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United Kingdom Statutory Instruments
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URL: http://www.bailii.org/uk/legis/num_reg/2007/20073369.html

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STATUTORY INSTRUMENTS

2007 No. 3369

PENSIONS

The Occupational Pensions (Revaluation) Order 2007

  Made 26th November 2007 
  Laid before Parliament 3rd December 2007 
  Coming into force 1st January 2008 

The Secretary of State for Work and Pensions makes the following Order in exercise of the powers conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993[1].

Citation and commencement
     1. —(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 2007.

    (2) This Order shall come into force on 1st January 2008.

The revaluation percentage for each revaluation period
     2. For the purposes of paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, the revaluation percentage for each revaluation period specified in column 1 below is the percentage specified in column 2 in relation to that period.

Column 1 Column 2
Revaluation period Revaluation percentage
1st January 1986 - 31st December 2007 118.2%
1st January 1987 - 31st December 2007 111.7%
1st January 1988 - 31st December 2007 103.1%
1st January 1989 - 31st December 2007 92.2%
1st January 1990 - 31st December 2007 78.6%
1st January 1991 - 31st December 2007 61.1%
1st January 1992 - 31st December 2007 54.7%
1st January 1993 - 31st December 2007 49.3%
1st January 1994 - 31st December 2007 46.7%
1st January 1995 - 31st December 2007 43.5%
1st January 1996 - 31st December 2007 38.2%
1st January 1997 - 31st December 2007 35.3%
1st January 1998 - 31st December 2007 30.6%
1st January 1999 - 31st December 2007 26.6%
1st January 2000 - 31st December 2007 25.2 %
1st January 2001 - 31st December 2007 21.2%
1st January 2002 - 31st December 2007 19.2%
1st January 2003 - 31st December 2007 17.2%
1st January 2004 - 31st December 2007 14.0%
1st January 2005 - 31st December 2007 10.5%
1st January 2006 - 31st December 2007 7.6%
1st January 2007 - 31st December 2007 3.9%



Signed by authority of the Secretary of State for Work and Pensions.


Mike O'Brien
Minister of State, Department for Work and Pensions

26th November 2007


EXPLANATORY NOTE

(This note is not part of the Order)


This Order is made, as required by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993 (c.48), in the year beginning 1st January 2007 and specifies the revaluation percentages for the purpose of the revaluation on or after 1st January 2008 of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.

A full impact assessment has not been produced for this instrument as it has negligible impact on the costs of business, charities or the voluntary sector.

Notes:

 [1] 1993 c.48back


ISBN 978 0 11 080117 9


 © Crown copyright 2007

Prepared 3 December 2007

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URL: http://www.bailii.org/uk/legis/num_reg/2007/20073369.html