Explanatory note

The Water Act 1973 empowers statutory water undertakers to establish and administer pension arrangements for their employees, and requires all statutory water companies to participate in a superannuation scheme (called in the Act “the standard water company scheme”) which is to offer to their employees terms and benefits not less favourable than those offered by a corresponding superannuation scheme (“the standard water authority scheme”) to employees of water authorities.

This Order, which applies to England and Wales—

(a) designates the scheme contained in Regulations under section 7 of the Superannuation Act 1972 as the standard water authority scheme (Article 3);

(b) designates a corporation to manage the standard water company scheme (Article 4); and

(c) prescribes a date before which certain existing employees of statutory water companies may opt that the standard water company scheme shall not apply to them (Article 5).