The Arrangements of the Scheme are the Shared Cost Arrangement, the Defined Benefit Arrangement and the Defined Contribution Arrangement.
(5) (a) (i) This paragraph applies to Members who immediately prior to joining the Wages Fund on 7th April 1975 were entitled to a pension under scheme numbers 123—126, 220, 221, 223, 225, 227, 229, 251—253, 321, 322 or 340 of part 2 of Schedule 10, and who did not subsequently transfer to the New Section.
(ii)Members who immediately prior to joining the Wages Fund on 14th August 1967 were entitled to a pension under scheme numbers 123—126, 220, 221, 223, 225, 227, 229, 251—253, 321, 322 or 340 of part 2 of Schedule 10 may elect, within such time limit as may be imposed by the Participating Employer, that this paragraph shall apply to them instead of paragraph (1), and instead of paragraph (2) insofar as it relates to the said schemes.
(b)A Member to whom this paragraph applies shall be granted a period of Pensionable Service equal to the period of credited membership granted in the Wages Fund under the provisions of rule 5(5)(b) of the Wages Fund.