Page 50 - Group Insurance and Retirement Benefit IC 83 E- Book

throughout service. The modification is compulsory for new entrants after 1948. Persons

previously contributing could elect to have the regulations applied to them as regards the
reduction in future contributions, but with the reduction in benefit, restricted to future

service, assessed with regard to their age at the time of election, AJ 2
18 The Development of Public Superannuation Schemes instead of the normal £1.

14s.0d.; in practice a negligible proportion of those eligible opted for the modified
scheme.

Under all modified schemes there is provision for a consequential modification of

transfer values.

(j) Pennons (Increase) Acts

For contributors on the active list, the general wartime and post-war increases in salaries

and wages are reflected in increased averages on which benefits are calculated, although

the full effect will not be felt until stable conditions have obtained throughout the period
over which the average is assessed. For persons already retired, there is normally no

means whereby the pension could be increased to offset the rise in the cost of living. To
overcome this position, there has been a series of Pensions (Increase) Acts, those of 1944

and 1947 being now current. These authorize increases of pension, commencing at 40 %
and decreasing to nil when the total income exceeds £450 a year. For this purpose,

stability is assumed to have been reached in 1947, and where the pensionable average is

assessed over a period ending after that date, the increase is restricted to the pre-1947
remuneration.

APPENDIX II
Outline of the main features of principal schemes applicable to special classes of public

servants, where maximum pension can be secured after 30 years' service Introductory.

The following classes will be considered:
(a) Police.

(b) Firemen.
(c) Mental health officers.

(d) Prison officers.

{Note: As under Appendix I, National Insurance modifications and the