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Irish Statutory Instruments
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S.I. No. 49/2004 -- Occupational Pension Schemes (Revaluation) Regulations, 2004

S.I. No. 49/2004 -- Occupational Pension Schemes (Revaluation) Regulations, 2004 2004 49

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STATUTORY INSTRUMENTS.

S.I. No. 49 of 2004 .

OCCUPATIONAL PENSION SCHEMES (REVALUATION) REGULATIONS, 2004.

S.I. No. 49 of 2004 .

OCCUPATIONAL PENSION SCHEMES (REVALUATION) REGULATIONS, 2004.

The Minister for Social and Family Affairs, in exercise of the powers conferred on her by sections 5 and 33 (as amended by section 21 of the Pensions (Amendement) Act, 2002 (No. 18 of 2002)) of the Pensions Act, 1990 (No. 25 of 1990), and having consulted with the Minister for Finance, hereby makes the following Regulations--

Citation.

1. These Regulations may be cited as the Occupational Pension Schemes (Revaluation) Regulations, 2004.

Revaluation Percentage.

2. The revaluation percentage in respect of the 2003 revaluation year shall be 3.5 per cent.

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GIVEN under the Official Seal of the Minister for Social and Family Affairs, this 5th day of February, 2004.

MARY COUGHLAN,

Minister for Social and Family Affairs.

EXPLANATORY NOTE.

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

Section 33 of the Pensions Act, 1990 (as amended by section 21 of the Pensions (Amendment) Act, 2002 ) provides that the Minister for Social and Family Affairs, after consultation with the Minister for Finance, shall, in respect of each revaluation year, make Regulations specifying the percentage which shall determine the amount by which the preserved benefit is to be increased in that year.

This Regulation provides for a revaluation percentage of 3.5 per cent for 2003.

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URL: http://www.bailii.org/ie/legis/num_reg/2004/0049.html