The Occupational Pensions (Revaluation) Order 1988

Made: 6th December 1988

Laid before Parliament: 9th December 1988

Coming into force: 1st January 1989

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:

Citation, commencement and interpretation

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.

Revaluation percentage

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.

SCHEDULE

Signed

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

Nicholas Scott — Minister of State, — Department of Social Security — 6th December 1988

Explanatory note

(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).

Footnotes

[^f00001]: See section 52A(3) of the Social Security Pensions Act 1975 (c. 60).

[^f00002]: S.I. 1986/2070.

[^f00003]: 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).

[^f00004]: See section 52A(6) of the Social Security Pensions Act 1975.

[^f00005]: See section 52A(7) of the Social Security Pensions Act 1975.