Statutory Instruments
1995 No. 3021
PENSIONS
The Occupational Pensions (Revaluation) Order 1995
Made
22nd November 1995
Laid before Parliament
29th November 1995
Coming into force
1st January 1996
The Secretary of State for Social Security, in exercise of the powers conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993(1), hereby makes the following Order:
Citation and commencement
1.—(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 1995.
(2) This Order shall come into force on 1st January 1996.
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 appropriate percentage specified in column 2.
| Column 1 | Column 2 |
|---|---|
| Revaluation Period | Revaluation Percentage |
| 1st January 1986 – 31st December 1995 | 58.0% |
| 1st January 1987 – 31st December 1995 | 53.2% |
| 1st January 1988 – 31st December 1995 | 47.0% |
| 1st January 1989 – 31st December 1995 | 39.1% |
| 1st January 1990 – 31st December 1995 | 29.3% |
| 1st January 1991 – 31st December 1995 | 16.6% |
| 1st January 1992 – 31st December 1995 | 12.0% |
| 1st January 1993 – 31st December 1995 | 08.1% |
| 1st January 1994 – 31st December 1995 | 06.2% |
| 1st January 1995 – 31st December 1995 | 03.9% |
Signed by authority of the Secretary of State for Social Security.
Oliver Heald
Parliamentary Under-Secretary of State,
Department of Social Security
22nd November 1995
Explanatory Note
(This note in not part of the Order)
This Order is made, as required by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, in the revaluation year beginning on 1st Janaury 1995. The revaluation percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.
This Order does not impose any costs on business.