Statutory Instrument 1998 No. 2921

The Occupational Pensions (Revaluation) Order 1998

(The document as of February, 2008)

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STATUTORY INSTRUMENTS

1998 No. 2921

PENSIONS

The Occupational Pensions (Revaluation) Order 1998

	Made	25th November 1998
	Laid before Parliament	2nd December 1998
	Coming into force	1st January 1999

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 1998.

    (2) This Order shall come into force on 1st January 1999.

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 percentage specified in column 2 in relation to that period.

Column 1	Column 2
Revaluation period	Revaluation percentage
1st January 1986-31st December 1998	72.4%
1st January 1987-31st December 1998	67.3%
1st January 1988-31st December 1998	60.5%
1st January 1989-31st December 1998	51.9%
1st January 1990-31st December 1998	41.1%
1st January 1991-31st December 1998	27.3%
1st January 1992-31st December 1998	22.2%
1st January 1993-31st December 1998	18.0%
1st January 1994-31st December 1998	15.9%
1st January 1995-31st December 1998	13.4%
1st January 1996-31st December 1998	9.2%
1st January 1997-31st December 1998	6.9%
1st January 1998-31st December 1998	3.2%

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


John Y. Denham
Minister of State, Department of Social Security

25th November 1998

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EXPLANATORY NOTE

(This note is not part of the Order)

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 1998. 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.

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Notes:

[1] 1993 c. 48.back

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ISBN 0 11 079871 6

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