2009 No. 408

Pensions

The Occupational Pensions (Revaluation) Order (Northern Ireland) 2009

Made

Coming into operation

This Order is made in exercise of the powers conferred by paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 19931 and now vested in the Department for Social Development2.

The Secretary of State for Work and Pensions has made an Order3 under paragraph 2(1) of Schedule 3 to the Pension Schemes Act 19934.

Accordingly the Department for Social Development makes the following Order:

Citation, commencement and interpretation1

1

This Order may be cited as the Occupational Pensions (Revaluation) Order (Northern Ireland) 2009 and shall come into operation on 1st January 2010.

2

The Interpretation Act (Northern Ireland) 19545 shall apply to this Order as it applies to an Act of the Assembly.

The higher and lower revaluation percentages for each revaluation period2

For the purposes of paragraph 2(1) of Schedule 2 to the Pension Schemes (Northern Ireland) Act 1993, for each revaluation period specified in column 1 of the Schedule, the higher revaluation percentage is the percentage specified in column 2, and the lower revaluation percentage is the percentage specified in column 3, in relation to that period.

Sealed with the Official Seal of the Department for Social Development on 11th December 2009

(L.S.)Anne McClearyA senior officer of the Department for Social Development

SCHEDULE

Article 2

Column 1

Column 2

Column 3

Revaluation period

Higher revaluation percentage

Lower revaluation percentage

1st January 1986 – 31st December 2009

125∙9%

–

1st January 1987 – 31st December 2009

119∙1%

–

1st January 1988 – 31st December 2009

110∙3%

–

1st January 1989 – 31st December 2009

99∙0%

–

1st January 1990 – 31st December 2009

84∙9%

–

1st January 1991 – 31st December 2009

66∙7%

–

1st January 1992 – 31st December 2009

60∙2%

–

1st January 1993 – 31st December 2009

54∙6%

–

1st January 1994 – 31st December 2009

51∙9%

–

1st January 1995 – 31st December 2009

48∙6%

–

1st January 1996 – 31st December 2009

43∙0%

–

1st January 1997 – 31st December 2009

40∙1%

–

1st January 1998 – 31st December 2009

35∙2%

–

1st January 1999 – 31st December 2009

31∙0%

–

1st January 2000 – 31st December 2009

29∙6%

–

1st January 2001 – 31st December 2009

25∙5%

–

1st January 2002 – 31st December 2009

23∙4%

–

1st January 2003 – 31st December 2009

21∙3%

–

1st January 2004 – 31st December 2009

18∙0%

–

1st January 2005 – 31st December 2009

14∙4%

–

1st January 2006 – 31st December 2009

11∙4%

–

1st January 2007 – 31st December 2009

7∙6%

–

1st January 2008 – 31st December 2009

3∙5%

–

1st January 2009 – 31st December 2009

0∙0%

0∙0%

(all dates inclusive)

EXPLANATORY NOTE

(This note is not part of the Order)

This Order, which corresponds to an Order (S.I. 2009/3267) made by the Secretary of State for Work and Pensions 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. The lower revaluation percentage introduced by the Pensions (No. 2) Act (Northern Ireland) 2008 (c. 13 (N.I.)) does not apply to pensionable service before 6th April 2009.