{
  "url": "https://openlegislation.uk/occupational-pensions-revaluation-order-2024/article-2",
  "json_url": "https://openlegislation.uk/occupational-pensions-revaluation-order-2024/article-2.json",
  "legislation": "uksi/2024/1174",
  "legislation_title": "The Occupational Pensions (Revaluation) Order 2024",
  "legislation_url": "https://openlegislation.uk/occupational-pensions-revaluation-order-2024",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": "The higher and lower revaluation percentages for each revaluation period",
  "text": "For the purposes of paragraph 1 of Schedule 3 to the Pension Schemes Act 1993 (methods of revaluing accrued pension benefits: the final salary method), for each revaluation period specified in an entry in column 1 of the table—\n(a) the higher revaluation percentage is the percentage specified in the corresponding entry in column 2 of that table, and\n(b) the lower revaluation percentage, if any, is the percentage specified in the corresponding entry in column 3 of that table.\nColumn 1\nColumn 2\nColumn 3\nRevaluation period\nHigher revaluation percentage\nLower revaluation percentage\n1st January 1986 - 31st December 2024\n248.7%\n-\n1st January 1987 - 31st December 2024\n238.3%\n-\n1st January 1988 - 31st December 2024\n224.6%\n-\n1st January 1989 - 31st December 2024\n207.1%\n-\n1st January 1990 - 31st December 2024\n185.4%\n-\n1st January 1991 - 31st December 2024\n157.4%\n-\n1st January 1992 - 31st December 2024\n147.2%\n-\n1st January 1993 - 31st December 2024\n138.6%\n-\n1st January 1994 - 31st December 2024\n134.4%\n-\n1st January 1995 - 31st December 2024\n129.4%\n-\n1st January 1996 - 31st December 2024\n120.8%\n-\n1st January 1997 - 31st December 2024\n116.2%\n-\n1st January 1998 - 31st December 2024\n108.7%\n-\n1st January 1999 - 31st December 2024\n102.2%\n-\n1st January 2000 - 31st December 2024\n100.0%\n-\n1st January 2001 - 31st December 2024\n93.7%\n-\n1st January 2002 - 31st December 2024\n90.4%\n-\n1st January 2003 - 31st December 2024\n87.2%\n-\n1st January 2004 - 31st December 2024\n82.1%\n-\n1st January 2005 - 31st December 2024\n76.7%\n-\n1st January 2006 - 31st December 2024\n72.0%\n-\n1st January 2007 - 31st December 2024\n66.0%\n-\n1st January 2008 - 31st December 2024\n59.8%\n-\n1st January 2009 - 31st December 2024\n52.2%\n48.5%\n1st January 2010 - 31st December 2024\n54.4%\n44.8%\n1st January 2011 - 31st December 2024\n49.7%\n41.3%\n1st January 2012 - 31st December 2024\n42.3%\n37.9%\n1st January 2013 - 31st December 2024\n39.2%\n34.5%\n1st January 2014 - 31st December 2024\n35.6%\n31.2%\n1st January 2015 - 31st December 2024\n34.0%\n28.0%\n1st January 2016 - 31st December 2024\n34.1%\n24.9%\n1st January 2017 - 31st December 2024\n32.8%\n21.8%\n1st January 2018 - 31st December 2024\n28.9%\n18.9%\n1st January 2019 - 31st December 2024\n25.9%\n16.0%\n1st January 2020 - 31st December 2024\n23.8%\n13.1%\n1st January 2021 - 31st December 2024\n21.6%\n10.4%\n1st January 2022 - 31st December 2024\n15.8%\n7.7%\n1st January 2023 - 31st December 2024\n8.5%\n5.1%\n1st January 2024 - 31st December 2024\n1.7%\n1.7%",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph 1(1) to (3A) of Schedule 3 was substituted by 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)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "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 paragraphs 1 and 3(1) and (3) of Schedule 2 to the Pensions Act 2008."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "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 paragraphs 1 and 3(1) and (3) of Schedule 2 to the Pensions Act 2008."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2024/1174/article/2",
    "retrieved_at": "2026-10-28T21:24:14.098146+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}