The Postal Services Act 2011 (Transfer of Accrued Pension Rights) Order 2012

1.—(1) In this Schedule—

“Actuarial Equivalence Requirements” has the meaning given in paragraph 9;

“Actuarial Equivalence Statement” has the meaning given in paragraph 13;

“Actuarial Equivalence Statement Requirement” has the meaning given in paragraph 12;

“Actuarial Value Requirement” has the meaning given in paragraph 11;

“Actuary” has the meaning given in the RMSPS Rules;

“Affected Member” is a person who is, at the time a Regulated Modification or RMPP Restricted Modification takes effect, a member of the RMSPS, a survivor of a member of the RMSPS or a survivor of a member of the RMPP who died on or before the Cut-Off Date with benefits under the RMSPS, and—

(a)

the Regulated Modification is a Protected Modification and, on taking effect, the Protected Modification would or might affect any of that person’s RMSPS Subsisting Rights as mentioned in paragraph (a) or (b) of the definition of “Protected Modification”;

(b)

the Regulated Modification is a Detrimental Modification that is not a Protected Modification and, on taking effect, the Detrimental Modification would or might adversely affect any of that person’s RMSPS Subsisting Rights; or

(c)

the RMPP Restricted Modification would, on taking effect, affect the person or the person’s benefits as mentioned in paragraph (b), (c) or (d) of the definition of “RMPP Restricted Modification”;

“Consent Requirements” means the requirements consisting of—

(a)

the Informed Consent Requirement; and

(b)

the Timing Requirement;

“Cut-Off Date” means 31 March 2012;

“Cut-Off Date Active” has the meaning given in the RMSPS Rules;

“Cut-Off Date Non-Active” has the meaning given in the RMSPS Rules;

“Detrimental Modification” means an amendment or modification to the RMSPS which on taking effect would or might adversely affect any RMSPS Subsisting Rights;

“Equivalent Correction” has the meaning given in sub-paragraph (3) below;

“Equivalent Scheme” means an occupational pension scheme, where the power to modify that scheme is subject to the “subsisting rights provisions” within the meaning of section 67 of the Pensions Act 1995(1);

“Information Requirement” has the meaning given in paragraph 10;

“Informed Consent Requirement” has the meaning given in paragraph 6;

“Protected Modification” means an amendment or modification to the RMSPS which—

(a)

on taking effect would or might result in any RMSPS Subsisting Right of a member of the RMSPS or a survivor of a member of the RMSPS or the RMPP which is not a right or entitlement to money purchase benefits becoming, or being replaced with, a right or entitlement to money purchase benefits under the Relevant RMSPS Rules (and for these purposes, the reference in the definition of “money purchase benefits” in section 181(1) of the Pension Schemes Act 1993(2) to the widow or widower of a member of an occupational pension scheme is to be read as including any other survivor of the member);

(b)

would or might result in a reduction in the prevailing rate of any pension in payment under the Relevant RMSPS Rules; or

(c)

if the RMSPS were an Equivalent Scheme would be a “protected modification” for the purposes of the “subsisting rights provisions” referred to in section 67 of the Pensions Act 1995 by reason of an order made under section 67A(3)(c) of that Act;

“Regulated Modification” means an amendment or modification to the RMSPS which is—

(a)

a Protected Modification; or

(b)

a Detrimental Modification;

or is both;

“relevant legislative provision” means any of the provisions referred to in section 67A(9) of the Pensions Act 1995, if and to the extent that the provision applies to the RMSPS under Schedule 4;

“Relevant RMSPS Rules” means—

(a)

the RMSPS Rules, except so far as overridden by a relevant legislative provision;

(b)

the relevant legislative provisions, to the extent that they have effect in relation to the RMSPS and are not reflected in the RMSPS Rules; and

(c)

any provision which the RMSPS Rules do not contain but which the RMSPS must contain if it is to conform with the requirements of Chapter 1 of Part 4 of the Pension Schemes Act 1993 (preservation of benefit under occupational pension schemes);

“Reporting Requirement” has the meaning given in paragraph 19;

“RMPP Cut-Off Date Rules” has the meaning given in the RMSPS Rules;

“RMPP Restricted Modification” means an amendment or modification which—

(a)

would alter the primary purpose of the RMSPS;

(b)

would reduce the benefits of any person who is at the date of the amendment or modification already entitled to the receipt of a pension or annuity under the RMSPS;

(c)

would, in respect of a person in what was immediately prior to 28 August 1987 category (a) in rule 1 of the non-contributory part of the RMPP (as set out in the third supplemental deed to the RMPP dated 19 November 1971), depart from the Civil Service Scheme for the time being in force as prescribed by rule 2 of the non-contributory section rules of the RMPP Cut-Off Date Rules;

(d)

would, in respect of a person in what was immediately prior to 28 August 1987 category (a) in general rule 1 of the RMPP as set out in the third supplemental deed to the RMPP dated 19 November 1971 who was subject to the section A rules of the RMPP Cut-Off Date Rules, deprive that person of the following—

(i)

if the person is a Cut-Off Date Non-Active, any of the benefits referred to in rule 1 of the section A rules of the RMPP Cut-Off Date Rules; or

(ii)

if the person is a Cut-Off Date Active, any of the benefits provided for in the Section A Rules of the RMSPS Rules;

“RMSPS Subsisting Rights” means—

(a)

in relation to a member of the RMSPS, at any time—

(i)

any right (including any pension credit right) which at that time has accrued or been provided to or in respect of the member to future benefits under the Relevant RMSPS Rules; or

(ii)

any entitlement to the present payment of a pension or other benefit which the member has at that time, under the Relevant RMSPS Rules; and

(b)

in relation to the survivor of a member of the RMSPS or of the RMPP, at any time, any entitlement to benefits, or right to future benefits, which that survivor has at that time under the Relevant RMSPS Rules in respect of such member;

“survivor”, in relation to a member of the RMSPS or the RMPP, means a person who—

(a)

is the widow or widower of the member; or

(b)

has survived the member and has any entitlement to benefit, or right to future benefits, under the Relevant RMSPS Rules in respect of the member;

“Timing Requirement” has the meaning given in paragraph 8.

(2) A modification would or might adversely affect a person’s RMSPS Subsisting Rights if it would alter the nature or extent of the entitlement or right so that the benefits, or future benefits, to which the entitlement or right relates would or might be less generous.

(3) An amendment or modification to a rule or provision of the RMSPS will be an “Equivalent Correction” where—

(i) any rule or provision of the RMPP Rules has been subject to rectification or correction which would not be subject to or restricted by the restrictions on the power to amend the RMPP Rules or the “subsisting rights provisions” within the meaning of section 67 of the Pensions Act 1995 at that time (or such rectification or correction would be available in relation to that rule or provision);

(ii) the rule or provision of the RMSPS corresponds to or is derived from that rule or provision of the RMPP Rules; and

(iii) the amendment or modification to the rule or provision of the RMSPS is consistent with such rectification or correction of that rule or provision of the RMPP, and does no more than implement a corresponding correction to the terms of the rule or provision of the RMSPS.

(1)

1995 c.26.

(2)

1993 c.48.