The Occupational Pensions (Revaluation) Order 2022

• Citation: S.I. 2022/1229
• Sections: 2

Section 1 Citation, commencement and extent

(1) This Order may be cited as the Occupational Pensions (Revaluation) Order 2022 and comes into force on 1st January 2023.

(2) This Order extends to England and Wales and Scotland.

Section 2 The higher and lower revaluation percentages for each revaluation period

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

(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