The Arrangements of the Scheme are the Shared Cost Arrangement, the Defined Benefit Arrangement and the Defined Contribution Arrangement.
15J Instead of providing benefits under the Section in respect of a Member the Trustee may use the Member’s Accumulated Fund to buy a Buy–out Policy in the Member’s name. The Trustee must buy the policy from the UK office or branch of an insurance company. The policy must satisfy the requirements of Rule 10B (Requirements for Buy–out Policies).