427. The statutory standard.

The provisions discussed in this paragraph have been repealed1, but continue to have effect as if not so repealed in relation to a scheme that was a salary-related contracted-out scheme2 and which provides a reference scheme minimum benefit3 in order to meet the statutory standard explained below, and in relation to the period of a member's contracted-out employment4 which ended before or on the second abolition date5.

Subject to the provisions of Part III of the Pension Schemes Act 19936, the scheme must, in relation to the provision of pensions for earners7 in employed earner's8 employment9, and for their widows,