The National Freight Corporation (Alteration of Pension Schemes) (No.1) Order 1971

EXPLANATORY NOTE

This Order relates to the newly established National Freight Corporation (Wages Grades) Pension Fund, to the British Transport Commission (Male Wages Grades) Pension Scheme and to certain other pension schemes mentioned in the Order. It provides (Article 3) for the application of the inter-availability arrangements for pensions in the publicly owned transport industry to the newly established Wages Grades Pension Fund. It also regulates (Articles 4–7)) the position of members of the British Transport Commission (Male Wages Grades) Pension Scheme or of the other pension schemes referred to above, who become members of the newly established Fund, so as to avoid duplication of membership. Provision is made (Articles 8–10) for the payment of transfer values, for certain consequential matters and for the determination of questions. Article 11 safeguards existing rights.