Postal Services Act 2011

Introduction

16 Introduction

(1) In this Part—

• “the RMPP” means the Royal Mail Pension Plan,

• “qualifying member of the RMPP” means a person who is or has been a member of the RMPP of a prescribed description,

• “the qualifying time” means the time immediately before such date as may be prescribed (which may be before the passing of this Act),

• “qualifying accrued rights” means—

  (a)

  any right which, at the qualifying time, has accrued to or in respect of a qualifying member of the RMPP to future benefits under the RMPP,

  (b)

  any entitlement under the RMPP to the present payment of a pension or other benefit which a qualifying member of the RMPP has at the qualifying time, or

  (c)

  any entitlement to benefits, or rights to future benefits, under the RMPP which a person who has survived a qualifying member of the RMPP has at the qualifying time in respect of the member.

(2) For the purposes of the definition of “qualifying accrued rights”—

(a) references to pensions or other benefits (including future benefits) do not include money purchase benefits but, subject to that, do include benefits attributable to additional voluntary contributions, and

(b) references to a right include a pension credit right.

(3) In the event that qualifying members of the RMPP include any person (“P”) who is in pensionable service under the RMPP after the qualifying time—

(a) the qualifying accrued rights in respect of P, and

(b) the amounts payable in respect of those rights,

are to be determined for the purposes of this Part on the assumption that P had opted, immediately before the qualifying time, to terminate that service.