S.I. No. 252/1974 - Córas Iompair Éireann Amending Superannuation Scheme For Regular Wages Staff (Confirmation) Order 1974.

1. This Order may be cited as the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1974.

2. In this Order "the amending scheme" means the scheme (amending the Córas Iompair Éireann Pension Scheme for Regular Wages Staff) resubmitted by Córas Iompair Éireann under

sections 44

(2) and

44

(5) of the

Transport Act, 1950

.

3. The amending scheme (a copy of which is set out in the Schedule to this Order) is hereby confirmed and shall be deemed to have come into operation on the 31st day of July, 1974.

SCHEDULE

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF AMENDING SCHEME 1974.

1.

Definitions

In this amending Scheme "the existing Scheme" means the Córas Iompair Éireann Pension Scheme for Regular Wages Staff confirmed by the Córas Iompair Éireann Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1945, (S. R. & O., No. 242 of 1945) as amended by (

a

) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1949, (

S.I. No. 115 of 1949

) (b) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1955, (

S.I. No. 34 of 1955

) (c) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1957, (

S.I. No. 226 of 1957

) (d) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1961, (

S.I. No. 56 of 1961

) (e) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1965, (

S.I. No. 48 of 1965

) (f) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1967, (

S.I. No. 7 of 1967

) (g) the Córas Iompair Éireann Pension Scheme for Regular Wages Staff Amending Scheme (Confirmation) Order, 1969, (

S.I. No. 58 of 1969

) and (h) the Córas Iompair Éireann Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1971, (

S.I. No. 77 of 1971

).

The term "operative date" means the 31st day of July, 1974.

2.

Continuance of the existing Scheme

(1) The benefits provided by the existing Scheme shall continue to be paid or be payable under and in accordance with the terms thereof and without alteration to every pensioner whose right to pension accrued prior to the operative date and to the personal representative of any deceased pensioner if the deceased's right to pension accrued prior to the operative date.

(2) Nothing in this amending Scheme shall affect the rights of any of the persons mentioned in the previous sub-article, nor shall this amending Scheme affect any subsisting right or liability accrued to or incurred by any person under the existing Scheme prior to the operative date.

(3) Deferred and special pensions now payable or at any time to become payable shall not be affected by this amending Scheme.

3.

Amendment of the existing Scheme

(1) Subject to the provisions of Article 2 of this amending Scheme, the existing Scheme shall be amended so as to conform to the provisions hereinafter contained, and every provision of the existing Scheme which is inconsistent with the provisions hereinafter contained shall cease to have effect.

(2) The increased contributions and benefits provided for by this amending Scheme are, where applicable, in substitution for the corresponding contributions and benefits provided for by the existing Scheme.

4.

Rate of Contribution

As from the operative date members shall contribute to this Scheme by payment into the Fund at the following rates:—

Basic Weekly Wage of Members

Members Weekly Contributions

Males

£

Not exceeding £9·75

0·20

Exceeding £9·75 but not exceeding £10·75

0·25

Exceeding £10·75 but not exceeding £11·75

0·30

Exceeding £11·75 but not exceeding £14·75

0·35

Exceeding £14·75 but not exceeding £15·75

0·40

Exceeding £15·75 but not exceeding £24·00

0·45

Exceeding £24·00 but not exceeding £25·50

0·53

Exceeding £25·50 but not exceeding £27·00

0·61

Exceeding £27·00

0·72

Females

Not exceeding £6·00

0·08

Exceeding £6·00 but not exceeding £7·00

0·12

Exceeding £7·00 but not exceeding £11·75

0·17

Exceeding £11·75

0·25

5.

Full Pension

The full pensions (including alternative full pension) and the total payments set out in Table A hereunder shall be substituted for the like pensions and total payments set out in Table A of the existing Scheme in respect of any pension (other than a deferred or special pension) first becoming payable on or after the operative date.

TABLE A.

Males

Weekly Pension

Total Payments

Alternative Rate

Basic Weekly Wage

For Life

For 5 years age 65 to 70

Thereafter for Life

1.

2.

3.

4.

5.

£

£

£

£

Not exceeding £9·75

2·50

2·93

2·18

650

Exceeding £9·75 and not exceeding £10·75

3·00

3·43

2·68

780

Exceeding £10·75 and not exceeding £11·75

3·50

3·93

3·18

910

Exceeding £11·75 and not exceeding £14·75

4·00

4·43

3·68

1,040

Exceeding £14·75 and not exceeding £15·75

4·50

4·93

4·18

1,170

Exceeding £15·75 and not exceeding £24·00

5·00

5·43

4·68

1,300

Exceeding £24·00 and not exceeding £25·50

5·75

6·18

5·43

1,495

Exceeding £25·50 and not exceeding £27·00

6·50

6·93

6·18

1,690

Exceeding £27·00

7·50

7·93

7·18

1,950

Females

Weekly Pension

Total Payments

Alternative Rates

Basic Weekly Wage

For Life

For 10 years age 60 to 70

Thereafter for Life

1.

2.

3.

4.

5.

£

£

£

£

Not exceeding £6·00

1·00

1·15

0·78

260

Exceeding £6·00 and not exceeding £7·00

1·50

1·65

1·28

390

Exceeding £7·00 and not exceeding £11·75

2·00

2·15

1·78

520

Exceeding £11·75

2·75

2·90

2·53

715

GIVEN under my Official Seal this 6th day of August, 1974.

PETER BARRY,

Minister for Transport and

Power.

EXPLANATORY NOTE

The purpose of the Order is to confirm a scheme to amend the existing pension scheme so as to provide for increased pensions for certain members of the scheme.

WHEREAS by the Córas Iompair Éireann Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1945, (S.R. & O., No. 242 of 1945), made under

section 44

(2) of the

Transport Act, 1944

(No. 21 of 1944), the Córas Iompair Éireann Pension Scheme for Regular Wages Staff (a copy whereof is set out in the Schedule to the said Order) was confirmed

AND WHEREAS Córas Iompair Éireann has, in pursuance of

section 44

(5) of the

Transport Act, 1950

, (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 (No. 125 of 1959), submitted to the Minister for Transport and Power a scheme (in these Recitals referred to as the amending scheme) amending the said Córas Iompair Éireann Pension Scheme for Regular Wages Staff

AND WHEREAS the said Minister proposes to confirm the amending scheme

AND WHEREAS by virtue of

section 44

(8) of the

Transport Act, 1950

, a superannuation scheme confirmed under

section 44

of the

Transport Act, 1944

, is deemed to be a superannuation scheme confirmed under

section 44

of the

Transport Act, 1950

NOW, I, PETER BARRY, Minister for Transport and Power, in exercise of the powers conferred on me by

sections 44

(4) and

44

(5) of the

Transport Act, 1950

, (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959, (No. 125 of 1959), hereby, after consultation with the Minister for Finance, order as follows