Chwilio Deddfwriaeth

The Railways Pension Scheme Order 1994

 Help about what version

Pa Fersiwn

  • Y Diweddaraf sydd Ar Gael (Diwygiedig)
  • Gwreiddiol (a wnaed Fel)
 Help about opening options

Dewisiadau AgorExpand opening options

Status:

Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol). This item of legislation is currently only available in its original format.

General Provisions on Transfers

(a) Protected Person

In any case where the Railway Pensions (Protection and Designation of Schemes) Order 1994 requires the Trustee to transfer an amount higher than the amount specified above or to provide benefits following receipt of a transfer payment which are different from those specified above, the Trustee will transfer that higher amount or provide those different benefits.

(b) Share of Fund

Other than transfers under 8C 3 above, in any case where the amount of the transfer payment is calculated on a share of fund basis, the amount will be as determined by the Actuary after taking into account all relevant matters including the resources of the relevant Section.

(c) Past Service Reserve

In any case where the amount of a transfer payment based on the Member’s Past Service Reserve is greater than a transfer payment based on a share of fund, the transfer payment will be limited to the transfer amount based on a share of fund. In these circumstances benefits to be granted in the receiving scheme, arrangement or Section will be equivalent in value to the amount transferred.

(d) Reduction of Cash Equivalent

In accordance with the Transfer Value Laws the cash equivalent provided will be reduced in the event of a deficiency provided the Pensions Committee agrees.

(e) Compulsory change in employment

For the purposes of this Clause 8C “compulsory change in employment” means in relation to a Member a change in employment following a transfer, sale or disposal of shares of an Employer (including where the Employer is a Franchise Operator) where the Member can no longer continue to accrue benefits under the Section.

Yn ôl i’r brig

Options/Help

You have chosen to open The Whole Instrument

The Whole Instrument you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Instrument as a PDF

The Whole Instrument you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Schedule

The Whole Schedule you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Schedule as a PDF

The Whole Schedule you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open yr Offeryn Cyfan

Yr Offeryn Cyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

Y Rhestrau you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?