Trust Deed & Rules

The Scheme was established on 29 December 1994 under a Trust Deed and Rules.

A copy of the Trust Deed and Rules can be found here.

There have been a series of amendments to the Trust Deed and Rules, which should be read in conjunction with the original Trust deed and Rules. Each Amendment is summarised below with a corresponding link to the actual Resolution.

UK Coal Sections

With effect from 29 December 2011, there is a separate modified benefit structure applicable to all contributing members of the IWCSSS UK Coal sections from 29 December 2011. There is therefore a separate appendix to the main Trust Deed & Rules which applies solely to the calculation of benefits within the UK Coal sections from 29 December 2011. This is the Appendix VII: Modified Rules for the UK Coal Section introduced as amendment RA4/2011 – see below.

AmendmentDescriptionEffective date
RA1/1999

Amendment to definition of Earnings in Clause 50

To allow for profit related pay03/02/2000
RA1/2003

Amendment to Clauses: 46, 7, 11, 12, 13, 48, 49

Power of amendment is clarified;

Introduction of Associated Fund;

Different investment strategies can be adopted for different employers

29/08/2003
RA2/2003

Inclusion of new Rule 69

With effect from 1 December 2000 pension sharing on divorce.Approved into the Rules 15/04/2003
RA3/2003

Amendment to Clauses 29,32,34,35 and 36

AGM to be held only if minimum of 25 members express an interest.29/08/2003
RA4/2003

Amendment to Rule 56 & Rule 66

Allow interest to be paid on late payment of benefits.
Clarification of procedure for appeal against SMA decision.
29/08/2003
RA1/2005

Amendments to and clarification of Clause 47 of the Trust Deed

Changes to the indemnity provisions22/07/2005
RA2/2005

Amendment to Rule 29 (1) (c )

To provide that the Committee shall have discretion to pay pensions to the financial dependants of certain former contributors who die without leaving a widow.  22/07/2005
RA1/2006

Occupational Pension Schemes (Modification of Schemes) Regulations 2006

With effect on and from 6 April 2006:

  • to achieve the same effect as all of the modifications in regulations 3 to 8 of the Registered Pension Schemes (Modification of the Rules of Existing Schemes) Regulations 2006 but disregarding any limitation to the transitional period (as defined in regulation 1(2) of the Modification Regulations); and
  • to amend the Trust Deed and Rules so that the Registered Pension Schemes (Modification of the Rules of Existing Schemes) Regulations 2006 no longer apply in relation to the Scheme.
09/01/2007
RA1/2006

Civil Partnership Act 2004 changes

to modify the Scheme with effect on and from 6 April 2006 so that on a member’s death and to the extent necessary to satisfy the relevant requirements of the Civil Partnership Act 2004:

  •  a surviving civil partner is to be treated in the same way as a widow or widower; and
  •  the rights of any other survivor of the member are to be determined as if the surviving civil partner were a widow or widower
09/01/2007
RA1/2006

Finance Act changes

to give the Committee discretion to allow a member of the AVC Scheme (as defined in the Trust Deed and Rules) on drawing their benefits under the Scheme to elect to commute up to 25% of his or her AVC Interest (as defined in the Trust Deed and Rules) for a lump sum payment on such basis as the Committee directs, and to confirm that the current limit on member contributions to the Scheme will be retained.   09/01/2007
RA1/2006 Occupational Pension Schemes (Employer Debt) Regulations 2005to amend the Scheme to ensure that it is held to be a sectionalised scheme in accordance with regulation 8 (“Regulation 8”) of the Occupational Pension Schemes (Employer Debt) Regulations 2005.  09/01/2007
RA1/2007

Employment Equality (Age) Regulations 2006

The effect of this amendment will be to level down benefits from 29 January 200729/01/2007
RA2/2007

Exercise of employer discretion – definition of employer

Discretionary powers under the Trust Deed and Rules exercisable by a member’s Employer may be exercised, in the absence of the member’s last Employer, by the current participating Employer in the member’s sub-fund21/02/2007
RA2/2007

AVC Scheme – as defined in Rule 5 (2)(a)

To allow members who have paid AVCs to commute all their AVC fund for cash.21/02/2007
RA2/2007

Cash Commutation

To commute a greater proportion of pension as long as such payments do not constitute Unauthorised Payments as defined in the Finance act 2004.21/02/2007
RA2/2007

