The Pensions Increase (Trustee Savings Banks Pensions) Regulations 1974

Made: 23rd May 1974

Laid before Parliament: 6th June 1974

Coming into Operation: 27th June 1974

The Minister for the Civil Service, in exercise of the powers conferred on him by sections 1(1) and (2) and 4(1) and 3(a) of the Pensions (Increase) Act 1974 and of all other powers enabling him in that behalf, hereby makes the following Regulations:—

1

These Regulations may be cited as the Pensions Increase (Trustee Savings Banks Pensions) Regulations 1974, and shall come into operation on 27th June 1974.

2

• (1) In these Regulations “the 1974 Act” means the Pensions (Increase) Act 1974.

• (2) The Interpretation Act 1889 shall apply for the interpretation of these Regulations as it applies for the interpretation of an Act of Parliament.

3

Pensions payable by the trustees of a trustee savings bank or by the Inspection Committee of trustee savings banks are hereby prescribed for the purposes of section 1(1) of the 1974 Act.

4

Pensions payable in respect of service ending with employment—

• (a) as an administrative officer of a trustee savings bank whose pay is fixed annually on a personal basis, or

• (b) as an officer of the Inspection Committee,

5

The date on which, in the opinion of the Minister for the Civil Service, the emoluments relevant for the purpose of calculating a pension payable by the trustees of a trustee savings bank or by the Inspection Committee of trustee savings banks were increased by the principal pay increase made during the year ending with 6th November 1974, in accordance with the code in force under section 2 of the Counter-Inflation Act 1973 at the time of the increase, is—

• (a) in the case of a pension payable in respect of service ending with employment as an administrative officer of a trustee savings bank whose pay is fixed annually on a personal basis, 21st November 1973;

• (b) in the case of a pension payable in respect of service ending with employment as an officer of the Inspection Committee, 1st January 1974; and

• (c) in the case of a pension payable in respect of service ending with employment as an officer of a trustee savings bank other than such an officer as is specified in paragraph (a) above, 21st May 1974;

6

Any increase of pension payable by virtue of these Regulations shall have effect in respect of any period beginning on or after 1st December 1973.

7

These Regulations shall extend to Northern Ireland, the Isle of Man and the Channel Islands.

Signed

Given under the official seal of the Minister for the Civil Service on 23rd May 1974.

Robert Sheldon — Minister of State — Civil Service Department

Explanatory note

EXPLANATORY NOTE

These Regulations apply the Pensions (Increase) Act 1974 to pensions payable by the trustees of a trustee savings bank or by the Inspection Committee of trustee savings banks. Such pensions which begin after 1st January 1973 qualify for the special pensions increases under the 1974 Act. The Regulations specify those pensions which are payable in respect of service as an officer of the Inspection Committee or of a trustee savings bank in a grade which suffered deferment of a pay increase in consequence of the Counter-Inflation (Temporary Provisions) Act 1972 during the period 6th November 1972 to 31st March 1973; these pensions will consequently be increased in accordance with Part 1 of the Schedule to the 1974 Act. All other pensions payable by the trustees of a trustee savings bank will be increased in accordance with Part II of the Schedule to the 1974 Act.

The Regulations also specify the “relevant date”—the date of the principal pay increase made during the year ending 6th November 1974—for the grades concerned.

Under the powers of section 4(3)(a) of the 1974 Act the Regulations provide for increases payable by virtue of the Regulations to take effect from 1st December 1973.