The Railways Pension Scheme Order 1994

Rule 4D

SCHEDULE 9 TO THE RULES OF THE SHARED COST ARRANGEMENT ADDITIONAL CONTRIBUTIONS FOR ANTEDATING MEMBERSHIP

On joining the Section a Member who is a Protected Person may, subject to the consent of the Trustee and the Participating Employer, antedate his membership so that it is deemed to commence from the date he became an Employee or his 40th birthday, whichever is the later. A Member who is a BR Member had the same option on joining the BR Pension Scheme.

Any period of additional membership granted under rule 6(2) of the BR Pension Scheme shall be taken into account in determining the date to which membership may be antedated.

A Member who chooses or a BR Member who chose to antedate his membership must (at his option) either:

(a) make a single contribution payable immediately and equal to:

(i) the annual rate of contribution the Member is required to pay under Rule 3B (Normal Contributions by Members) (or, in respect of a BR Member, was required to pay under rule 11(2) of the BR Rules at the date of joining the BR Pension Scheme) immediately after being granted antedated membership;

multiplied by

(ii) the number of years of additional Pensionable Service referable to his antedated membership; or

(b) make additional contributions from the date of grant until Minimum Pension Age (applicable at the date of grant) at the sa me times as contributions under Rule 3B (Normal Contributions by Members) equal to:

(i) the Member’s contributions under Rule 3B (Normal Contributions by Members) (or under Rule 11(2) of the BR Rules, if applicable);

multiplied by

(ii) the number of years of additional Pensionable Service referable to his antedated membership;

and divided by

(iii) the number of years between the date of grant and Minimum Pension Age.

The contributions mentioned in (b) above in respect of a BR Member’s period of antedated membership shall be calculated as if 5% and 2.5% in rule 11(2) of the BR Rules were replaced by “10%” and “5%”, respectively.

No Member shall be permitted to antedate membership to such an extent that the annual rate of aggregate contributions on the date of grant would exceed 15% of Pensionable Pay on the same date. This restriction shall apply to a Member who has chosen option (a) above as if option (b) had been chosen.

If a Member who has chosen option (b) leaves Service before Minimum Pension Age (applicable at the date of grant) and Rule 5D (Early Retirement through Incapacity) and Rule 7 (Death in Service on or before Age 65) do not apply, his additional Pensionable Service referable to the period of antedated membership shall be reduced to:

(i) any additional Pensionable Service granted in respect of antedated membership but for this Schedule;

multiplied by

(ii) the number of years during which additional contributions have been paid under this Schedule and Rule 4D (Additional Contributions by BR Members and Members who are Protected Persons for Antedating Membership) (ignoring any contributions which have been refunded);

and divided by

(iii) the number of years between the date of grant and Minimum Pension Age (applicable at the date of grant).

With the consent of the Participating Employer, the Trustee may permit a Member to whom the above paragraph applies to have the reduction wholly or partially waived on the payment by the Member of a lump sum determined by the Trustee on the advice of the Actuary.

With the consent of the Participating Employer, the Trustee may permit a BR Member currently paying additional contributions until age 62 to revise his contributions so that they cease at age 60. The revised rate of contributions shall be determined by the Trustee on the advice of the Actuary.