The Railways Pension Scheme Order 1994

Setting up a Pensions Committee

4A  Until the Trustee is notified that a Pensions Committee has been set up for a Section and has delegated powers to it under Clause 2B (Delegation), the Trustee shall itself exercise all powers, duties and discretions which might otherwise be delegated to or imposed on a Pensions Committee.

If a Designated Employer so decides it shall set up a Pensions Committee. The Designated Employer shall notify the Trustee as soon as the Pensions Committee has been set up and at the same time provide the Trustee with the name and address of the Chairman of the Pensions Committee. The Trustee shall then exercise its power of delegation in accordance with Clause 2B. In the case of the 1994 Pensioners “A” and “B” Sections, the Designated Participating Employer is the Secretary of State.

At the time of the exercise of its power of delegation under Clause 2B, the Trustee shall notify the relevant Pensions Committee of each available Pooled Fund.

The composition and administrative provisions governing the Pensions Committee shall be as set out in Appendix 4 except in the case of the 1994 Pensioners “A” and “B” Sections where the composition and administration is as set out in Schedule 1 to the 1994 Pensioners “A” Section.

Any person may be a member of a Pensions Committee regardless of whether he is also a Member (and may benefit from a power which he is involved in exercising as a member of the Pensions Committee) or whether he has a direct or indirect interest in the Section or is a director of a Participating Employer, Railtrust Holdings Limited or the Trustee.

The Designated Employer shall notify the Trustee as soon as possible if the Pensions Committee ceases to exist and with effect from the date it ceases to exist the Trustee shall itself exercise all powers, duties and discretions which might otherwise be delegated to or imposed on a Pensions Committee.