# The Occupational Pensions (Revaluation) Order 2020 S.I. 2020/1332 · made 20 November 2020 Section 84 of the Pension Schemes Act 1993 (c. 48) requires pensions and other benefits under occupational pension schemes to be revalued by the final salary method (which is dealt with in Schedule 3 to that Act). For the purposes of that revaluation, and as required by paragraph 2 of Schedule 3 to that Act, this Order specifies the necessary revaluation percentages for the purpose of the revaluation on, or after, 1st January 2021 of benefits under occupational pension schemes. It is not necessary to specify a lower revaluation percentage for revaluation periods which start before 1st January 2009. Made under: Pension Schemes Act 1993 (Schedule 3 paragraph 2) PDFs: Printed copy https://openlegislation.uk/occupational-pensions-revaluation-order-2020/pdf/uksi_20201332_en.pdf; UK Explanatory Memorandum https://openlegislation.uk/occupational-pensions-revaluation-order-2020/pdf/uksiem_20201332_en.pdf ## Introductory text Pensions Made 20th November 2020 Laid before Parliament 24th November 2020 Coming into force 1st January 2021 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 This Order may be cited as the Occupational Pensions (Revaluation) Order 2020 and comes into force on 1st January 2021. ## 2 The higher and lower revaluation percentages for each revaluation period For the purposes of paragraph 1 (the final salary method) of Schedule 3 (methods of revaluing accrued pension benefits) to the Pension Schemes Act 1993, for each revaluation period specified in an entry in column 1 of the table below— (a) the higher revaluation percentage is the percentage specified in the corresponding entry in column 2 of that table; and (b) the lower revaluation percentage, if any, is the percentage specified in the corresponding entry in column 3 of that table. Column 1 Revaluation period Column 2 Higher revaluation percentage Column 3 Lower revaluation percentage 1st January 1986 - 31st December 2020 183.1% - 1st January 1987 - 31st December 2020 174.6% - 1st January 1988 - 31st December 2020 163.5% - 1st January 1989 - 31st December 2020 149.3% - 1st January 1990 - 31st December 2020 131.7% - 1st January 1991 - 31st December 2020 108.9% - 1st January 1992 - 31st December 2020 100.7% - 1st January 1993 - 31st December 2020 93.7% - 1st January 1994 - 31st December 2020 90.3% - 1st January 1995 - 31st December 2020 86.2% - 1st January 1996 - 31st December 2020 79.2% - 1st January 1997 - 31st December 2020 75.5% - 1st January 1998 - 31st December 2020 69.4% - 1st January 1999 - 31st December 2020 64.2% - 1st January 2000 - 31st December 2020 62.4% - 1st January 2001 - 31st December 2020 57.2% - 1st January 2002 - 31st December 2020 54.6% - 1st January 2003 - 31st December 2020 52.0% - 1st January 2004 - 31st December 2020 47.9% - 1st January 2005 - 31st December 2020 43.4% - 1st January 2006 - 31st December 2020 39.6% - 1st January 2007 - 31st December 2020 34.8% - 1st January 2008 - 31st December 2020 29.7% - 1st January 2009 - 31st December 2020 23.6% 23.6% 1st January 2010 - 31st December 2020 25.3% 25.3% 1st January 2011 - 31st December 2020 21.5% 21.5% 1st January 2012 - 31st December 2020 15.5% 15.5% 1st January 2013 - 31st December 2020 13.0% 13.0% 1st January 2014 - 31st December 2020 10.1% 10.1% 1st January 2015 - 31st December 2020 8.8% 8.8% 1st January 2016 - 31st December 2020 8.9% 8.9% 1st January 2017 - 31st December 2020 7.8% 7.8% 1st January 2018 - 31st December 2020 4.7% 4.7% 1st January 2019 - 31st December 2020 2.2% 2.2% 1st January 2020 – 31st December 2020 0.5% 0.5% ## Signature Signed by authority of the Secretary of State for Work and Pensions Guy Opperman Parliamentary Under Secretary of State Department for Work and Pensions 20th November 2020 ## Explanatory note (This note is not part of the Order) Section 84 of the Pension Schemes Act 1993 (c. 48) requires pensions and other benefits under occupational pension schemes to be revalued by the final salary method (which is dealt with in Schedule 3 to that Act). For the purposes of that revaluation, and as required by paragraph 2 of Schedule 3 to that Act, this Order specifies the necessary revaluation percentages for the purpose of the revaluation on, or after, 1st January 2021 of benefits under occupational pension schemes. 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 has not been produced for this Order as no, or no significant, impact on the private, voluntary or public sector is foreseen. --- Source: https://www.legislation.gov.uk/uksi/2020/1332 (the official version) Page: https://openlegislation.uk/occupational-pensions-revaluation-order-2020 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.