{
  "url": "https://openlegislation.uk/railways-pension-scheme-order-1994/schedule/paragraph-7n2",
  "json_url": "https://openlegislation.uk/railways-pension-scheme-order-1994/schedule/paragraph-7n2.json",
  "legislation": "uksi/1994/1433",
  "legislation_title": "The Railways Pension Scheme Order 1994",
  "legislation_url": "https://openlegislation.uk/railways-pension-scheme-order-1994",
  "path": "schedule/paragraph/7n2",
  "kind": "paragraph",
  "number": "7",
  "heading": "General Provisions on Transfers",
  "text": "Protected Person\n(a) In any case where the Railway Pensions (Protection and Designation of Schemes) Order 1994 requires the Trustee to transfer an amount higher than the amount specified above or to provide benefits following receipt of a transfer payment which are different from those specified above, the Trustee will transfer that higher amount or provide those different benefits.\nShare of Fund\n(b) Other than transfers under 8C 3 above, in any case where the amount of the transfer payment is calculated on a share of fund basis, the amount will be as determined by the Actuary after taking into account all relevant matters including the resources of the relevant Section.\nPast Service Reserve\n(c) In any case where the amount of a transfer payment based on the Member’s Past Service Reserve is greater than a transfer payment based on a share of fund, the transfer payment will be limited to the transfer amount based on a share of fund. In these circumstances benefits to be granted in the receiving scheme, arrangement or Section will be equivalent in value to the amount transferred.\nReduction of Cash Equivalent\n(d) In accordance with the Transfer Value Laws the cash equivalent provided will be reduced in the event of a deficiency provided the Pensions Committee agrees.\nCompulsory change in employment\n(e) For the purposes of this Clause 8C “compulsory change in employment” means in relation to a Member a change in employment following a transfer, sale or disposal of shares of an Employer (including where the Employer is a Franchise Operator) where the Member can no longer continue to accrue benefits under the Section.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1994/2005",
      "affecting_title": "The Railway Pensions (Transfer and Miscellaneous Provisions) Order 1994"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1433/schedule/paragraph/7n2",
    "retrieved_at": "2026-10-29T13:32:29.265047+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}