IE
S.I. No. 260/1988 - Great Northern Railway Company (Ireland) Pension Fund For Wages Staff (Amendment) (No. 2) Scheme (Confirmation) (No. 2) Order, 1988.
Statutory Text (4 Articles)
1. This Order may be cited as the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff (Amendment) (No. 2) Scheme (Confirmation) (No. 2) Order, 1988.
2. In this amending Scheme unless otherwise expressly stated the words and expressions used shall have the meanings assigned to them by the existing scheme.
3.
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 existing pensioner whose right to pension accrued prior to the operative date and to the personal representative of any deceased pensioner or member if the deceased's right to pension accrued or death occurred 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.
4.
Amendment of the Existing Scheme
Subject to the provisions of Article 3 of this amending Scheme, the existing Scheme shall be amended with effect on and from the operative date 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.
5.
Rate of Contribution
The Tables of Rates of Contributions inserted in the existing Scheme by Article 5 of the Schedule to
Statutory Instrument No. 321 of 1985
shall be deleted and the following Table substituted therefor with effect on and from the operative date:—
Basic Weekly Wage
Member's Weekly Contribution
£
£
Not exceeding
85.00
2.07
Not exceeding
90.00
2.22
Not exceeding
95.00
2.37
Not exceeding
100.00
2.52
Not exceeding
105.00
2.67
Not exceeding
110.00
2.82
Not exceeding
115.00
2.97
Not exceeding
120.00
3.12
Not exceeding
125.00
3.27
Not exceeding
130.00
3.42
Not exceeding
135.00
3.57
Not exceeding
140.00
3.72
Not exceeding
145.00
3.87
Not exceeding
150.00
4.02
Not exceeding
155.00
4.17
Not exceeding
160.00
4.32
Not exceeding
165.00
4.47
Not exceeding
170.00
4.62
Not exceeding
175.00
4.77
Not exceeding
180.00
4.92
Exceeding
180.00
5.07
6.
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 as inserted by Article 6 of the Schedule to Statutory Instruments No. 321 of 1985 in respect of any pension the right to which accrues on or after the operative date.
TABLE A
Basic Weekly Wage
WEEKLY PENSIONS
Total Payments
Alternative Rate
For Life
For 5 Years (Age 65 to 70)
Thereafter For Life
(1)
(2)
(3)
(4)
(5)
£
£
£
£
£
Members other than Particular Female Members—
Not exceeding
85.00
16.50
16.93
16.18
4,290.00
Not exceeding
90.00
17.50
17.93
17.18
4,550.00
Not exceeding
95.00
18.50
18.93
18.18
4,810.00
Not exceeding
100.00
19.50
19.93
19.18
5,070.00
Not exceeding
105.00
20.50
20.93
20.18
5,330.00
Not exceeding
110.00
21.50
21.93
21.18
5,590.00
Not exceeding
115.00
22.50
22.93
22.18
5,850.00
Not exceeding
120.00
23.50
23.93
23.18
6,110.00
Not exceeding
125.00
24.50
24.93
24.18
6,370.00
Not exceeding
130.00
25.50
25.93
25.18
6,630.00
Not exceeding
135.00
26.50
26.93
26.18
6,890.00
Not exceeding
140.00
27.50
27.93
27.18
7,150.00
Not exceeding
145.00
28.50
28.93
28.18
7,410.00
Not exceeding
150.00
29.50
29.93
29.18
7,670.00
Not exceeding
155.00
30.50
30.93
30.18
7,930.00
Not exceeding
160.00
31.50
31.93
31.18
8,190.00
Not exceeding
165.00
32.50
32.93
32.18
8,450.00
Not exceeding
170.00
33.50
33.93
33.18
8,710.00
Not exceeding
175.00
34.50
34.93
34.18
8,970.00
Not exceeding
180.00
35.50
35.93
35.18
9,230.00
Exceeding
180.00
36.50
36.93
36.18
9,490.00
For 10 years (Age 60 to 70)
Thereafter For Life
Particular Female Members—
Not exceeding
85.00
11.07
11.22
10.85
2,878.00
Not exceeding
90.00
11.75
11.90
11.53
3,055.00
Not exceeding
95.00
12.42
12.57
12.20
3,229.00
Not exceeding
100.00
13.10
13.25
12.88
3,406.00
Not exceeding
105.00
13.77
13.92
13.55
3,580.00
Not exceeding
110.00
14.45
14.60
14.23
3,757.00
Not exceeding
115.00
15.12
15.27
14.90
3,931.00
Not exceeding
120.00
15.80
15.95
15.58
4,108.00
Not exceeding
125.00
16.47
16.62
16.25
4,282.00
Not exceeding
130.00
17.15
17.30
16.93
4,459.00
Not exceeding
135.00
17.82
17.97
17.60
4,633.00
Not exceeding
140.00
18.50
18,65
18.28
4,810.00
Not exceeding
145.00
19.17
19.32
18.95
4,984.00
Not exceeding
150.00
19.85
20.00
19.63
5,161.00
Not exceeding
155.00
20.52
20.67
20.30
5,335.00
Not exceeding
160.00
21.20
21.35
20.98
5,512.00
Not exceeding
165.00
21.87
22.02
21.65
5,686.00
Not exceeding
170.00
22.55
22.70
22.33
5,863.00
Not exceeding
175.00
23.22
23.37
23.00
6,037.00
Not exceeding
180.00
23.90
24.05
23.68
6,214.00
Exceeding
180.00
24.57
24.72
24.35
6,388.00
GIVEN under my Official Seal, this 22nd day of September, 1988.
JOHN P. WILSON,
Minister for Tourism and Transport.
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.
3. The amending Scheme is hereby confirmed and shall be deemed to have come into operation on the 1st day of October, 1987.
SCHEDULE
GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND FOR WAGES STAFF (AMENDMENT) (NO. 2) SCHEME, 1988.
1.
Definitions
In this amending Scheme the following words and expressions shall have the meanings hereby assigned to them unless there is something in the subject matter or context repugnant to such construction:—
"the existing Scheme" means the Great Northern Railway
Company (Ireland) Pension Fund for Wages Staff as amended by the amending Schemes confirmed by Statutory Instruments numbered 53 of 1962, 50 of 1965, 9 of 1967, 60 of 1969, 81 of 1971, 251 of 1974, 291 of 1977, 76 of 1980, 183 of 1982, 290 of 1985, 321 of 1985, 54 of 1987 and 195 of 1988.
"the operative date" means the 1st day of October, 1987.
S.I. No. 260 of 1988.
GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND FOR WAGES STAFF (AMENDMENT) (No. 2) SCHEME (CONFIRMATION) (No. 2) ORDER, 1988.
I, JOHN P. WILSON, Minister for Tourism and Transport, in exercise of the powers conferred on me by
section 44
of the
Transport Act, 1950
(No. 12 of 1950), as applied by
section 15
of the
Great Northern Railway Act, 1958
(No. 20 of 1958), and the Communications (Transfer of Departmental Administration and Ministerial Functions) (No. 2) Order, 1987 (
S.I. No. 92 of 1987
), hereby, after consultation with the Minister for Finance, order as follows