{
  "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012",
  "json_url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012.json",
  "id": "uksi/2012/688",
  "title": "The Postal Services Act 2011 (Transfer of Assets) Order 2012",
  "short_title": "Postal Services Act 2011 (Transfer of Assets) 2012",
  "long_title": "This Order implements sections 21 and 22 of the Postal Services Act 2011 (c. 5) (“the Act”). It transfers assets from the Royal Mail Pension Plan (“RMPP”) to a Fund established by the Secretary of State for Business, Innovation and Skills (the Business Innovation and Skills Fund Limited, “the Fund”) and prescribes how the assets and liabilities of the RMPP must be valued for the purposes of the transfer. This Order will come into force at the same time as the Postal Services Act 2011 (Transfer of Accrued Pension Rights) Order 2012 (SI No. 2012/687) (“the Benefits Order”), which transfers all the historic liabilities of the RMPP to a new public scheme.",
  "citation": "S.I. 2012/688",
  "type": "uksi",
  "year": "2012",
  "number": "688",
  "version": "current",
  "date": "2012-03-08",
  "revised": true,
  "valid_from": "2012-04-01",
  "extent": "E+W+S+N.I.",
  "unapplied_effects": 0,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/introduction",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": "Citation, commencement and interpretation",
      "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/article-1",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": "Determination of Transfer Amounts",
      "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/article-2",
      "extent": "E+W+S+N.I.",
      "status": null,
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      "path": "article/3",
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    },
    {
      "path": "article/4",
      "kind": "article",
      "number": "4",
      "heading": "Interim and Final Transfers",
      "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/article-4",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/5",
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      "url": "https://openlegislation.uk/postal-services-act-2011-transfer-of-assets-order-2012/article-5",
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      "path": "article/6",
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    },
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      "path": "article/8",
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    },
    {
      "path": "article/9",
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    },
    {
      "path": "signature",
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      "heading": "Signature",
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      "path": "schedule/1",
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      "heading": "CALCULATION OF TRANSFER AMOUNTS",
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      "path": "schedule/1/paragraph/1",
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      "heading": "Definitions",
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      "path": "schedule/1/paragraph/2",
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      "heading": "Basis for calculating the liabilities of the RMPP",
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      "path": "schedule/1/paragraph/3",
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      "heading": "Basis for calculating the value of the RMPP assets",
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      "path": "schedule/1/paragraph/8",
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      "heading": "Calculation of Interim Transfer Amount",
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      "path": "schedule/1/paragraph/9",
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      "heading": "Calculation of Estimated Final Transfer Amount",
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      "path": "schedule/1/paragraph/10",
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      "path": "schedule/1/paragraph/11",
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      "heading": "Applicable trust deed and rules governing the RMPP and members when calculating the liabilities of the RMPP",
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      "heading": "FINANCIAL ASSUMPTIONS",
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      "heading": "Proportion married and age differences of members and dependants",
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      "heading": "Voluntary withdrawal and ill-health retirement",
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      "heading": "Estimated Final Transfer Amount Portfolio",
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      "heading": "Confirmation of assets being retained by RMPP and notional portfolio",
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      "heading": "Composition of Final Transfer and calculation of Adjusted Final Transfer Amount",
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