Statutory Instrument 1996 No. 2926

The Occupational Pensions (Revaluation) Order 1996

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© Crown Copyright 1996

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1996 No. 2926

PENSIONS

The Occupational Pensions (Revaluation) Order 1996

The Secretary of State for Social Security, in exercise of the powers conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993^[1], hereby makes the following Order:

Citation and commencement
    1.—(1)  This Order may be cited as the Occupational Pensions (Revaluation) Order 1996.

    (2)  This Order shall come into force on 1st January 1997.

The revaluation percentage for each revaluation period
    2.    For the purposes of paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, the revaluation percentage for each revaluation period specified in column 1 below is the appropriate percentage specified in column 2.

Column 1	Column 2
Revaluation Period	Revaluation Percentage
January 1986 — 31st December 1996	61.3%
1st January 1987 — 31st December 1996	56.4%
1st January 1988 — 31st December 1996	50.1%
1st January 1989 — 31st December 1996	42.0%
1st January 1990 — 31st December 1996	32.0%
1st January 1991 — 31st December 1996	19.0%
1st January 1992 — 31st December 1996	14.3%
1st January 1993 — 31st December 1996	10.4%
1st January 1994 — 31st December 1996	08.4%
1st January 1995 — 31st December 1996	06.1%
1st January 1996 — 31st December 1996	02.1%

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

Oliver Heald

Parliamentary Under-Secretary of State, Department of Social Security

21st November 1996

This Order is made, as required by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993, in the revaluation year beginning on 1st January 1996. The revaluation percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 84 of, and Schedule 3 to, that Act.

This Order does not impose any costs on business.

[1] 1993 c. 48. back