1981 No. 1646
The British Railways Pension Schemes (Unfunded Proportions) (No. 2) Order 1981
Made
Laid before the House of Commons
Coming into Operation
The Secretary of State for Transport in exercise of the powers conferred by section 54 of the Transport Act 1980 and now vested in him1 and of all other enabling powers and after consulting with the persons administering each B.R. pension scheme and the British Railways Board hereby makes the following Order:—
Commencement and Citation1
This Order shall come into operation on 30th December 1981 and may be cited as the British Railways Pension Scheme (Unfunded Proportions) (No. 2) Order 1981.
Interpretation2
In this Order—
“B.R. pension scheme” has the meaning given by Section 60 of the Transport Act 1980;
“the relevant pension obligations” has the meaning given by Section 53 of the Transport Act 1980.
Application of Order3
This Order applies to the B.R. pension schemes listed in column (1) of the Schedule to this Order.
Determination of Unfunded Proportion4
The proportion of the relevant pension obligations which has not been funded in relation to each B.R. pension scheme listed in column (1) of the Schedule to this Order is determined to be the proportion shown in column (2) of that Schedule.
Supplemental5
This Order confirms or varies all previous determinations of the proportion of relevant pension obligations which has not been funded, made by the Secretary of State in relation to each of the B.R. pension schemes listed in column (1) of the Schedule to this Order as stated in column (3) of that Schedule.
THE SCHEDULE
(1) | (2) | (3) |
|---|---|---|
Pension Scheme | Proportion of the relevant pension obligations determined not to have been funded | Effect of Order on previous determinations |
British Railways Superannuation Fund: | ||
New Section | 0.4163 | Varies |
GWR Section | Zero | Confirms |
LMSR Section | Zero | Confirms |
LNER Section so far as relating to persons admitted to the London and North Eastern Railway Superannuation Fund before 1st June 1957 | Zero | Confirms |
LNER Section so far as not so relating | Zero | Varies |
RCS Section | 0.5192 | Varies |
SR Section | Zero | Confirms |
British Transport Police Force Superannuation Fund | 0.6599 | Varies |
B.R. (1974) Pension Fund | 1.0000 | Confirms |
Great Eastern Railway New Pension Fund and New Pension (Supplemental) Fund Trust Account | Zero | Confirms |
Great Northern Railway Superannuation Fund | 0.6153 | Varies |
Great Western Railway Inspectors and Foremen's Special Pension Fund | Zero | Confirms |
Great Western Railway Pension Society | Zero | Confirms |
Great Western Railway Salaried Staff Supplemental Pension Fund | 1.0000 | Confirms |
Great Western Railway Supplemental Pensions Reserve Fund | 0.0259 | Varies |
Great Western Railway Widows and Orphans' Benevolent Fund | Zero | Confirms |
Lancashire and Yorkshire Railway Pension Fund Society | 0.0894 | Varies |
London, Brighton and South Coast Railway Pension Fund | Zero | Confirms |
London Midland and Scottish Railway (L.N.W.) Insurance Society | 1.0000 | Confirms |
London Midland and Scottish Railway (L.N.W.) Provident and Pension Society | 1.0000 | Confirms |
London Midland and Scottish Railway (L.N.W.) Supplementary Pension Fund and Locomotive Foremen's Pension Fund | 1.0000 | Confirms |
London Midland and Scottish Railway Midland Friendly Society | 1.0000 | Confirms |
London Midland and Scottish Railway (North Staffordshire Section) Friendly Society | 1.0000 | Confirms |
North British Railway Insurance Society | Zero | Varies |
North Eastern and Great Eastern Superannuation Societies and Pension Funds Joint Trust Account | Zero | Confirms |
Southern Railway (South Eastern & Chatham Section) Enginemen & Motormen's Pension Fund Society | Zero | Confirms |
Thomas Bantock & Co. Superannuation Fund | 0.5562 | Varies |