Explanatory note

This Order relates to the newly established British Waterways (Salaried Staff) Pension Fund, to the British Transport Commission (Male Wages Grades) Pension Scheme and to certain other pension schemes (including insurance schemes) mentioned in the Order. It provides (Article 3) for the application of the interavailability arrangements for pensions in the publicly owned transport industry to the newly established Salaried Staff Pension Fund. It also regulates (Articles 4–6) the position of members of the British Transport Commission (Male Wages Grades) Pension Scheme or of the other pension schemes referred to above, who become members of the newly established Fund, so as to avoid duplication of membership. Provision is made (Articles 7–9) for the payment of transfer values, for certain consequential matters and for the determination of questions. Article 10 safeguards existing rights.

By virtue of section 74(7) of the Transport Act 1962 the Order has effect from the 13th September 1971, the date on which the newly established Salaried Staff Pension Fund mentioned above came into operation.