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The British Transport Docks Board (Alteration of Pension Schemes) Order 1968
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Alterations in the terms of certain schemes for providing pensions
4.—(1) This Article shall apply to the pension schemes listed in the Schedule to this Order.
(2) A person who becomes a member of the New Fund on or after the 2nd September 1968 shall be ineligible for admission to a pension scheme to which this Article applies.
(3) Where a member of a pension scheme to which this Article applies becomes a member of the New Fund on or after the 2nd September 1968 the following provisions shall have effect:–
(a)upon the date of his admission to membership of the New Fund he shall cease to be a member of that pension scheme and (except as hereinafter provided) his liability if any to pay contributions to and his right to receive benefit from that scheme shall cease; and
(b)as soon as may be after that date the persons administering that pension scheme shall pay to the New fund an appropriate transfer value in respect of the accrued pension rights of that member in that scheme.
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