Rights to acquire pension benefits
This section has no associated Explanatory Memorandum
4. For the purposes of section 123X(8)(b) and 138S(8)(b) of the 2000 Act (rights to acquire pension benefits), the rights to acquire pension benefits which a relevant employee must have as an employee of the new operator(1) are rights which—
(a)are the same as the rights the relevant employee had as an employee of the original operator; or
(b)count, by virtue of regulation 5, as being broadly comparable to, or better than, those rights.
(1)
The term “new operator” takes the meaning given in section 123X(1)(b) or 138S(1)(b) or, as the case may be, section 123X(2)(b) or 138S(2)(b), of the Transport Act 2000.