diff --git a/src/saveload/waypoint_sl.cpp b/src/saveload/waypoint_sl.cpp
--- a/src/saveload/waypoint_sl.cpp
+++ b/src/saveload/waypoint_sl.cpp
@@ -10,6 +10,7 @@
 #include "table/strings.h"
 
 #include "saveload.h"
+#include "saveload_internal.h"
 
 /**
  * Update waypoint graphics id against saved GRFID/localidx.
@@ -34,39 +35,25 @@ void AfterLoadWaypoints()
 	}
 }
 
-/**
- * Fix savegames which stored waypoints in their old format
- */
-void FixOldWaypoints()
-{
-	Waypoint *wp;
-
-	/* Convert the old 'town_or_string', to 'string' / 'town' / 'town_cn' */
-	FOR_ALL_WAYPOINTS(wp) {
-		wp->town_index = ClosestTownFromTile(wp->xy, UINT_MAX)->index;
-		wp->town_cn = 0;
-		if ((wp->string_id & 0xC000) == 0xC000) {
-			wp->town_cn = (wp->string_id >> 8) & 0x3F;
-			wp->string_id = STR_NULL;
-		}
-	}
-}
+static uint16 _waypoint_town_index;
+static StringID _waypoint_string_id;
 
 static const SaveLoad _waypoint_desc[] = {
-	SLE_CONDVAR(Waypoint, xy,            SLE_FILE_U16 | SLE_VAR_U32,  0, 5),
-	SLE_CONDVAR(Waypoint, xy,            SLE_UINT32,                  6, SL_MAX_VERSION),
-	SLE_CONDVAR(Waypoint, town_index,    SLE_UINT16,                 12, SL_MAX_VERSION),
-	SLE_CONDVAR(Waypoint, town_cn,       SLE_FILE_U8 | SLE_VAR_U16,  12, 88),
-	SLE_CONDVAR(Waypoint, town_cn,       SLE_UINT16,                 89, SL_MAX_VERSION),
-	SLE_CONDVAR(Waypoint, string_id,     SLE_STRINGID,                0, 83),
-	SLE_CONDSTR(Waypoint, name,          SLE_STR, 0,                 84, SL_MAX_VERSION),
-	    SLE_VAR(Waypoint, delete_ctr,    SLE_UINT8),
+	 SLE_CONDVAR(Waypoint, xy,            SLE_FILE_U16 | SLE_VAR_U32,  0, 5),
+	 SLE_CONDVAR(Waypoint, xy,            SLE_UINT32,                  6, SL_MAX_VERSION),
+	SLEG_CONDVAR(_waypoint_town_index,    SLE_UINT16,                 12, 121),
+	 SLE_CONDREF(Waypoint, town,          REF_TOWN,                  122, SL_MAX_VERSION),
+	 SLE_CONDVAR(Waypoint, town_cn,       SLE_FILE_U8 | SLE_VAR_U16,  12, 88),
+	 SLE_CONDVAR(Waypoint, town_cn,       SLE_UINT16,                 89, SL_MAX_VERSION),
+	SLEG_CONDVAR(_waypoint_string_id,     SLE_STRINGID,                0, 83),
+	 SLE_CONDSTR(Waypoint, name,          SLE_STR, 0,                 84, SL_MAX_VERSION),
+	     SLE_VAR(Waypoint, delete_ctr,    SLE_UINT8),
 
-	SLE_CONDVAR(Waypoint, build_date,    SLE_FILE_U16 | SLE_VAR_I32,  3, 30),
-	SLE_CONDVAR(Waypoint, build_date,    SLE_INT32,                  31, SL_MAX_VERSION),
-	SLE_CONDVAR(Waypoint, spec.localidx, SLE_UINT8,                   3, SL_MAX_VERSION),
-	SLE_CONDVAR(Waypoint, spec.grfid,    SLE_UINT32,                 17, SL_MAX_VERSION),
-	SLE_CONDVAR(Waypoint, owner,         SLE_UINT8,                 101, SL_MAX_VERSION),
+	 SLE_CONDVAR(Waypoint, build_date,    SLE_FILE_U16 | SLE_VAR_I32,  3, 30),
+	 SLE_CONDVAR(Waypoint, build_date,    SLE_INT32,                  31, SL_MAX_VERSION),
+	 SLE_CONDVAR(Waypoint, spec.localidx, SLE_UINT8,                   3, SL_MAX_VERSION),
+	 SLE_CONDVAR(Waypoint, spec.grfid,    SLE_UINT32,                 17, SL_MAX_VERSION),
+	 SLE_CONDVAR(Waypoint, owner,         SLE_UINT8,                 101, SL_MAX_VERSION),
 
 	SLE_END()
 };
@@ -86,11 +73,38 @@ static void Load_WAYP()
 	int index;
 
 	while ((index = SlIterateArray()) != -1) {
+		_waypoint_string_id = 0;
+		_waypoint_town_index = 0;
+
 		Waypoint *wp = new (index) Waypoint();
 		SlObject(wp, _waypoint_desc);
+
+		if (CheckSavegameVersion(84)) wp->name = (char *)(size_t)_waypoint_string_id;
+		if (CheckSavegameVersion(122)) wp->town = (Town *)(size_t)_waypoint_town_index;
+	}
+}
+
+static void Ptrs_WAYP()
+{
+	Waypoint *wp;
+
+	FOR_ALL_WAYPOINTS(wp) {
+		SlObject(wp, _waypoint_desc);
+
+		StringID sid = (StringID)(size_t)wp->name;
+		if (CheckSavegameVersion(12)) {
+			wp->town_cn = (sid & 0xC000) == 0xC000 ? (sid >> 8) & 0x3F : 0;
+			wp->town = ClosestTownFromTile(wp->xy, UINT_MAX);
+		} else if (CheckSavegameVersion(122)) {
+			/* Only for versions 12 .. 122 */
+			wp->town = Town::Get((size_t)wp->town);
+		}
+		if (CheckSavegameVersion(84)) {
+			wp->name = CopyFromOldName(sid);
+		}
 	}
 }
 
 extern const ChunkHandler _waypoint_chunk_handlers[] = {
-	{ 'CHKP', Save_WAYP, Load_WAYP, NULL, CH_ARRAY | CH_LAST},
+	{ 'CHKP', Save_WAYP, Load_WAYP, Ptrs_WAYP, CH_ARRAY | CH_LAST},
 };