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Article 2 The higher and lower revaluation percentages for each revaluation period

Original text. Later amendments are not shown.

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)f1, for each revaluation period specified in an entry in column 1 of the table—

(a)

the higher revaluation percentagef2 is the percentage specified in the corresponding entry in column 2 of that table, and

(b)

the lower revaluation percentagef3, if any, is the percentage specified in the corresponding entry in column 3 of that table.

Column 1 Revaluation periodColumn 2 Higher revaluation percentageColumn 3 Lower revaluation percentage
1st January 1986 - 31st December 2025262.0%
1st January 1987 - 31st December 2025251.1%
1st January 1988 - 31st December 2025237.0%
1st January 1989 - 31st December 2025218.8%
1st January 1990 - 31st December 2025196.3%
1st January 1991 - 31st December 2025167.2%
1st January 1992 - 31st December 2025156.6%
1st January 1993 - 31st December 2025147.7%
1st January 1994 - 31st December 2025143.3%
1st January 1995 - 31st December 2025138.1%
1st January 1996 - 31st December 2025129.2%
1st January 1997 - 31st December 2025124.4%
1st January 1998 - 31st December 2025116.6%
1st January 1999 - 31st December 2025109.9%
1st January 2000 - 31st December 2025107.6%
1st January 2001 - 31st December 2025101.0%
1st January 2002 - 31st December 202597.7%
1st January 2003 - 31st December 202594.3%
1st January 2004 - 31st December 202589.1%
1st January 2005 - 31st December 202583.4%
1st January 2006 - 31st December 202578.5%
1st January 2007 - 31st December 202572.3%
1st January 2008 - 31st December 202565.9%
1st January 2009 - 31st December 202558.0%52.2%
1st January 2010 - 31st December 202560.2%48.5%
1st January 2011 - 31st December 202555.4%44.8%
1st January 2012 - 31st December 202547.7%41.3%
1st January 2013 - 31st December 202544.5%37.9%
1st January 2014 - 31st December 202540.7%34.5%
1st January 2015 - 31st December 202539.1%31.2%
1st January 2016 - 31st December 202539.2%28.0%
1st January 2017 - 31st December 202537.8%24.9%
1st January 2018 - 31st December 202533.8%21.8%
1st January 2019 - 31st December 202530.7%18.9%
1st January 2020 - 31st December 202528.5%16.0%
1st January 2021 - 31st December 202527.6%13.1%
1st January 2022 - 31st December 202521.6%10.4%
1st January 2023 - 31st December 202512.6%7.7%
1st January 2024 - 31st December 20255.6%5.1%
1st January 2025 - 31st December 20253.8%2.5%

Annotations

Footnotes

f1

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).

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 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 paragraphs 1 and 3(1) and (3) of Schedule 2 to the Pensions Act 2008.