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The Transport Holding Company (Pensions) Order 1973

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Consequential provisions

6.—(1) Where under the provisions of this Order a transfer value payment is made in respect of the accrued pension rights of any person in a pension fund, then on the making of that payment—

(a)that person shall cease to be a member of that fund, if his membership has not previously ceased, and

(b)the rights against that fund of that person, and of any other person having rights in that fund by reason of the pensionable service which has given rise to the accrued pension rights, shall cease.

(2) Cessation of a person's membership of a pension fund under paragraph (1) above shall be without prejudice to the obligation of that person to pay any outstanding contributions to that fund in respect of any period before such cessation, and at the rate appropriate to that period, or to the right of his employer to deduct such contributions from his emoluments.

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