Article 2 The higher and lower revaluation percentages for each revaluation period
For the purposes of paragraph 1 of Schedule 3 to the Pension Schemes Act 1993f1 (methods of revaluing accrued pension benefits: the final salary method), for each revaluation period specified in an entry in column 1 of the table below—
the higher revaluation percentagef2 is the percentage specified in the corresponding entry in column 2 of that table; and
the lower revaluation percentagef3, 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 2022 | 221.4% | - |
| 1st January 1987 - 31st December 2022 | 211.7% | - |
| 1st January 1988 - 31st December 2022 | 199.2% | - |
| 1st January 1989 - 31st December 2022 | 183.0% | - |
| 1st January 1990 - 31st December 2022 | 163.0% | - |
| 1st January 1991 - 31st December 2022 | 137.2% | - |
| 1st January 1992 - 31st December 2022 | 127.8% | - |
| 1st January 1993 - 31st December 2022 | 119.9% | - |
| 1st January 1994 - 31st December 2022 | 116.0% | - |
| 1st January 1995 - 31st December 2022 | 111.4% | - |
| 1st January 1996 - 31st December 2022 | 103.4% | - |
| 1st January 1997 - 31st December 2022 | 99.3% | - |
| 1st January 1998 - 31st December 2022 | 92.3% | - |
| 1st January 1999 - 31st December 2022 | 86.4% | - |
| 1st January 2000 - 31st December 2022 | 84.3% | - |
| 1st January 2001 - 31st December 2022 | 78.5% | - |
| 1st January 2002 - 31st December 2022 | 75.5% | - |
| 1st January 2003 - 31st December 2022 | 72.5% | - |
| 1st January 2004 - 31st December 2022 | 67.8% | - |
| 1st January 2005 - 31st December 2022 | 62.8% | - |
| 1st January 2006 - 31st December 2022 | 58.5% | - |
| 1st January 2007 - 31st December 2022 | 53.0% | - |
| 1st January 2008 - 31st December 2022 | 47.3% | - |
| 1st January 2009 - 31st December 2022 | 40.3% | 40.3% |
| 1st January 2010 - 31st December 2022 | 42.2% | 37.9% |
| 1st January 2011 - 31st December 2022 | 38.0% | 34.5% |
| 1st January 2012 - 31st December 2022 | 31.1% | 31.1% |
| 1st January 2013 - 31st December 2022 | 28.3% | 28.0% |
| 1st January 2014 - 31st December 2022 | 25.0% | 24.9% |
| 1st January 2015 - 31st December 2022 | 23.5% | 21.8% |
| 1st January 2016 - 31st December 2022 | 23.6% | 18.9% |
| 1st January 2017 - 31st December 2022 | 22.4% | 16.0% |
| 1st January 2018 - 31st December 2022 | 18.8% | 13.1% |
| 1st January 2019 - 31st December 2022 | 16.0% | 10.4% |
| 1st January 2020 - 31st December 2022 | 14.1% | 7.7% |
| 1st January 2021 - 31st December 2022 | 10.3% | 5.1% |
| 1st January 2022 - 31st December 2022 | 5.0% | 2.5% |
Annotations
Footnotes
- f1
-
Paragraph 1(1) to (3A) of Schedule 3 was substituted by section 101 of, and paragraphs 1 and 2 of Schedule 2 to, the Pensions Act 2008. Paragraph 1(1E) of Schedule 3 was amended by paragraphs 18 and 26 of Schedule 4 to the Marriage (Same Sex Couples) Act 2013 (c. 30) and paragraph 11(1) and (9) of Schedule 5 to S.I. 2014/3229. Paragraph 1(5) and (6) of Schedule 3 was inserted by section 19(4) and (5) of the Pensions Act 2011 (c. 19).
- f2
-
Provision as to the higher revaluation percentage which the Secretary of State is to specify in relation to a revaluation period is made in paragraph 2(3) of Schedule 3 to the Pension Schemes Act 1993. Paragraph 2(3) of Schedule 3 was substituted by section 101 of, and paragraphs 1 and 3(1) and (3) of Schedule 2 to, the Pensions Act 2008.
- f3
-
Provision as to the lower revaluation percentage which the Secretary of State is to specify in relation to a revaluation period is made in paragraph 2(3A) of Schedule 3 to the Pension Schemes Act 1993. Paragraph 2(3A) of Schedule 3 was substituted by section 101 of, and paragraphs 1 and 3(1) and (3) of Schedule 2 to, the Pensions Act 2008.