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Statutory Instruments

2019 No. 1433

Pensions

The Occupational Pensions (Revaluation) Order 2019

Made

30th October 2019

Laid before Parliament

31st October 2019

Coming into force

1st January 2020

The Secretary of State for Work and Pensions makes the following Order in exercise of the power conferred by paragraph 2(1) of Schedule 3 to the Pension Schemes Act 1993( 1 ).

Citation and commencement

1. This Order may be cited as the Occupational Pensions (Revaluation) Order 2019 and comes into force on 1st January 2020.

The higher and lower revaluation percentages for each revaluation period

2. For the purposes of paragraph 1 (the final salary method) of Schedule 3 (methods of revaluing accrued pension benefits) to the Pension Schemes Act 1993( 2 ), for each revaluation period specified in an entry in column 1 of the table belowโ€”

(a) the higher revaluation percentage is the percentage specified in the corresponding entry in column 2 of that table; and

(b) the lower revaluation percentage, if any, is the percentage specified in the corresponding entry in column 3 of that table.

Column 1

Revaluation period

Column 2

Higher revaluation percentage

Column 3

Lower revaluation percentage

1st January 1986 โ€“ 31st December 2019 181.7% -
1st January 1987 โ€“ 31st December 2019 173.2% -
1st January 1988 โ€“ 31st December 2019 162.2% -
1st January 1989 โ€“ 31st December 2019 148.1% -
1st January 1990 โ€“ 31st December 2019 130.6% -
1st January 1991 โ€“ 31st December 2019 107.9% -
1st January 1992 โ€“ 31st December 2019 99.7% -
1st January 1993 โ€“ 31st December 2019 92.8% -
1st January 1994 โ€“ 31st December 2019 89.4% -
1st January 1995 โ€“ 31st December 2019 85.3% -
1st January 1996 โ€“ 31st December 2019 78.3% -
1st January 1997 โ€“ 31st December 2019 74.7% -
1st January 1998 โ€“ 31st December 2019 68.6% -
1st January 1999 โ€“ 31st December 2019 63.4% -
1st January 2000 โ€“ 31st December 2019 61.6% -
1st January 2001 โ€“ 31st December 2019 56.4% -
1st January 2002 โ€“ 31st December 2019 53.8% -
1st January 2003 โ€“ 31st December 2019 51.2% -
1st January 2004 โ€“ 31st December 2019 47.1% -
1st January 2005 โ€“ 31st December 2019 42.7% -
1st January 2006 โ€“ 31st December 2019 39.0% -
1st January 2007 โ€“ 31st December 2019 34.1% -
1st January 2008 โ€“ 31st December 2019 29.1% -
1st January 2009 โ€“ 31st December 2019 22.9% 22.9%
1st January 2010 โ€“ 31st December 2019 24.7% 24.7%
1st January 2011 โ€“ 31st December 2019 20.9% 20.9%
1st January 2012 โ€“ 31st December 2019 15.0% 15.0%
1st January 2013 โ€“ 31st December 2019 12.5% 12.5%
1st January 2014 โ€“ 31st December 2019 9.5% 9.5%
1st January 2015 โ€“ 31st December 2019 8.2% 8.2%
1st January 2016 โ€“ 31st December 2019 8.3% 8.3%
1st January 2017 โ€“ 31st December 2019 7.3% 7.3%

1st January 2018 โ€“ 31st December 2019

1st January 2019 โ€“ 31st December 2019

4.1%

1.7%

4.1%

1.7%

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

Guy Opperman

Parliamentary Under-Secretary of State

Department for Work and Pensions

30th October 2019

( 1 )

1993 c. 48 ; paragraph 2(1) of Schedule 3 was amended by section 101 of, and paragraphs 1 and 3 of Schedule 2 to, the Pensions Act 2008 (c. 30) .

( 2 )

Paragraph 1 of Schedule 3 was amended by section 101 of, and paragraphs 1 and 2 of Schedule 2 to, the Pensions Act 2008; section 19 of the Pensions Act 2011 (c. 19) ; section 11 of, and paragraph 26 of Schedule 4 to, the Marriage (Same Sex Couples) Act 2013 (c. 30) ; article 29 of, and paragraph 11(9) of Schedule 5 to, S.I. 2014/3229 .

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 2019 (2019/1433)

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