
1 
This Order shall come into operation on 4th April 1981 and may be cited as the British Railways Pension Schemes (Unfunded Proportions) (No. 1) Order 1981.
2 
In this Order “the relevant pension obligations” has the meaning given by Section 53 of the Transport Act 1980.
3 
This Order applies to the British Railways (Wages Grades) Pension Fund.
4 
The proportion of the relevant pension obligations which has not been funded in relation to the British Railways (Wages Grades) Pension Fund is determined to be 0.1365.
5 
This Order varies all previous determinations of the proportion of relevant pension obligations which has not been funded, made by the Secretary of State in relation to the British Railways (Wages Grades) Pension Fund.
Norman Fowler
Secretary of State for Transport
6th March 1981