
1 

(1)  This Order may be cited as the Occupational Pensions (Revaluation) Order 2023 and comes into force on 1st January 2024.
(2) This Order extends to England and Wales and Scotland.
2 
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—
(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 Column 2 Column 3
Revaluation period Higher revaluation percentage Lower revaluation percentage
1st January 1986 - 31st December 2023 242.9% -
1st January 1987 - 31st December 2023 232.6% -
1st January 1988 - 31st December 2023 219.2% -
1st January 1989 - 31st December 2023 202.0% -
1st January 1990 - 31st December 2023 180.7% -
1st January 1991 - 31st December 2023 153.1% -
1st January 1992 - 31st December 2023 143.1% -
1st January 1993 - 31st December 2023 134.7% -
1st January 1994 - 31st December 2023 130.5% -
1st January 1995 - 31st December 2023 125.5% -
1st January 1996 - 31st December 2023 117.1% -
1st January 1997 - 31st December 2023 112.6% -
1st January 1998 - 31st December 2023 105.2% -
1st January 1999 - 31st December 2023 98.9% -
1st January 2000 - 31st December 2023 96.7% -
1st January 2001 - 31st December 2023 90.4% -
1st January 2002 - 31st December 2023 87.2% -
1st January 2003 - 31st December 2023 84.1% -
1st January 2004 - 31st December 2023 79.1% -
1st January 2005 - 31st December 2023 73.7% -
1st January 2006 - 31st December 2023 69.1% -
1st January 2007 - 31st December 2023 63.3% -
1st January 2008 - 31st December 2023 57.1% -
1st January 2009 - 31st December 2023 49.6% 44.8%
1st January 2010 - 31st December 2023 51.8% 41.3%
1st January 2011 - 31st December 2023 47.2% 37.9%
1st January 2012 - 31st December 2023 39.9% 34.5%
1st January 2013 - 31st December 2023 36.9% 31.2%
1st January 2014 - 31st December 2023 33.3% 28.0%
1st January 2015 - 31st December 2023 31.7% 24.9%
1st January 2016 - 31st December 2023 31.9% 21.8%
1st January 2017 - 31st December 2023 30.6% 18.9%
1st January 2018 - 31st December 2023 26.8% 16.0%
1st January 2019 - 31st December 2023 23.8% 13.1%
1st January 2020 - 31st December 2023 21.6% 10.4%
1st January 2021 - 31st December 2023 15.8% 7.7%
1st January 2022 - 31st December 2023 10.3% 5.1%
1st January 2023 - 31st December 2023 5.0% 2.5%
Signed by authority of the Secretary of State for Work and Pensions
Paul Maynard
Parliamentary Under Secretary of State
Department for Work and Pensions
23rd November 2023