SCHEDULE 1The Royal Mail Statutory Pension Scheme Rules

PART ICLAUSES

Overriding Finance Act 2004 Provisions13

The RMSPS is a Registered scheme. The provisions of Part IX (Overriding Finance Act Provisions) of this Schedule shall apply to the benefits of Cut-Off Date Actives under the RMSPS and, except where the Rules expressly provide otherwise, override any other provision of the RMSPS with which they are inconsistent. For avoidance of doubt, the benefits of Wholly Transferred Beneficiaries shall not be subject to Part IX, but instead (in accordance with Clause 3(2) (Benefits payable in respect of Wholly Transferred Beneficiaries)) shall be subject to the equivalent Finance Act 2004 provisions that applied to them under the RMPP Cut-Off Date Rules.