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 4 TO THE RULES OF THE SHARED COST ARRANGEMENT BRASS–SO

13.  The Person Entitled shall be deemed to have made an election under paragraph 13:

(i) in respect of so much of the proceeds of the Policy payable under paragraph 11 as may not, as a result of Inland Revenue limits, be paid to the Person Entitled as lump sum in accordance with paragraph 12;

(ii) in respect of so much of the proceeds of the Policy as exceeds Inland Revenue limits.