Statutory Instrument 1988 No. 2118

The Occupational Pensions (Revaluation) Order 1988

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© Crown Copyright 1988

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1988 No. 2118

PENSIONS

The Occupational Pensions (Revaluation) Order 1988

Whereas the revaluation percentages specified in column 3 of the Schedule to the following Order ("the Schedule" ) are the percentages which appear to the Secretary of State, in the light of information available to him, to be the percentage increases in prices in Great Britain during the periods specified in column 2 of the Schedule ("the reference periods" )^[1] ;

And whereas the first period so specified is the reference period (relating to the revaluation period with the earliest commencement date set out in column 1 of the Schedule) beginning at the commencement of the reference period to which the first Order ("the first Order" )^[2] under section 52A of the Social Security Pensions Act 1975^[3] related, and ending on the latest anniversary of the end of that period, to fall before the making of the following Order^[4] ;

And whereas each reference period (relating to the revaluation period set opposite to it in column 1 of the Schedule) is the reference period beginning on the last anniversary of the commencement of the reference period to which the first Order related to fall before the commencement of the revaluation period to which it relates, and ending on the last anniversary of the end of that reference period to fall before the making of the following Order^[5] ;

Now, therefore, the Secretary of State for Social Security, in exercise of the powers conferred by section 52A(1) of the Social Security Pensions Act 1975 and of all other powers enabling him 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 1988, and shall come into force on 1st January 1989.

    (2)  In this Order—
"the Act" means the Social Security Pensions Act 1975;
"revaluation period" and "revaluation year" have the same meaning as in section 52A(2) of the Act.

Revaluation percentage
    2.    For the purposes of section 52A and 52B of, and Schedule 1A to, the Act, and in respect of the revaluation year beginning on 1st January 1988, the revaluation percentage in respect of a revaluation period set out in column 1 of the Schedule to this Order shall be the percentage set opposite that period in column 3 of that Schedule.

Signed by authority of the Secretary of State for Social Security.

Nicholas Scott

Minister of State, Department of Social Security

6th December 1988

[1] See section 52A(3) of the Social Security Pensions Act 1975 (c. 60). back

[2] S.I. 1986/2070. back

[3] 1975 c. 60; section 52A was inserted by section 2 of, and paragraph 2 of Schedule 1 to, the Social Security Act 1985 (c. 53). back

[4] See section 52A(6) of the Social Security Pensions Act 1975. back

[5] See section 52A(7) of the Social Security Pensions Act 1975. back

Explanatory Note