# The Occupational Pensions (Revaluation) Order 2003

S.I. 2003/3002 · made 23 November 2003

This Order is made, as required by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, in the year beginning 1st January 2003 and specifies revaluation percentages for the purpose of the revaluation on or after 1st January 2004 of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.

Made under: Pension Schemes Act 1993 (Schedule 3 paragraph 2)

PDFs: Printed copy https://openlegislation.uk/occupational-pensions-revaluation-order-2003/pdf/uksi_20033002_en.pdf

## Introductory text

PENSIONS
Made 23rd November 2003
Laid before Parliament 28th November 2003
Coming into force 1st January 2004
The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, hereby makes the following Order:

## 1 Citation and commencement

(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 2003.
(2) This Order shall come into force on 1st January 2004.

## 2 The 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 percentage specified in column 2 in relation to that period.
Column 1
Column 2
Revaluation period
Revaluation percentage
1st January 1986–31st December 2003
91.5%
1st January 1987–31st December 2003
85.7%
1st January 1988–31st December 2003
78.2%
1st January 1989–31st December 2003
68.6%
1st January 1990–31st December 2003
56.7%
1st January 1991–31st December 2003
41.3%
1st January 1992–31st December 2003
35.7%
1st January 1993–31st December 2003
31.0%
1st January 1994–31st December 2003
28.7%
1st January 1995–31st December 2003
25.9%
1st January 1996–31st December 2003
21.2%
1st January 1997–31st December 2003
18.7%
1st January 1998–31st December 2003
14.6%
1st January 1999–31st December 2003
11.0%
1st January 2000–31st December 2003
9.8%
1st January 2001–31st December 2003
6.3%
1st January 2002–31st December 2003
4.5%
1st January 2003–31st December 2003
2.8%

## Signature

Signed by authority of the Secretary of State for Work and Pensions.
Malcolm Wicks
Minister of State,
Department for Work and Pensions
23rd November 2003

## 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 year beginning 1st January 2003 and specifies revaluation percentages for the purpose of the revaluation on or after 1st January 2004 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.

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Source: https://www.legislation.gov.uk/uksi/2003/3002 (the official version)
Page: https://openlegislation.uk/occupational-pensions-revaluation-order-2003
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.