The Railways Pension Scheme Order 1994

Appendix 4 PENSIONS COMMITTEE

Establishment

Each Pensions Committee shall be set up as described below except in the case of the Pensions Committee for the 1994 Pensioners “A” and “B” Section where Schedule 1 of the Rules of the 1994 Pensioners “A” and “B” Sections shall apply.

Composition

Each Pensions Committee shall be composed of an equal number of Members' appointees (“Members' Appointees”) and Participating Employers' appointees (“Participating Employers' Appointees”). The total number shall be decided through local procedures by the Designated Employer.

Appointees

(a)

Participating Employers' Appointees

• The Designated Employer shall appoint the Participating Employers' Appointees.

(b)

Members' Appointees

• The Members of the Section shall appoint the Members' Appointees.

Subject always to the provisions of this Appendix, the Designated Employer of each Section shall obtain the consent of the Trustee to:

(i) the procedures for selection of Participating Employers' and Members' Appointees;

(ii) the manner in which the Pensions Committee has decided to regulate its affairs; and

(iii) any changes to the manner in which the Pensions Committee regulates its affairs.

The consent of the Trustee may not unreasonably be withheld.

Chairman and Deputy Chairman of the Committee

The Members' Appointees and the Participating Employers' Appointees shall elect a Chairman and Deputy Chairman of the Pensions Committee. Initially, the post of Chairman shall be held by a Participating Employers' Appointee and the post of Deputy Chairman shall be held by a Members' Appointee. The posts shall alternate annually between a Participating Employers' Appointee and a Members' Appointee.

Procedure at Committee Meetings

At all meetings of the Pensions Committee, a quorum shall consist of 50% of the Members' Appointees and 50% of the Participating Employers' Appointees. One of those present must be either the Chairman or Deputy Chairman. No resolution of the Pensions Committee shall be regarded as carried unless it has been approved by the majority of the Members present.

The Pensions Committee shall maintain Minutes of all its meetings and the Chairman shall ensure that copies of those Minutes, together with copies of agendas for meetings and all other committee papers are sent promptly to the Trustee.