(1) Subject to the provisions of this Act, a pension payable to any person under an enactment specified in Schedule 1 shall after 31 December 1969, be increased by the pension authority by an amount equal to a percentage of the annual rate of the pension in accordance with the provisions of Schedule 2.
(2) The said percentage shall be in the case of a pension which began after a period specified in the first column of Schedule 2 be that specified in relation thereto to the second column of Schedule 2.