The British Transport (Male Wages Grades Pensions) (Amendment) Order 1974

EXPLANATORY NOTE

This Order amends the Rules of the British Transport Commission (Male Wages Grades) Pension Scheme by adding two new rules. The first of these new Rules (Rule 17C) makes provision for a further supplementary pension of 28p a week for persons who on the 31st March 1974 are, or who subsequently become, entitled to receive a basic pension from the Scheme. This supplementary pension will be payable from the 31st March 1974 or the date of the commencement of the basic pension, whichever is later. The other new Rule (Rule 19A) enables members whose employment in the service is terminated after they have completed 5 years of membership but before attaining minimum pensionable age to receive from the Scheme a deferred pension payable at minimum pensionable age instead of a return of contributions. In certain circumstances the pension may be payable earlier. Provision is also made by new Rule 19A for the payment of a transfer value in a case where the member enters new employment.