SCHEDULE 3 Methods of Revaluing Accrued Pension Benefits
Pension Schemes Act 1993 (1993 c 48) | Legislation

SCHEDULE 3 Methods of Revaluing Accrued Pension Benefits

Sections 84, 102(3)

The final salary method

1

[(1)     The final salary method is to add to the amount that would be payable but for Chapter 2 of Part 4, or regulations made under it, the additional amount specified in sub-paragraph (1A), (1B), (1C) or (1D) (whichever applies).

(1A)     Where—

(a)     the termination of pensionable service occurs before 1st January 1991, and

(b)     the whole of the member's pensionable service falls on or after 1st January 1985,

the additional amount is the appropriate higher revaluation percentage of the accrued benefit.

(1B)     Where—

(a)     the termination of pensionable service occurs before 1st January 1991, and

(b)     some of the member's pensionable service falls before 1st January 1985,

the additional amount is such proportion of the appropriate higher revaluation percentage of the accrued benefit as the member's pensionable service falling on or after 1st January 1985 bears to the member's total pensionable service.

(1C)     Where the termination of pensionable service occurs—

(a)     on or after 1st January 1991, but

(b)     before the day on which section 101 of the Pensions Act 2008 comes into force (“the 2008 Act commencement dayâ€),

the

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