84 Basis of revaluation
Pension Schemes Act 1993 (1993 c 48) | Legislation

84  Basis of revaluation

(1)     [Subject to subsections (2) to (3B)], in the case of such benefits as are mentioned in section 83(1)(a), any pension or other retirement benefit payable under the scheme in question to the member and any pension or other benefit payable under it to any other person in respect of him, is to be revalued by the final salary method.

(2)     If—

(a)     any such benefit is an average salary benefit or flat rate benefit; and

(b)     it appears to the trustees or managers of the scheme under which it is payable that it is appropriate to revalue the benefit by the average salary method or, as the case may be, the flat rate method,

then the benefit shall be revalued using that method.

(3)     If any benefit such as is mentioned in paragraph (a) of section 83(1) is a money purchase benefit [other than a collective money purchase benefit], and in the case of such benefit as is mentioned in paragraph (b) of that section, the benefit shall be revalued using the money purchase

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