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The Occupational Pensions (Revaluation) Order 1996

S.I. 1996/2926 · Made 21 November 1996

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 21st November 1996

Laid before Parliament 28th November 1996

Coming into force 1st January 1997

The Secretary of State for Social Security, in exercise of the powers conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993f1, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

1993 c. 48.

Contents

  1. 1Citation and commencement
  2. 2The revaluation percentage for each revaluation period
  3. Signature
  4. Explanatory note

1Citation and commencement

(1)

This Order may be cited as the Occupational Pensions (Revaluation) Order 1996.

(2)

This Order shall come into force on 1st January 1997.

2The revaluation percentage for each revaluation period

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 appropriate percentage specified in column 2.

Column 1Column 2
Revaluation PeriodRevaluation Percentage
January 1986 — 31st December 199661.3%
1st January 1987 — 31st December 199656.4%
1st January 1988 — 31st December 199650.1%
1st January 1989 — 31st December 199642.0%
1st January 1990 — 31st December 199632.0%
1st January 1991 — 31st December 199619.0%
1st January 1992 — 31st December 199614.3%
1st January 1993 — 31st December 199610.4%
1st January 1994 — 31st December 199608.4%
1st January 1995 — 31st December 199606.1%
1st January 1996 — 31st December 199602.1%

Signature

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

Oliver Heald

Parliamentary Under-Secretary of State,

Department of Social Security

21st November 1996

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, in the revaluation year beginning on 1st January 1996. The revaluation percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.

This Order does not impose any costs on business.