The Occupational Pensions (Revaluation) Order (Northern Ireland) 2002
S.R. 2002/369 · Made 2 December 2002
PENSIONS
Made 2nd December 2002
Coming into operation 1st January 2003
Whereas the Secretary of State for Work and Pensions has made an Orderf1 under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993f2:
Annotations to the whole text
Footnotes
- f1
-
S.I. 2002/2951
- f2
Contents
- 1Citation, commencement and interpretation
- 2Revaluation percentage for each revaluation period
- Signature
- Schedule Schedule
- Explanatory note
1Citation, commencement and interpretation
This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2002 and shall come into operation on 1st January 2003.
The Interpretation Act (Northern Ireland) 1954f1 shall apply to this Order as it applies to an Act 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 for Social Development on 2nd December 2002.
L.S.
John O'Neill
Senior Officer of the
Department for Social Development
| Column 1 | Column 2 |
|---|---|
| Revaluation Period | Revaluation Percentage |
| 1st January 1986 – 31st December 2002 | 86·3% |
| 1st January 1987 – 31st December 2002 | 80·7% |
| 1st January 1988 – 31st December 2002 | 73·4% |
| 1st January 1989 – 31st December 2002 | 64·0% |
| 1st January 1990 – 31st December 2002 | 52·4% |
| 1st January 1991 – 31st December 2002 | 37·5% |
| 1st January 1992 – 31st December 2002 | 32·0% |
| 1st January 1993 – 31st December 2002 | 27·5% |
| 1st January 1994 – 31st December 2002 | 25·2% |
| 1st January 1995 – 31st December 2002 | 22·5% |
| 1st January 1996 – 31st December 2002 | 17·9% |
| 1st January 1997 – 31st December 2002 | 15·5% |
| 1st January 1998 – 31st December 2002 | 11·5% |
| 1st January 1999 – 31st December 2002 | 8·0% |
| 1st January 2000 – 31st December 2002 | 6·8% |
| 1st January 2001 – 31st December 2002 | 3·4% |
| 1st January 2002 – 31st December 2002 | 1·7% |
| (all dates inclusive) |
Explanatory note
(This note is not part of the Order.)
This Order, which corresponds to an Order (S.I. 2002/2951) made by the Secretary of State for Work and Pensions 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.