# The Statutory Water Undertakers (Pension Schemes) Order 1974, Note: 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).

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Source: https://www.legislation.gov.uk/uksi/1974/525/note (the official version)
Page: https://openlegislation.uk/statutory-water-undertakers-pension-schemes-order-1974/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.