The British Railways Pension Schemes (Unfunded Proportions) (No. 1) Order 1981

• Citation: S.I. 1981/346
• Sections: 5

Section 1 Commencement and Citation

This Order shall come into operation on 4th April 1981 and may be cited as the British Railways Pension Schemes (Unfunded Proportions) (No. 1) Order 1981.

Section 2 Interpretation

In this Order “ the relevant pension obligations ” has the meaning given by Section 53 of the Transport Act 1980.

Section 3 Application of Order

This Order applies to the British Railways (Wages Grades) Pension Fund.

Section 4 Determination of Unfunded Proportion

The proportion of the relevant pension obligations which has not been funded in relation to the British Railways (Wages Grades) Pension Fund is determined to be 0.1365.

Section 5 Supplemental

This Order varies all previous determinations of the proportion of relevant pension obligations which has not been funded, made by the Secretary of State in relation to the British Railways (Wages Grades) Pension Fund.