# The Occupational Pensions (Revaluation) Order (Northern Ireland) 2024 S.R. 2024/200 · made 26 November 2024 · revised to 1 January 2025 This Order, which corresponds to an Order (S.I. 2024/1174) 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. The lower revaluation percentage introduced by the Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.)) does not apply to pensionable service before 6th April 2009. Made under: Pension Schemes (Northern Ireland) Act 1993 (Schedule 2 paragraph 2); Pension Schemes Act 1993 PDFs: Printed copy https://openlegislation.uk/occupational-pensions-revaluation-order-northern-ireland-2024/pdf/nisr_20240200_en.pdf; NI Explanatory Memorandum https://openlegislation.uk/occupational-pensions-revaluation-order-northern-ireland-2024/pdf/nisrem_20240200_en_001.pdf ## Introductory text Pensions Made 26th November 2024 Coming into operation 1st January 2025 This Order is made in exercise of the powers conferred by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993 and now vested in the Department for Communities. The Secretary of State for Work and Pensions has made an Order under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993. Accordingly the Department for Communities makes the following Order: ## 1 Citation, commencement and interpretation (1) This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2024 and shall come into operation on 1st January 2025. (2) The Interpretation Act (Northern Ireland) 1954 shall apply to this Order as it applies to an Act of the Assembly. ## 2 The higher and lower revaluation percentages for each revaluation period For the purposes of paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993 (methods of revaluing accrued pension benefits), for each revaluation period specified in column 1 of the Schedule— (a) the higher revaluation percentage is the percentage specified in column 2, and (b) the lower revaluation percentage, where applicable, is the percentage specified in column 3, in relation to that period. ## Signature Sealed with the Official Seal of the Department for Communities on 26th November 2024 (L.S.) David Tarr A senior officer of the Department for Communities ## Schedule 1 Column 1 Revaluation period Column 2 Higher revaluation percentage Column 3 Lower revaluation percentage 1st January 1986 – 31st December 2024 248.7% - 1st January 1987 – 31st December 2024 238.3% - 1st January 1988 – 31st December 2024 224.6% - 1st January 1989 – 31st December 2024 207.1% - 1st January 1990 – 31st December 2024 185.4% - 1st January 1991 – 31st December 2024 157.4% - 1st January 1992 – 31st December 2024 147.2% - 1st January 1993 – 31st December 2024 138.6% - 1st January 1994 – 31st December 2024 134.4% - 1st January 1995 – 31st December 2024 129.4% - 1st January 1996 – 31st December 2024 120.8% - 1st January 1997 – 31st December 2024 116.2% - 1st January 1998 – 31st December 2024 108.7% - 1st January 1999 – 31st December 2024 102.2% - 1st January 2000 – 31st December 2024 100.0% - 1st January 2001 – 31st December 2024 93.7% - 1st January 2002 – 31st December 2024 90.4% - 1st January 2003 – 31st December 2024 87.2% - 1st January 2004 – 31st December 2024 82.1% - 1st January 2005 – 31st December 2024 76.7% - 1st January 2006 – 31st December 2024 72.0% - 1st January 2007 – 31st December 2024 66.0% - 1st January 2008 – 31st December 2024 59.8% - 1st January 2009 – 31st December 2024 52.2% 48.5% 1st January 2010 – 31st December 2024 54.4% 44.8% 1st January 2011 – 31st December 2024 49.7% 41.3% 1st January 2012 – 31st December 2024 42.3% 37.9% 1st January 2013 – 31st December 2024 39.2% 34.5% 1st January 2014 – 31st December 2024 35.6% 31.2% 1st January 2015 – 31st December 2024 34.0% 28.0% 1st January 2016 – 31st December 2024 34.1% 24.9% 1st January 2017 – 31st December 2024 32.8% 21.8% 1st January 2018 – 31st December 2024 28.9% 18.9% 1st January 2019 – 31st December 2024 25.9% 16.0% 1st January 2020 – 31st December 2024 23.8% 13.1% 1st January 2021 – 31st December 2024 21.6% 10.4% 1st January 2022 – 31st December 2024 15.8% 7.7% 1st January 2023 – 31st December 2024 8.5% 5.1% 1st January 2024 – 31st December 2024 1.7% 1.7% (all dates inclusive) ## Explanatory note (This note is not part of the Order) This Order, which corresponds to an Order (S.I. 2024/1174) 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. The lower revaluation percentage introduced by the Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.)) does not apply to pensionable service before 6th April 2009. --- Source: https://www.legislation.gov.uk/nisr/2024/200 (the official version) Page: https://openlegislation.uk/occupational-pensions-revaluation-order-northern-ireland-2024 Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.