(1)  For the purposes of this Part, the Parliamentary Superannuation Fund, as established under the 1973 Act immediately before the second commencement day, continues as a subfund of the Fund.

(2)  The PS Fund is to consist of –

(a) the money and investments of which the former fund consists immediately before the second commencement day; and

(b) contributions paid and repayments made by members to whom this Part applies and former members under this Part; and

(c) moneys paid into the PS Fund by the Minister under this Part; and

(d) income derived from the investment of moneys forming part of the PS Fund; and

(e) any estate or interest in land and any money, investments or other property of the PSRB Trust arising from its administration of the 1973 Act.

(3)  All pensions, lump sum payments and other benefits provided by this Part (including pensions that are payable out of the PS Fund under regulation 5 ) are to be paid from the PS Fund.