Article 3 Alterations in the terms of certain schemes for providing pensions and other benefits
This Article shall apply to the pension schemes listed in the Schedule to this Order.
A person who becomes a member of the New Fund on or after the 1st January 1971 shall, so long as he is a contributing member of the New Fund, be ineligible for admission to a pension scheme to which this Article applies.
Where a member of a pension scheme to which this Article applies becomes a member of the New Fund on or after the 1st January 1971, the following provisions shall have effect:—
upon the date of his admission to membership of the New Fund he shall cease to be a member of that pension scheme and (except as hereinafter provided) his liability to pay contributions to and his right to receive benefit from that scheme shall cease; 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.
Where by reason of the foregoing provisions of this Article a person ceases to be a member of the London Transport (Administrative and Supervisory) Staff Superannuation Fund or of the Railway Clearing System Superannuation Fund and immediately before that cessation he was, in the case of a member of the former fund, a member of the Managing Committee or of the Council of that fund, or of both the said Committee and the said Council, or, in the case of a member of the latter fund, a member of the Committee of that fund, then he may, notwithstanding the cessation of his membership of the fund in question, continue to act as a member of the body or bodies of which he was a member as aforesaid, for a period not exceeding three years from the date of that cessation, but subject, however, to all the other provisions applicable to the office of such member.