1995 No. 435
PENSIONS

Occupational Pensions (Revaluation) Order (Northern Ireland) 1995

Made
Coming into operation
Whereas the Secretary of State for Social Security has made an Order1 under paragraph 2(l) of Schedule 3 to the Pension Schemes Act 19932:
Now, therefore, the Department of Health and Social Services for Northern Ireland, in exercise of the powers conferred on it by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 19933 and of all other powers enabling it in that behalf, hereby makes the following Order:

Citation, commencement and interpretation1.

(1)

This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 1995 and shall come into operation on 1st January 1996.

(2)

The Interpretation Act (Northern Ireland) 19544 shall apply to this Order as it applies to a Measure of the Assembly.

Revaluation percentage for each revaluation period2.

For the purposes of paragraph 2(l) 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 appropriate percentage specified in column 2 of that Schedule.

Sealed with the Official Seal of the Department of Health and Social Services for Northern Ireland on

W. G. Purdy
Assistant Secretary

SCHEDULE

Article 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

8.1%

1st January 1994-31st December 1995

6.2%

1st January 1995-31st December 1995

3.9%

(all dates inclusive)

(This note is not part of the Order.)

This Order, which corresponds to an Order (S.I. 1995/3021) made by the Secretary of State for Social Security under paragraph 2(l) of Schedule 3 to the Pension Schemes Act 1993, 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.