(1) The Minister shall cause the consumer price index to be examined as follows to establish whether or not there has been any increase in that index.

(2) In respect of referable amounts -

(a) the first examination under subsection (1) shall be undertaken to establish if there has been any increase in the consumer price index between the index figure current at the operative date and index figure current in respect of the end of the calendar year in which the operative date occurred, and

(b) subsequent examinations under subsection (1) shall be undertaken to establish if there has been any increase in the consumer price index since the immediately preceding increase in a calendar year for that index,

and the referable amounts accrued under the Scheme shall be increased to reflect any such increase.

(3) In respect of pensions payable under the Scheme -