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The Occupational Pensions (Revaluation) Order (Northern Ireland) 2004

S.R. 2004/475 · Made 15 November 2004

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PENSIONS

Made 15th November 2004

Coming into operation 1st January 2005

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:

Now, therefore, the Department for Social Development, in exercise of the powers conferred by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993f3, and now vested in itf4, and of all other powers enabling it in that behalf, hereby makes the following Order:

Annotations to the whole text

Footnotes

f1

S.I. 2004/2948

f2

1993 c. 48

f3

1993 c. 49

f4

See Article 8(b) of S.R. 1999 No. 481

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) 2004 and shall come into operation on 1st January 2005.

(2)

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 15th November 2004.

L.S.

John O'Neill

A senior officer of the

Department for Social Development

Column 1Column 2
Revaluation periodRevaluation percentage
1st January 1986–31st December 200497.4%
1st January 1987–31st December 200491.5%
1st January 1988–31st December 200483.8%
1st January 1989–31st December 200473.9%
1st January 1990–31st December 200461.6%
1st January 1991–31st December 200445.7%
1st January 1992–31st December 200440.0%
1st January 1993–31st December 200435.1%
1st January 1994–31st December 200432.7%
1st January 1995–31st December 200429.8%
1st January 1996–31st December 200425.0%
1st January 1997–31st December 200422.4%
1st January 1998–31st December 200418.1%
1st January 1999–31st December 200414.5%
1st January 2000–31st December 200413.2%
1st January 2001–31st December 20049.6%
1st January 2002–31st December 20047.8%
1st January 2003–31st December 20046.0%
1st January 2004–31st December 20043.1%
(all dates inclusive)

Explanatory note

(This note is not part of the Order.)

This Order, which corresponds to an Order (S.I. 2004/2948) made by the Secretary of State for Work and Pensions under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993 (c. 48) 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 (c. 49).

This Order does not impose any costs on business.