http://www.legislation.gov.uk/uksi/1994/1433/schedule/appendix/2/paragraph/15C/madeThe Railways Pension Scheme Order 1994Occupational pensionsPensionsKing's Printer of Acts of Parliament2016-08-02TRANSPORTThis Order provides for the establishment of the Railways Pension Scheme (“the Scheme”) and for the designation of that scheme as the “joint industry scheme” for the purposes of Schedule 11 to the Railways Act 1993 (Articles 2 and 3).THE SCHEDULEPENSION TRUST OF THE RAILWAYS PENSION SCHEMEAppendix 2THE ARRANGEMENTS AND RULES GOVERNING THE ARRANGEMENTSThe Arrangements of the Scheme are the Shared Cost Arrangement, the Defined Benefit Arrangement and the Defined Contribution Arrangement.PART 3RULES OF THE DEFINED CONTRIBUTION ARRANGEMENT15CDuration of Member’s Pension

A Member’s pension shall be payable for life and may if the Trustee decides (taking into account any wishes made known to them by the Member) be guaranteed for a minimum period of up to 10 years.

If it is guaranteed for more than 5 years, no survivor’s pension may start until the end of the guarantee period. If it is guaranteed for 5 years or less, and the Member dies before the end of the guarantee period, either the pension may be continued for the guarantee period or a lump sum may be paid on the Member’s death equal to the pension payments which would have been made during the remainder of the guarantee period. Any lump sum shall be paid as described in Rule 7B (Member dies within 5 years after Pension starts).

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<strong>THE SCHEDULE</strong>
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<strong>PENSION TRUST OF THE RAILWAYS PENSION SCHEME</strong>
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<strong>Appendix 2</strong>
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<strong>THE ARRANGEMENTS AND RULES GOVERNING THE ARRANGEMENTS</strong>
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<subheading>The Arrangements of the Scheme are the Shared Cost Arrangement, the Defined Benefit Arrangement and the Defined Contribution Arrangement.</subheading>
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<heading>Duration of Member’s Pension</heading>
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<p>A Member’s pension shall be payable for life and may if the Trustee decides (taking into account any wishes made known to them by the Member) be guaranteed for a minimum period of up to 10 years.</p>
<p>If it is guaranteed for more than 5 years, no survivor’s pension may start until the end of the guarantee period. If it is guaranteed for 5 years or less, and the Member dies before the end of the guarantee period, either the pension may be continued for the guarantee period or a lump sum may be paid on the Member’s death equal to the pension payments which would have been made during the remainder of the guarantee period. Any lump sum shall be paid as described in Rule 7B (Member dies within 5 years after Pension starts).</p>
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