- Latest available (Revised)
- Original (As made)
The Railways Pension Scheme Order 1994
You are here:
What Version
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Purchase of Pensions
15A A pension under the Section shall be secured by buying an annuity contract from the UK office or branch of an Insurance Company. The Trustee shall buy the annuity contract in the name of the Member (or other beneficiary) and pensions shall be payable in accordance with the terms of that contract.
The Trustee may delay buying the annuity contract for up to 5 years after the Benefit Date and pay pension (calculated in accordance with actuarial advice) out of the Member’s Accumulated Fund in the meantime. In this event pensions shall be payable every 4 weeks in arrears. A proportionate payment shall be made for any period of less than 4 weeks. Pension shall be paid for the 4 week period in which a pensioner dies.
In the event that any payment is paid late the Trustee may increase it to take account of late payment.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThe Whole Schedule
PrintThe Whole Part
PrintThis Section only
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 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 Schedules only
The Schedules 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?
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.