupational Pensions (Revaluation) Order 1987

S.I. 1987/1981 · Made 23 November 1987

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

PENSIONS

Made 23rd November 1987

Laid before Parliament 27th November 1987

Coming into force 1st January 1988

Whereas the revaluation percentages specified in the following Order are the percentages which appear to the Secretary of State, in the light of the information available to him, to be the percentage increases in prices in Great Britain during the periods from—

  • 1st October 1985 to 30th September 1987 inclusive (“the first period”); and

  • 1st October 1986 to 30th September 1987 inclusive (“the second period”),

respectively (“the reference periods”)f1;

And whereas the first period is the reference period (relating to the revaluation period with the earliest commencement date set out in the Schedule to the following Order) beginning at the commencement of the reference period to which the first Order (“the first Order”)f2 under section 52A of the Social Security Pensions Act 1975f3 related, and ending on the latest anniversary of the end of that period, to fall before the making of the following Orderf4;

And whereas the second period is the reference period (relating to the other revaluation period set out in the Schedule to the following Order — “the second revaluation period”) beginning on the last anniversary of the commencement of the reference period to which the first Order related to fall before the commencement of the second revaluation period, and ending on the last anniversary of the end of that reference period to fall before the making of the following Orderf5;

Now, therefore, the Secretary of State for Social Services, in exercise of the powers conferred upon him by section 52A(1) of the Social Security Pensions Act 1975 and of all other powers enabling him in that behalf, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

See section 52A(3) of the Social Security Pensions Act 1975 (c. 60).

f2

S.I. 1986/2070.

f3

1975 c. 60; section 52A was inserted by section 2 of, and paragraph 2 of Schedule 1 to, the Social Security Act 1985 (c. 53).

f4

See section 52A(6) of the Social Security Pensions Act 1975.

f5

See section 52A(7) of the Social Security Pensions Act 1975.

Contents

  1. 1Citation, commencement and interpretation
  2. 2Revaluation percentage
  3. Signature
  4. Schedule Schedule
  5. Explanatory note

1Citation, commencement and interpretation

(1)

This Order may be cited as the Occupational Pensions (Revaluation) Order 1987, and shall come into force on 1st January 1988.

(2)

In this Order—

  • “the Act” means the Social Security Pensions Act 1975;

  • “revaluation period” and “revaluation year” have the same meaning as in section 52A(2) of the Act.

2Revaluation percentage

For the purposes of sections 52A and 52B of, and Schedule 1A to, the Act, and in respect of the revaluation year beginning on 1st January 1987, the revaluation percentage in respect of a revaluation period set out in the first column of the Schedule to this Order shall be the percentage set opposite that period in the second column of that Schedule.

Signature

Signed by authority of the Secretary of State for Social Services.

Nicholas Scott

Minister of State,

Department of Health and Social Security

23rd November 1987

Revaluation PeriodRevaluation Percentage
1st January 1986 — 31st December 1987 (inclusive)7.3%
1st January 1987 — 31st December 1987 (inclusive)4.2%

Explanatory note

(This note is not part of the Order)

Section 52A of the Social Security Pensions Act 1975 (inserted by section 2 of, and Schedule 1 to, the Social Security Act 1985) defines the terms “revaluation period” and “revaluation year” and requires the Secretary of State to specify by Order, in each revaluation year, a “revaluation percentage” for each revaluation period.

This Order, made in the second revaluation year (1st January 1987 to 31st December 1987), specifies the appropriate revaluation percentage for each of the revaluation periods set out in the Schedule to it. The percentages are relevant to the revaluation of occupational pensions which is required by Schedule 1A to the Act of 1975 (inserted by section 2 of, and Schedule 1 to, the Act of 1985).