Member

The closed section was the part of the scheme into which UK AEAT pre-1997 benefits had been transferred was set up with a higher contribution rate and a lower pension, so members were paying extra for unlimited RPI compensation at 1/80th of years’ service. These pension members had most service pre-1997 and were older, but they were treated the same as the open section, which had a 5% gap when transferred into the PPF. This had a strange, bizarre effect, where the protection provided to UK AEAT pensioners who were transferred to the AEAT closed scheme by the Government on privatisation has made them worse off than if no special treatment had been arranged when transferred to the PPF.