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Schedule THE PENSION TRUST OF THE RAILWAYS PENSION SCHEME

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  1. 1MEANING OF WORDS USED
  2. 2TRUSTEE
  3. 2AConstitution
  4. 2BDelegation
  5. 2CExpenses and Charges
  6. 2DLimit of Liability
  7. 2ETrustee Insurance
  8. 2FTrustee Indemnity
  9. 2GFiduciary Duty
  10. 3THE SCHEME SECTIONS
  11. 3AParticipation of Participating Employers
  12. 3BParticipating Employer establishing or participating in a Section
  13. 3CArrangements
  14. 3DDefined Benefit Arrangement
  15. 3EDefined Contribution Arrangement
  16. 3FParticipating Employer establishing more than one Section
  17. 3GChange of Terms
  18. 3HNew Designated Employer
  19. 4PENSIONS COMMITTEE
  20. 4ASetting up a Pensions Committee
  21. 4BDelegation
  22. 4CExpenses
  23. 5ASSETS OF THE SCHEME
  24. 5AContributions by Participating Employers
  25. 5BPayment of Participating Employers' Contributions
  26. 5CPayment of Members' Contributions
  27. 5DInterest on Late Payment
  28. 5EAssets held on Trust
  29. 5FApplication of Assets
  30. 5GConsultation with Pensions Committees
  31. 6ACCOUNTS, ACTUARIAL VALUATIONS AND ANNUAL REPORTS
  32. 6AAccounts
  33. 6BActuarial Valuations
  34. 6CAnnual Reports
  35. 7GENERAL PROVISIONS ABOUT SCHEME BENEFITS
  36. 7APayment of Benefits
  37. 7BDeduction of Tax
  38. 7CBeneficiary who is Incapable
  39. 7DBenefits not Assignable
  40. 7EForfeiture of Benefits
  41. 7FNotices
  42. 7GInland Revenue Limits
  43. 7HProtected Persons
  44. 8SCHEME BENEFITS — POWERS OF TRUSTEE
  45. 8ACommutation Triviality
  46. 8BTransfers–in
  47. 8CTransfers–out
  48. 1Transfers to another scheme or other arrangement or to a Section which has adopted the rules of the Defined Contribution Arrangement
  49. 2Transfers between Sections which have adopted the rules of the Shared Cost Arrangement or of the Defined Benefit Arrangement
  50. 3Initial transfers to Sections as a consequence of Transfer Schemes
  51. 4Pensioners and Deferred Pensioners
  52. 5Definition of Past Service Reserve
  53. 6Notification by Actuary
  54. 7General Provisions on Transfers
  55. 8DBuy–Outs
  56. 9CONTRACTING–OUT
  57. 9AOverrides other Provisions
  58. 9BGMPs
  59. 9CLate Retirement
  60. 9DEarly Leavers
  61. 9EAnti–Franking
  62. 9FTransferred GMPs
  63. 9GOther Contracting–out Requirements
  64. 10CEASING TO PARTICIPATE
  65. 10AWhen Participation Ceases
  66. 10BOne Participating Employer in a Section ceases to Participate
  67. 10CAll Participating Employers in a Section cease to Participate
  68. 10DParticipating Employer transfers between Sections
  69. 11WINDING–UP A SECTION WHERE ALL EMPLOYERS CEASE TO PARTICIPATE
  70. 11AAll Participating Employers in a Section cease to Participate
  71. 11BExpenses and Sums Due
  72. 11CBuying Annuities
  73. 11DAdditional Voluntary Contributions
  74. 11ETransfers
  75. 11FSurplus Assets on Winding–up
  76. 11GGMPs
  77. 11HTrivial Benefits
  78. 11IDefined Contribution Arrangement
  79. 12CHANGE OF FRANCHISE OPERATOR OR SALE OF BUSINESS
  80. 12AParticipating in a Section
  81. 12BChange of Franchise Operator
  82. 13CHANGING THE PENSION TRUST AND RULES
  83. 13AChanging the Pension Trust or Rules generally
  84. 13BChanging only the Rules of a Section
  85. 13CRestrictions on Changes
  86. 14GOVERNING LAW
  87. 1Appendix 1
  88. 2THE ARRANGEMENTS AND RULES GOVERNING THE ARRANGEMENTS
  89. 3DEED OF ESTABLISHMENT AND PARTICIPATION
  90. 4PENSIONS COMMITTEE
  91. 5MODEL SCHEME OF DELEGATION
  92. 6INLAND REVENUE LIMITS
  93. 7AMENDMENT RESTRICTIONS — SHARED COST SECTIONS
  94. 8PROVISIONS ENTRENCHED BY CLAUSE 13 — SHARED COST SECTIONS