OpenLegislation

Rule 7 Benefits payable to Members who retire under the RMPP on redundancyI1I2

United Kingdom

(1)

Any Member (other than a Senior Manager Member) who is retired on the grounds of redundancy by that Member’s Employer after the Cut-Off Date will be paid that Member’s RMSPS NRA60 Benefits and RMSPS NRA65 Benefits (or, if either benefit is already in payment, the benefit not already in payment) so that they come into payment at the same time as that Member’s RMPP NRA60 Benefits and/or RMPP NRA65 Benefits (respectively) come into payment by reason of Rule 8 (Retirement on Redundancy) or Rule 8AA of Section B of the RMPP Rules.

(2)

Where the Member (other than a CWU Represented Member) is to receive benefits by reason of this Rule 7 then—

(a)

if that Member is retired before Minimum Pension Age, payment of those benefits will be deferred (and will subsequently come into payment) in accordance with Rule 3(8) (Benefits payable to Members on retirement); or

(b)

if that Member is retired on or after Minimum Pension Age the benefits will be paid without deferment.

(3)

Where a CWU Represented Member is to receive benefits by reason of this Rule 7 then—

(a)

if that Member is retired before Minimum Pension Age, payment of those benefits will be deferred in accordance with Rule 3(8) (Benefits payable to Members on retirement); or

(b)

if that Member is retired on or after Minimum Pension Age either—

(i)

payment of those benefits will be deferred in accordance with Rule 3(8) (Benefits payable to Members on retirement); or

(ii)

if that Member’s Employer declares the circumstances to be appropriate such that his or her corresponding RMPP benefits will be paid without deferment, his or her RMSPS benefits will also be paid without deferment.

(4)

This Rule will—

(i)

not apply to a Wholly Discharged RMPP Member;

(ii)

apply to a Partially Discharged RMPP Member, but only in respect of his or her RMSPS benefit that is not his or her Relevant RMSPS Benefit; and

(iii)

apply to a Nil Margin Member such that the Member’s RMSPS NRA60 Benefits and (if they have not already come into payment) his or her RMSPS NRA65 Benefits both come into payment, notwithstanding that notwithstanding that no amount in respect of his or her RMPP NRA60 Benefits will at that time come into payment under the RMPP.

(5)

Subject to Rule 3(10) (Benefits payable to Members on retirement) in respect of the Member’s GMP, the reductions set out in Rule 3(9) will apply to the benefits payable under this Rule 7.

Annotations

Commencement

I1

Sch. 1 Pt. IV rule 7 not in force at made date, see art. 1(3)

I2

Sch. 1 Pt. IV rule 7 in force at 1.4.2012 by S.I. 2012/966, arts. 2, 3(a)