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The Occupational Pensions (Revaluation) Order (Northern Ireland) 1998

S.R. 1998/420 · Made 27 November 1998

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

PENSIONS

Made 27th November 1998

Coming into operation 1st January 1999

Whereas the Secretary of State for Social Security has made an Orderf1 under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993f2:

Now, therefore, the Department of Health and Social Services for Northern Ireland, in exercise of the powers conferred on it by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993f3 and of all other powers enabling it in that behalf, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

S.I. 1998/2921

f2

1993 c. 48

f3

1993 c. 49

Contents

  1. 1Citation, commencement and interpretation
  2. 2Revaluation percentage for each revaluation period
  3. Signature
  4. Schedule Schedule
  5. Explanatory note

1Citation, commencement and interpretation

(1)

This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 1998 and shall come into operation on 1st January 1999.

(2)

The Interpretation Act (Northern Ireland) 1954f1 shall apply to this Order as it applies to a Measure of the Assembly.

2Revaluation percentage for each revaluation period

For the purposes of paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993, the revaluation percentage for each revaluation period specified in column 1 of the Schedule is the percentage specified opposite thereto in column 2.

Signature

Sealed with the Official Seal of the Department of Health and Social Services for Northern Ireland on

L.S.

John O'Neill

Assistant Secretary

27th November 1998.

Column 1Column 2
Revaluation PeriodRevaluation Percentage
1st January 1986–31st December 199872.4%
1st January 1987–31st December 199867.3%
1st January 1988–31st December 199860.5%
1st January 1989–31st December 199851.9%
1st January 1990–31st December 199841.1%
1st January 1991–31st December 199827.3%
1st January 1992–31st December 199822.2%
1st January 1993–31st December 199818.0%
1st January 1994–31st December 199815.9%
1st January 1995–31st December 199813.4%
1st January 1996–31st December 19989.2%
1st January 1997–31st December 19986.9%
1st January 1998–31st December 19983.2%
(all dates inclusive)

Explanatory note

(This note is not part of the Order.)

This Order which corresponds to an Order (S.I. 1998/2921) made by the Secretary of State for Social Security under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, specifies appropriate revaluation percentages. The percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 80 of, and Schedule 2 to, the Pension Schemes (Northern Ireland) Act 1993.