The Transport Act 2000 (Civil Aviation Authority Pension Scheme) Order 2001

Section B—Other Priorities

The order of priority in this Section B is as follows, provided that (1) where the balance of assets to be applied as aforesaid is insufficient to secure the whole of the benefits within any of the following numbered sub-paragraphs the benefits within that sub-paragraph shall be secured on a proportionate basis and (2) none of the following sub-paragraphs shall include benefits already included within a higher priority and (3) except as provided below, any pension under this Section B shall include increased and prospective increases to such pensions in accordance with Rule 39:

(a) Pensions and other benefits for Members, their Spouses, Qualifying Children and Dependants and for any other persons to which entitlement to payment has arisen hereunder prior to the effective date of winding-up of the NATS Section including any associated death benefits.

(b) Pensions and other benefits which have been postponed beyond Normal Pension Date (such benefits to be payable as at the effective date of winding-up of the NATS Section) including any associated death benefits.

(c) Guaranteed minimum pensions and accrued rights to guaranteed minimum pensions, benefits excluded from guaranteed minimum pensions by virtue of section 13(6) of the Pension Schemes Act 1993(1), and Contributions Equivalent Premiums.

(d) Benefits which have been conferred on Members under the NATS Section in respect of transfers to the NATS Section (other than in respect of transfers from retirement benefits schemes of any of the Employers or from another Section of the Scheme).

(e) In respect of Members who have not reached Normal Pension Date and have not received any retirement benefits from the NATS Section, the benefits to which those Members are entitled from the NATS Section or, in the case of Current Members, the benefits or refunds of contributions to which they would have been entitled from the NATS Section if they had left Service at the effective date of winding-up of the NATS Section such benefits being non-assignable benefits payable to such Members, their Spouses, Qualifying Children and Dependants.

(1)

1993 c. 48.