Paragraph 8
(1)
Section 51ZA of the Pensions Act 1995 (c. 26) (meaning of “the appropriate percentage”) is amended as follows.
(2)
In subsection (1)—
(a)
in paragraph (a), for “revaluation percentage” substitute “ higher revaluation percentage ”;
(b)
for paragraph (b) substitute—
“(b)in the case of a category Y pension, means the lower revaluation percentage for that period.”
(3)
In subsection (2), for “ “the revaluation percentage”” substitute “ “ “the higher revaluation percentage”, “the lower revaluation percentage” ”.