Gas (Pension Rights) Regulations, 1950
| Jurisdiction | UK Non-devolved |
| Citation | SI 1950/1206 |
| Year | 1950 |
1950 No. 1206
PENSION SCHEME
The Gas (Pension Rights) Regulations, 195021stJuly 1950
26thJuly 1950
1stSeptember 1950
The Minister of Fuel and Power (in these regulations referred to as "the Minister") in exercise of the powers conferred upon him by sections fifty-eight and sixty-two of the Gas Act, 1948(a) (in these regulations referred to as "the Act") and of all other powers him enabling, hereby makes the following regulations:—
Transferred schemes
1.—(1) This regulation shall apply to any pension scheme confined immediately before the vesting date to employees of one or more undertakers to whom Part II of the Act applied (not being undertakers to whom section eighteen applied), or to such employees and to persons employed whole-time for the purpose of administering undertakings or parts of undertakings of such undertakers, any such scheme being in these regulations referred to as a "transferred scheme".
(2) For the purposes of this regulation and of the schedule to these regulations, any reference to the Area Board maintaining a transferred scheme shall be construed as a reference, in the case of a transferred scheme maintained—
(a) by the Gas Council, to that Council;
(b) by more than one Area Board, or by one or more Area Boards and the Gas Council, to one of them, or to all of them jointly, as the case may require.
(3) Every transferred scheme shall continue in operation subject to the Act and these regulations and to the modifications specified in the schedule to these regulations.
(a) 11 & 12 Geo. 6. c. 67.
(4) No person shall become subject to a transferred scheme on or after the date of the coming into operation of these regulations who was not subject to that scheme immediately before the said date, unless he was employed before that date on terms entitling or requiring him to become so subject on attaining a specified age or on the fulfilment of some other condition, which he attains or which is fulfilled, as the case may be, on or after it.
(5) Where any person who is subject to a transferred scheme is employed by an Area Board or the Gas Council not being the Area Board maintaining that scheme, he shall pay contributions as provided in the scheme to the first mentioned Board or Council; and that Board or Council shall pay to the trustees or managers of the scheme the amount of those contributions and such sums (if any) as under the scheme fall to be paid in respect of him by way of employer's contributions.
Divided schemes
2.—(1) This regulation shall apply where persons taken into the employment of an Area Board or the Gas Council in the period beginning at the passing of the Act and ending on the vesting date, or employed under contracts of service creating rights, liabilities and obligations which vested in an Area Board or the Gas Council by virtue of the Act, were until employed by that Board or Council subject to a pension scheme in which their employer participated (whether or not by making financial contributions), not being—
(a) a transferred scheme, a local government fund as defined in regulation four, the Federated Superannuation System for Universities or the Merchant Navy Officers' Pension Fund, or
(b) a pension scheme under which the benefits due were provided in pursuance of a contract between the managers of the scheme and an insurer:
Provided that its application shall be confined to cases where, in relation to an Area Board or the Gas Council, the number of persons to whom it applies with respect to the scheme in question by virtue of the next following paragraph, being persons for whom that Board or Council are the Board or Council concerned as defined in regulation fourteen, equalled or exceeded twenty-five at the vesting date.
(2) Any pension scheme with respect to which this regulation applies is in these regulations referred to as a "divided scheme"; and, in relation to any divided scheme and to the Board or Council concerned, this regulation shall apply to each person who immediately before the vesting date was—
(a) subject to the scheme, being a person taken into their employment since the passing of the Act, or employed under a contract of service creating rights, liabilities and obligations vesting in them by virtue of the Act;
(b) entitled or required to become so subject on attaining a specified age or on the fulfilment of some other condition, being a person who, if he had been then so subject, would have been within the application of sub-paragraph (a); and
(c) in receipt or entitled to be in receipt of a superannuation allowance or pension payable under the scheme by virtue of the employment of himself or some other person in or in connection with an undertaking vesting in them by virtue of the Act.
(3) While any person to whom this regulation applies is employed by any Area Board or the Gas Council (all such employment being in these regulations collectively referred to as "gas board employment") or until such date earlier than the termination of that employment as would have been appropriate under the relevant scheme if it remained applicable, he shall pay to his employing Board or Council (by deduction from his remuneration or otherwise) contributions at the rate for the time being appropriate under that scheme:
Provided that, in the case of a person who would have become subject to the scheme on attaining a specified age, or on the fulfilment of some other condition, the period for payment of the said contributions shall not begin until the date when he would have become so subject.
(4) The Board or Council concerned shall for each person to whom this regulation applies, and for each other person who under the relevant scheme would become entitled to any benefits in respect of any such person, afford rights corresponding with those which the person would have had if that scheme remained applicable and any service in gas board employment were service reckoned thereunder.
(5) Where, since the passing of the Act, any person to whom this regulation applies has received any return of contributions or payment under the relevant scheme, and, before the expiry of the period prescribed for that scheme under paragraph (7) of regulation three, he pays to the Board or Council concerned a sum equal to the sum returned or paid to him, the rights afforded to him under the last foregoing paragraph shall correspond with the rights which he would have had if the return or payment had not been made.
(6) Rights afforded to any person in pursuance of the foregoing paragraphs shall be in substitution for any rights which might otherwise at any time have accrued for his benefit under the divided scheme.
3.—(1) The trustees or other persons in whom the assets available for the purposes of any divided scheme are vested shall, within the period provided in paragraph (7) of this regulation, transfer to the Board or Council concerned such part of those assets as was immediately before the vesting date held against liability in respect of persons to whom the last foregoing regulation applies, or, in the case of all or any of that part, the equivalent thereof according to the value at the date of transfer, and pay to that Board or Council a sum (or, when the amount of the said part or equivalent is calculated, make an addition thereto) equal to compound interest at the rate of three per centum per annum from the vesting date until the date or dates of transfer on the value as at the vesting date of any amount of the said part or equivalent for the time being remaining to be transferred:
Provided that there shall be deducted from the part or equivalent so transferred an amount equivalent to the total of any expenses actually and necessarily incurred by the said trustees or other persons in the determination of the liability aforesaid.
(2) The liability aforesaid shall, with respect to any person who has received any return or payment under the scheme, and who has duly made a payment in pursuance of paragraph (5) of the regulation aforesaid to the Board or Council concerned, include, notwithstanding anything in the scheme, liability for the payment of any such benefits as would have been payable to or in respect of him if the said return or payment had not been made, after deduction of the sum returned or paid.
(3) If, under the practice of management immediately before the vesting date of any divided scheme, separate assessments were made with respect to one or more distinct sections of the fund maintained thereunder, for the purpose of deficiency payments or payments of a like nature, the amount of the liability aforesaid shall be deemed to be the aggregate assessed by actuarial valuation as at the day preceding the vesting date, of—
(a) for those covered by any section of the fund related to one or more undertakings vested in the Board or Council concerned, the capital value of every current or contingent liability in respect of superannuation allowances or other benefits under the scheme or for return of contributions, whether attributable to service rendered before or to be rendered after the vesting date, in respect of every person covered by any such section, after deduction of the capital value of any contributions payable on or after that date in respect of them, and any sums payable by way of additional contributory payment (or other payment of a like nature made to secure additional rights), so however that the total amount under this sub-paragraph shall be reduced by—
(i) the capital value of outstanding instalments of so much of any deficiency payment, or other payment of a like nature, assessed before the vesting date as was attributable to any section so related; and
(ii) the amount of the liability in respect of the persons (if any) who are covered by a section so related, but are not, in relation to the Board or Council concerned, persons to whom the last foregoing regulation applies, determined as provided in sub-paragraph (b); and
(b) for all...
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