Article 5 Alterations in the terms of certain schemes for providing pensions and other benefits
This Article shall apply to the pension schemes listed in column (1) of Schedule 2 to this Order.
Where a member of a pension scheme to which this Article applies becomes a member of the New Fund on or after the 14th August 1967, the following provisions shall have effect:—
upon the date of his admission to membership of the New Fund he shall cease to be entitled to receive from that scheme any benefit of the type indicated in relation to that scheme in Column (2) of the said Schedule and (subject to this Order) such adjustment as may be appropriate shall be made in respect of the liability of that member to pay contributions to that scheme after that date; and
as soon as may be after that date the persons administering that pension scheme shall pay to the New Fund an appropriate transfer value in respect of the accrued pension rights of that member in that scheme to benefits of the type so indicated.