The Railways Pension Scheme Order 1994

MEANING OF WORDS USED

1.  This Rule sets out the meaning of words used in these Rules.

“Accrual Rate”	means the accrual rate chosen by the Designated Employer under Clause 3D of the Pension Trust (Defined Benefit Arrangement) and set out in the Deed of Establishment and Participation.
“Dependant”	means any person who the Trustee determines is financially dependent on another person or was so dependent at the time of the other person’s death.
“Earnings Cap”	means the amount specified for the purposes of section 590C of the Taxes Act.
“Employee”	means a permanent employee or director of a Participating Employer.
“Final Pensionable Pay”	means the average of the Member’s Pensionable Pay during the 12 months ending on the date the Member leaves Service, reaches Minimum Pension Age or dies, whichever is earlier. If the Member was not in Service for the whole of the last 12 months, his Pensionable Pay shall be deemed to continue for the balance of the year for the purpose of calculating Final Pensionable Pay.
“GMP”	means a guaranteed minimum pension (or accrued right to one) under the Pensions Act.
“Incapacity”	means permanent physical or mental incapacity which the Trustee determines prevents a Member from following his normal occupation or seriously impairs his earning capacity.
“Lump Sum Death Benefit”	means the amount payable under Rule 7A (Member dies in Service before pension starts) on the Member’s death at the multiple of the Member’s Final Average Pay chosen by the Designated Employer under Clause 3D of the Pension Trust (Defined Benefit Arrangement) and set out in the Deed of Establishment and Participation.
“Member”	means an Employee who has joined the Section and has not ceased to be entitled to benefit under the Section.
“Member’s Contribution Rate”	means the contribution rate chosen by the Designated Employer under Clause 3D of the Pension Trust and set out in the Deed of Establishment and Participation.
“Minimum Pension Age”	means the age chosen by the Designated Employer under Clause 3D of the Pension Trust (Defined Benefit Arrange– ment) and set out in the Deed of Establishment and Participation.
“Participating Employer”	means an employer participating in the Section.
“Pension Trust”	means the trust which governs the Scheme.
“Pensionable Pay”	means the Member’s annual basic salary or wages earned from the Participating Employer together with such other remuneration as the Participating Employer, with the consent of the Trustee, decides. Pensionable Pay cannot, however, exceed the amount of the Earnings Cap at the relevant date.
“Pensionable Service”	means the Member’s Service after joining the Section together with any additional period credited to the Member by the Participating Employer or the Trustee as a result of a transfer payment or the exercise of a discretion.
“Section”	means in relation to a particular Designated Employer the Defined Benefit Section for that Participating Employer.
“Service”	means employment as an Employee, but leaving the employment of one Participating Employer to join the employment of another counts as leaving Service unless Pensionable Service is deemed to be continuous under Rule 12 (Early Leavers Rejoining).
“State Pension Age”	means age 60 (for a woman) and age 65 (for a man) or such other ages on which basic state pension benefits first become payable.