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3. In regulation U1, (interpretation)—
(a)in the definition of “the existing Orders”, after “Order 2009” insert—
““the Pensions Increase (Review) Order 2011 M1, the Pensions Increase (Review) Order 2012 M2, the Pensions Increase (Review) Order 2013 M3, the Pensions Increase (Review) Order 2014 M4, the Pensions Increase (Review) Order 2015 M5, the Pensions Increase (Review) Order 2017 M6, the Pensions Increase (Review) Order 2018 M7 and the Pensions Increase (Review) Order 2019 ”, andM8
(b)after the definition of “guaranteed minimum pension”, insert—
““the reconciliation exercise” means the exercise undertaken by the relevant administering authority to check the scheme data on individual contracting-out records with that held by Her Majesty's Revenue and Customs,”.
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