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The Occupational Pensions (Revaluation) Order (Northern Ireland) 1999

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Statutory Rules of Northern Ireland

1999 No. 469

PENSIONS

The Occupational Pensions (Revaluation) Order (Northern Ireland) 1999

Made

25th November 1999

Coming into operation

1st January 2000

Whereas the Secretary of State for Social Security has made an Order(1) under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993(2):

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 1993(3) and of all other powers enabling it in that behalf, hereby makes the following Order:

Citation, commencement and interpretation

1.—(1) This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 1999 and shall come into operation on 1st January 2000.

(2) The Interpretation Act (Northern Ireland) 1954(4) shall apply to this Order as it applies to a Measure of the Assembly.

Revaluation percentage for each revaluation period

2.  For the purposes of paragraph 2(1) 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 percentage specified opposite thereto in column 2.

Sealed with the Official Seal of the Department of Health and Social Services for Northern Ireland on 25th November 1999.

L.S.

John O'Neill

Assistant Secretary

Article 2

SCHEDULE

Column (1)Column (2)
Revaluation PeriodRevaluation Percentage
1st January 1986 — 31st December 199974·3%
1st January 1987 — 31st December 199969·1%
1st January 1988 — 31st December 199962·3%
1st January 1989 — 31st December 199953·5%
1st January 1990 — 31st December 199942·7%
1st January 1991 — 31st December 199928·7%
1st January 1992 — 31st December 199923·6%
1st January 1993 — 31st December 199919·3%
1st January 1994 — 31st December 199917·2%
1st January 1995 — 31st December 199914·7%
1st January 1996 — 31st December 199910·4%
1st January 1997 — 31st December 19998·1%
1st January 1998 — 31st December 19994·3%
1st January 1999 — 31st December 19991·1%
(all dates inclusive)

Explanatory Note

(This note is not part of the Order.)

This Order, which corresponds to an Order (S.I. 1999/3159) made by the Secretary of State for Social Security under paragraph 2(1) 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.

(1)

S.I. 1999/3159

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