The Railways Pension Scheme Order 1994 No. 1433

THE SCHEDULE PENSION TRUST OF THE RAILWAYS PENSION SCHEME

Appendix 2 THE ARRANGEMENTS AND RULES GOVERNING THE ARRANGEMENTS

The Arrangements of the Scheme are the Shared Cost Arrangement, the Defined Benefit Arrangement and the Defined Contribution Arrangement.

SCHEDULE 10 TO THE RULES OF THE SHARED COST ARRANGEMENT SPECIAL TERMS FOR CERTAIN MEMBERS OF THE BRITISH RAILWAYS (WAGES GRADES) PENSION FUND (“WAGES GRADES MEMBERS”)

PART 1

3.  The lump sum payable under Rule 7 (Death in Service on or before Age 65) or Rule 8 (Death after Retirement) on the death of a Wages Grades Member to whom this schedule applies shall be reduced by the excess of:

(i) the aggregate of:

(a) the proportion of each element of the Preserved Death Benefit (if any) shown in column 4 of parts 2, 3 and 4 in respect of each scheme (if any) of which he or she was a member; and

(b) the amount of the capital sum death benefit (if any) payable from the pension schemes mentioned in items (ii), (iii), (iv) and (v) of paragraph 1 which was provided by contributions from the employer;

over

(ii) £125,

except that the lump sum payable as aforesaid shall not be reduced under this paragraph below the Member’s Accumulated Contributions (as defined in the rules of the British Railways (Wages Grades) Pension Fund).