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Statutory Instruments

2002 No. 2951

PENSIONS

The Occupational Pensions (Revaluation) Order 2002

Made

28th November 2002

Laid before Parliament

5th December 2002

Coming into force

1st January 2003

The Secretary of State for Work and Pensions, in exercise of the powers conferred upon him 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 2002.

(2) This Order shall come into force on 1st January 2003.

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 2002 86.3%
1st January 1987–31st December 2002 80.7%
1st January 1988–31st December 2002 73.4%
1st January 1989–31st December 2002 64.0%
1st January 1990–31st December 2002 52.4%
1st January 1991–31st December 2002 37.5%
1st January 1992–31st December 2002 32.0%
1st January 1993–31st December 2002 27.5%
1st January 1994–31st December 2002 25.2%
1st January 1995–31st December 2002 22.5%
1st January 1996–31st December 2002 17.9%
1st January 1997–31st December 2002 15.5%
1st January 1998–31st December 2002 11.5%
1st January 1999–31st December 2002 8.0%
1st January 2000–31st December 2002 6.8%
1st January 2001–31st December 2002 3.4%
1st January 2002–31st December 2002 1.7%

Signed by authority of the Secretary of State for Work and Pensions.

Ian McCartney

Minister of State,

Department for Work and Pensions

28th November 2002

( 1 )

1993 c. 48 .

Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
The Occupational Pensions (Revaluation) Order 2002 (2002/2951)

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