The Pensions Increase (Power Jets) Regulations 1973

Type Statutory-Instrument
Publication 1973-05-22
State In force
Department Westlaw
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Made: 22nd May 1973

Laid before Parliament: 31st May 1973

Coming into Operation: 22nd June 1973

The Minister for the Civil Service, in exercise of the powers conferred on him by section 13(2) and (5) of the Pensions (Increase) Act 1971 and of all other powers enabling him in that behalf, hereby makes the following Regulations:—

Citation and commencement

1

These Regulations may be cited as the Pensions Increase (Power Jets) Regulations 1973, and shall come into operation on 22nd June 1973.

Interpretation

2

Persons to whom the Regulations apply

3

These Regulations apply to any person who—

National pension and lump sum

4

Payment of benefit equivalent to pension increase

5

The Minister for the Civil Service may, in respect of any period beginning on or after 1st September 1971, pay to any person to whom these Regulations apply an amount equal to the increase which would be payable to him under the Pensions (Increase) Act 1971 if there were payable to him—

Signed

Given under the official seal of the Minister for the Civil Service on 22nd May 1973.

Kenneth Baker — Parliamentary Secretary to the Civil Service Department

Explanatory note

EXPLANATORY NOTE

These Regulations apply to certain persons who have retired from the civil service and were formerly employed by Power Jets (Research and Development) Limited, and who receive retirement benefits under certain pension schemes providing benefits by means of insurance policies.

The Regulations provide for the payment of allowances corresponding to the increases for which the persons concerned would have been eligible under the Pensions (Increase) Act 1971 if they had been pensionable in the normal way under the principal civil service pension scheme. The allowances will be calculated on a “notional pension” and, in certain circumstances, a “notional lump sum” corresponding to the pension and lump sum a person would have received if he had been subject to the civil service pension scheme and entitled to reckon under that scheme his service during which he was subject to the insurance policy scheme.

In accordance with the power conferred by section 13(5) of the 1971 Act, the Regulations provide for the increase to take effect from 1st September 1971.

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