Explanatory note

This Order relates to the newly established British Waterways Board (Wages Grades) Pension Scheme, 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 Wages Grades Pension Scheme. 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 Scheme, 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.