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United Kingdom Statutory Instruments |
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You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Occupational Pensions (Revaluation) Order 1988 No. 2118 URL: http://www.bailii.org/uk/legis/num_reg/1988/uksi_19882118_en.html |
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Statutory Instruments
PENSIONS
Made
6th December 1988
Laid before Parliament
9th December 1988
Coming into force
1st January 1989
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:
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.
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
Article 2
| Column 1 | ||
|---|---|---|
| Revaluation Period | ||
| Column 2 | ||
| Reference Period | ||
| Column 3 | ||
| Revaluation Percentage | ||
| 1st January 1986-31st December 1988 | 1st October 1985-30th September 1988 | 13.6% |
| 1st January 1987-31st December 1988 | 1st October 1986-30th September 1988 | 10.2% |
| 1st January 1988-31st December 1988 | 1st October 1987-30th September 1988 | 5.7% |
| (all dates inclusive) | (all dates inclusive) |
(This note is not part of the Order)
Section 52A of the Social Security Pensions Act 1975 (inserted by section 2 of, and Schedule 1 to, the Social Security Act 1985) defines the terms "revaluation period" and "revaluation year" and requires the Secretary of State to specify by Order, in each revaluation year, a "revaluation percentage" for each revaluation period.
This Order, made in the third revaluation year (1st January 1988 to 31st December 1988), specifies the appropriate revaluation percentage of each of the revaluation periods set out in the Schedule to it. The percentages are relevant to the revaluation of occupational pensions which is required by Schedule 1A to the Act of 1975 (inserted by section 2 of, and Schedule 1 to, the Act of 1985).
See section 52A(3) of the Social Security Pensions Act 1975 (c. 60).
S.I. 1986/2070.
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).
See section 52A(6) of the Social Security Pensions Act 1975.
See section 52A(7) of the Social Security Pensions Act 1975.