DIS Lump Sum & Reduction for BCSSS death Benefits – Rule 27

To clarify that any lump sum death benefit payable to a dependant is only offset by the lump sum payable from the BCSSS, where the BCSSS lump sum benefit is due as a right to the dependant and not as a result of the dependant exercising their right to commute the dependant’s pension21/02/2007
RA3/2007

Flexible Retirement

To allow members to draw their benefits whilst remaining in eligible employment, at any time on or after reaching age 60 onwards on the basis that having exercised the option to draw benefits the member would not have the right to accrue further Scheme benefits and lose death in service rights.The amendment allows for early retirement from age 50 (55 from 2010) from active or deferred status with employer consent required in both cases.

The benefits are reduced for early payment on a cost neutral basis.

12/09/2007
RA1/2008

Managing conflict

New clause 47A to include a provision to allow trustees to withhold confidential information from the Committee.02/06/2008
RA2/2008

Retention of Inland Revenue 15% Limit on Member Contributions

To change the Scheme Rules to remove the 15% restriction on member contributions in so far as it applied to AVCs.02/06/2008
RA3/2008

Salary Sacrifice proposal from UK Coal

Amend the Scheme Rules for the UK Coal Mining section to allow UK Coal to introduce a salary sacrifice arrangement.16/03/2009
RA1/2009

Levelling option provision

Withdrawal of the levelling option provision for all future awards.22/09/2009
RA2/2009

Substitution of employer

Amend the Scheme Rules so that where an Employer ceases to be an Employer in accordance with clause 49 of the Trust Deed, a further option is introduced allowing the exiting Employer to be replaced with a new Employer so that the relevant part of the Scheme may be continued with contributions being paid by the replacement Employer.13/10/2009
RA1/2010

Investing in derivatives

Amend the Trust Deed to include an express power for the Trustees to hold derivatives.24/02/2010
RA2/2010

Employment Equality (Age) Regulations 2006

Age Discrimination compliance

Various minor changes to the Trust Deed and Rules to ensure compliance with the Age Discrimination Regulations.2/6/2010
RA1/2011

Resolution in accordance with S251 PA04

Formally pass the resolution to preserve the COM’s powers to make payments under certain circumstances to employers.2/03/2011

 

RA2/2011

Power to make scheme apportionment arrangements and overpayment of benefits.

Amend the Trust Deed to allow the Trustees to enter into scheme apportionment arrangements and to implement a specific apportionment relating to the TES Bretby section.

Amendment to allow an express power with retrospective effect to offset past overpayments of benefit against future instalments via new Rule 62A.

16/12/2011
RA3/2011

CPL section only – Definition of Pensionable Salary

To amend the Rules in relation to the CPL section regarding the definition of Salary for certain Contributors whose benefits shall not be less than an underpin pension.Effective 7/7/11

30/08/2011

RA4/2011

UK Coal Operations section only

Introduction of modified benefit structure for contributing members from 29 December 2011.29/12/2011
RA1/2012

Internal Transfers

Removal of the requirement within the Trust Deed for the Committee to consult with the Co-ordinator about the basis for the calculation of an Internal Transfer Payment.06/03/2012
RA2/2012

UK Coal Operations section only

Clarification of the revaluation methods for valuation of the Underpin pension25/07/2012
RA3/2012

UK Coal Operations section only

Tidying-up of minor drafting anomalies around the calculation of the Underpin Uplift and certain management bonuses.06/12/2012
RA4/2012

UK Coal Operations section only

Applies to the UK Coal Operations section. The Trustees, in exercise of their powers under Section 229 (2) of the Pensions Act 2004, resolved to modify the future accrual of benefits in the UK Coal Operations section so as to be provided on the basis new Modified Accrual benefit structure as set out in Appendix VII to the Trust Deed.07/12/2012
RA1/2013

General Meetings

Amended the certain provisions relating to arrangements for General Meetings, in particular concerning proxy voting and quorum arrangements for EGMs.01/06/2013
RA2/2013

UK Coal sections

The Trustees, in exercise of their powers under Section 229 (2) of the Pensions Act 2004, resolved to modify the future accrual of benefits in the UK Coal sections so as to be provided on the basis new Modified Accrual benefit structure as set out in Appendix VII to the Trust Deed.09/07/2013
RA3/2013

