(1)  For the purposes of this Part, the Parliamentary Retiring Benefits Fund established under the 1985 Act immediately before the second commencement day continues as a subfund of the Fund.

(2)  The PRB Fund is to consist of –

(a) contributions paid by members to whom this Part applies; and

(b) money paid by the Minister under this Part; and

(c) income derived from the investment of money forming part of the PRB Fund; and

(d) any estate or interest in land and any money, investments or other property of the PSRB Trust arising from its administration of the 1985 Act.

(3)  All benefits provided by this Part are to be paid from the PRB Fund.