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Section 251 of the Pensions Act 2004

20 December 2010

Members of various sections of the Railways Pension Scheme (RPS) will have received a letter from the Railways Pension Trustee Company Ltd. giving notice that the Trustee has decided to pass a resolution as required under the above legislation.

After taking legal advice the Trustee decided to take this course of action. If it did not, the Trustee may lose powers that already exist to make payments to employers from that employer’s section(s) of the RPS.

We have been contacted by a number of members who appear to be concerned/ suspicious about this course of action. However, in passing the resolution required by the legislation, the Trustee is only protecting power it already has and is not seeking to extend its powers. There is nothing sinister, therefore, in what the Trustee is doing.

It should also be remembered that the RPS Trustee Board is made up of members nominated by trade unions and pensioner organisations as well as employers and the decision to pass the required resolution was not an employer led initiative.

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