Co-ordinator Expenses

Allows the reasonable and agreed administration costs of the Co-ordinator Company to be paid by the Scheme and recharged to the employers through the Expenses Fund.29/11/2013
RA4/2013

UK Coal Operations and Scottish Coal sections

The amendments allowed Members of the Scottish Coal and the UK Coal Operations Limited Employer Sections who elect during a PPF Assessment Period to commute all or part of their pension for a lump sum payment on the basis for commutation most recently adopted by the Board of the PPF under PA04 Schedule 7 paragraph 24.25/06/2013
RA5/2013

UK Coal Operations section

An amendment to allow members of the UK Operations section to take benefits early [from age 55] on an actuarially reduced basis whilst remaining in Eligible Employment within one of the new UK Coal sections.30/11/2013
RA1/2014

AVC/DC Benefits

To allow members to transfer their AVC Scheme under Rule 6 of an earlier employer to the AVC Scheme of a later employer.  Additionally, DC members under Appendix VII Modified Rules for the UK Coal sections may opt to transfer the value of their Retirement Account relating to service with one employer to their Retirement Account in the DC section of a later employer.

 

18/06/2014
RA2/2014

Civil Partnership Act and the Marriage (Same Sex Couples) Act 2013

To comply with the Civil Partnership Act and the Marriage (Same Sex Couples) Act 2013 and thereby provide surviving civil partners with the same benefits as surviving opposite sex spouses, and surviving same sex spouses with the same benefits as surviving opposite sex spouses.22/09/2014
RA3/2014

Trivial commutation

To allow members the option where the value of any pension payable under the Scheme meets the conditions to be treated as a Trivial Pension, such pension may be commuted immediately in accordance with the Finance Act 2004 for a single cash sum.22/09/2014
RA1/2015

Aon Risk section

Equalisation and conversion of members’ GMP entitlement as allowed under the Pension Schemes Act (1993)27/02/2015
RA2/2015

Changes to definition of “Associated Employer” and Rule 49

Changes to definition of “Associated Employer” and Rule 49 to extend Rule 49(1) to expressly permit the admission of new members on special non-contributory terms.05/05/2015
RA3/2015

Transfers-out

To reflect in the Trust Deed & Rules the changes from 6 April 2015 regarding members’ statutory rights to transfer out accrued rights particularly in respect of AVC/DC benefits.  Members now have a statutory right to transfer their AVC fund independently of their main Scheme benefits and at any point up to retirement.  The amendment also included the provision to allow the Trustees to withhold a transfer out payment if it has not been possible to carry out the Independent Advice Check or it has but it did not confirm that the member had received appropriate independent advice.Effective 6/4/15
RA4/2015

Adoption of PPF Commutation Factors

 

To allow a member of an Employer’s section who wishes to commute some of his pension for a cash sum under Rule 14(4) where that Employer’s section is in a PPF Assessment period, the PPF’s basis of commutation will not apply and the basis otherwise specified in Rule 22(3) will continue to apply.11/11/2015
RA1/2017

Introduction of DC Section to the Mines Rescue Service Section of the Scheme

 

To establish a trust-based defined contribution (DC) section within the Mines Rescue Service (MRS) section on 30 March 2017. All active contributing members in the MRS section as at 29 March 2017 began to accrue benefits from 30 March 2017 on a DC basis.29/03/2017
RA2/2017

Cessation of Contracting-Out

 

Following changes to the State Second Pension in April 2016, the Amendment ensures the Rules reflect current practice regrading interaction with State Pensions. There is no change to IWCSSS benefits.06/04/2016
RA3/2017

Changes to Annual General Meetings

 

Changes to Clause 29 to enable an Annual General Meeting need only be called if and when the Committee decides.
Changes to Clauses 34 & 39 to amend the provisions governing proxies at General Meetings.
02/03/2017
RA4/2017

Expenses

 

Changes to the way in which certain Scheme expenses are paid.02/03/2017
RA1/2018

Closure of Scheme to New Members

 

On and from 31 March 2019, no person may be admitted to membership of the Scheme unless they are already a member.
Changes to Rule 48 so that a member who is in receipt of a pension may commence employment with an Employer and earn benefits under the Scheme.

31/03/2019