BAILII [Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback]

Statutory Rules of Northern Ireland
You are here: BAILII >> Databases >> Statutory Rules of Northern Ireland >> The Occupational Pensions (Revaluation) Order (Northern Ireland) 2004 No. 475
URL: http://www.bailii.org/nie/legis/num_reg/2004/20040475.html

[New search] [Help]


2004 No. 475

PENSIONS

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

  Made 15th November 2004 
  Coming into operation 1st January 2005 

Whereas the Secretary of State for Work and Pensions has made an Order[1] under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993[2]:

     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 1993[3], and now vested in it[4], and of all other powers enabling it in that behalf, hereby makes the following Order:

Citation, commencement and interpretation
     1.  - (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) 1954[5] shall apply to this Order as it applies to an Act of the Assembly.

Revaluation percentage for each revaluation period
     2. 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.



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


SCHEDULE
Article 2

Column 1 Column 2
Revaluation period Revaluation percentage
1st January 1986-31st December 2004 97.4%
1st January 1987-31st December 2004 91.5%
1st January 1988-31st December 2004 83.8%
1st January 1989-31st December 2004 73.9%
1st January 1990-31st December 2004 61.6%
1st January 1991-31st December 2004 45.7%
1st January 1992-31st December 2004 40.0%
1st January 1993-31st December 2004 35.1%
1st January 1994-31st December 2004 32.7%
1st January 1995-31st December 2004 29.8%
1st January 1996-31st December 2004 25.0%
1st January 1997-31st December 2004 22.4%
1st January 1998-31st December 2004 18.1%
1st January 1999-31st December 2004 14.5%
1st January 2000-31st December 2004 13.2%
1st January 2001-31st December 2004 9.6%
1st January 2002-31st December 2004 7.8%
1st January 2003-31st December 2004 6.0%
1st January 2004-31st December 2004 3.1%
(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.

Notes:

 [1] S.I. 2004/2948back

[2] 1993 c. 48back

[3] 1993 c. 49back

[4] See Article 8(b) of S.R. 1999 No. 481back

[5] 1954 c. 33 (N.I.)back


ISBN 0 33795737 1


  © Crown copyright 2004

Prepared 22 November 2004

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback | Donate to BAILII
URL: http://www.bailii.org/nie/legis/num_reg/2004/20040475.html