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The Railways Pension Scheme Order 1994
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OPTING OUT
17. A Member may at any time opt out of the Section by giving one month’s notice to the Participating Employer and the Trustee. The Member shall be treated as if he had left Service on the day the notice expires except that no pension or lump sum shall be paid to the Member until the Member actually leaves Service (or reaches age 75, if earlier).
A Member who opts out of the Section may rejoin only with the specific permission of the Participating Employer. If the Member is allowed to rejoin, the Member’s benefits shall be calculated in accordance with Rule 12 (Early Leavers Rejoining). Any period between opting out of the Section and rejoining shall not count as Service.
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