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The Railways Pension Scheme Order 1994
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Benefits not Assignable
7D If a person tries to assign or charge his benefit payable under the Scheme or if any event occurs by which all or part of the benefit would become payable to some other person, the benefit shall cease to be payable. An equivalent benefit shall be paid to, or used for the benefit of, one or more of the persons concerned and that person’s Dependants or Eligible Dependants (as defined in the Rules), in such shares as the Trustee decides. But the equivalent benefit may not be paid to anyone in whose favour the person concerned tried to assign or charge the benefit.
This Clause does not apply to GMP.
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