PART VIOCCUPATIONAL AND PERSONAL PENSION SCHEMES: MISCELLANEOUS PROVISIONS
Revaluation
Exemption from statutory revaluation requirement258
1
Section 80 of the Pension Schemes Act (basis of revaluation) is amended as follows.
2
In subsection (5), after paragraph (a) insert
or
b
under any arrangement which maintains the value of the pension or other benefit by reference to the rise in the retail prices index during that period,
3
After that subsection add—
6
In subsection (5)(b), “retail prices index” means—
a
the general index of retail prices (for all items) published by the Office for National Statistics; or
b
where that index is not published for a month, any substituted index or figures published by that Office.