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Statutory Instruments
1993 No. 2904
PENSIONS
The Occupational Pensions (Revaluation) Order 1993
Made
25th November 1993
Laid before Parliament
2nd December 1993
Coming into force
1st January 1994
The Secretary of State for Social Security, in exercise of the powers conferred by section 52A(1) of the Social Security Pensions Act 1975(1), hereby makes the following Order:
Citation and commencement
1.-(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 1993.
(2) This Order shall come into force on 1st January 1994.
The revaluation percentage for each revaluation period
2. For the purposes of section 52A of the Social Security Pensions Act 1975, the revaluation percentage for each revaluation period specified in column 1 below is the appropriate percentage specified in column 2.
| Column 1 | Column 2 |
|---|---|
| Revaluation Period | Revaluation Percentage |
| 1st January 1986-31st December 1993 | 47.8% |
| 1st January 1987-31st December 1993 | 40.7% |
| 1st January 1988-31st December 1993 | 34.0% |
| 1st January 1989-31st December 1993 | 27.6% |
| 1st January 1990-31st December 1993 | 21.6% |
| 1st January 1991-31st December 1993 | 9.8% |
| 1st January 1992-31st December 1993 | 5.5% |
| 1st January 1993-31st December 1993 | 1.8% |
Signed by authority of the Secretary of State for Social Security.
William Hague
Parliamentary Under-Secretary of State,
Department of Social Security
25th November 1993
Explanatory Note
(This note is not part of the Order)
This Order is made, as required by section 52A of the Social Security Pensions Act 1975, in the revaluation year beginning on 1st January 1993. The revaluation percentages specified are relevant to the revaluation of benefits under occupational pension schemes, as required by section 52B of, and Schedule 1A to, that Act.
This Order does not impose any costs on business.
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). Paragraph 13 of Schedule 6 to the Social Security Act 1989 (c. 24) amended subsection (3) of section 52A and, for subsection (8), substituted new subsections (8) and (9).