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The Postal Services Act 2011 (Transfer of Accrued Pension Rights) Order 2012
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New POL Scheme
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5.—(1) If a “New POL Scheme” as defined in Clause 28B (Transfer of the POL Fund out of the Scheme at the request of the Principal Employer or POL) of the RMPP Commencement Date Rules is established (the New POL Scheme), these Rules shall apply to a Cut-Off Date Active as provided for in the remainder of this Clause where all or part of the benefits to which the Cut-Off Date Active is entitled under the RMPP are transferred to the New POL Scheme pursuant to that clause.
(2) The Secretary of State will apply these Rules with any modifications or adjustments as he may consider to be reasonably necessary in order to ensure that a Cut-Off Date Active’s benefits under the RMSPS (including without limitation the amount of such benefits, the circumstances under which they are paid and the treatment of elections or actions taken by the Cut-Off Date Active or any other person) are the same as they would have been had the Cut-Off Date Active’s RMPP benefits remained in the RMPP rather than transferring to the New POL Scheme.
(3) Without limitation to sub-paragraph (2) above—
(a)all references in these Rules to benefits payable, events taking place, directions, elections, nominations and requests made and actions taken under or in relation to the RMPP or any of its Employers shall where appropriate be deemed to refer to benefits payable, events taking place, elections made and actions taken under or in relation to the New POL Scheme;
(b)the definition of “Employer” in Clause 1 (Purpose, definitions and interpretation) shall where appropriate mean an “Employer” for the purposes of the rules of the New POL Scheme;
(c)the definition of “RMPP Rules” in Clause 1 (Purpose, definitions and interpretation) shall where appropriate refer to the trust deed and rules of the New POL Scheme;
(d)the references to an Employer in Clause 16 (Set-off for crime, fraud or negligence) and in Clause 19(2)(a) (Surrender and Forfeiture Laws) shall where appropriate refer to an employer participating in the New POL Scheme; and
(e)the references to the RMPP in Clause 16 (Set-off for crime, fraud or negligence) and in Clause 19(2)(b) (Surrender and Forfeiture Laws) shall where appropriate refer to the New POL Scheme.
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