S.I. No. 675/2010 - Affordable Homes Partnership Superannuation Scheme, 2010.

1. Short Title

2. Commencement

3. 22 “

years

” means a figure determined by the formula A + B/365 where A is the number of completed years in the period in question and B is any number of days additional to a completed year or a number of completed years in that period, and “year” shall be construed accordingly.

4.

MEMBERSHIP

4. 5 A member who is not a new entrant may not continue in membership after he or she has attained the age of 65.

5.

PENSIONABLE REMUNERATION

5. 8

Net pensionable remuneration

“Net pensionable remuneration” means the amount by which pensionable remuneration exceeds twice the annual maximum personal rate of Old Age (Contributory) Pension payable on the last day of pensionable service to a person who has no adult dependant or qualified children.

6.

PENSIONABLE SERVICE

6. 3

(

a

) For the purposes of this Scheme, “earlier service” means the service by reference to which the benefits referred to in subparagraph 6.3 (

b

) were calculated.

(

b

) The maximum service reckonable for benefits under this Scheme is 40 years, subject in the case of

(i) employees who have retained an entitlement to benefit under the provisions of paragraph 7.1

(ii) employees whose pensions were suspended under the provisions of 13.3 and

(iii) employees whose pensions were suspended under the provision of paragraph 13.5

to maximum service not exceeding the amount arrived at by the formula 40 — PBS, where PBS is the amount of the reckonable service by reference to which the original benefits, whether preserved or in payment, were calculated.

7

OPTIONAL RETENTION OF PRESERVED BENEFITS

7. 2 A member whose pension was cancelled under the provisions of 13.3 may opt for entitlement to a preserved pension based on the actual pensionable service on which the cancelled pension was based subject to payment of the preserved pension not commencing before the date on which membership of this scheme ceases.

8

BENEFITS

8. 6

Return of contributions

In the case of a member

(i) who has completed less than two years’ actual pensionable service and

(ii) whose membership ceases otherwise than on medical grounds or death and

(iii) who does not transfer his or her pensionable service under this Scheme to another organisation in accordance with arrangements approved by the Minister or the Minister for Finance

his or her contributions shall be returned to him or her less an amount equal to any income tax liability by the Partnership in respect of such contributions.

9.

RETIREMENT ON MEDICAL GROUNDS

9. 2 Where any or all of the above conditions are not met, subparagraph 8.3 or 8.4, as appropriate, shall apply in lieu of benefit under subparagraph 8.1 and/or 8.2.

10.

PAYMENT OF PENSION OR PRESERVED PENSION

Save as is otherwise provided in the Scheme, pensions and preserved pensions payable under this Scheme shall be paid monthly in arrears and shall continue throughout the life of the member.

11.

PENSIONS INCREASES

The Partnership may grant such increases in such pensions and preserved pensions under this Scheme as may be authorised from time to time by the Minister with the consent of the Minister for Finance.

12.

CONTRIBUTIONS

10. Payment of Pension or Preserved Pension

11. Pensions Increases

12. 4 An actuarial revaluation of the Scheme may be carried out from time to time if the Partnership so decides and the Partnership retains the right to vary the contributions payable by the members.

13.

EMPLOYMENT SUBSEQUENT TO RETIREMENT OR RESIGNATION

13. 5 If a member was awarded a pension and lump sum on retirement in accordance with the terms of Department of Finance Circular 12/09, no more of the pension shall be paid for any period of membership of this Scheme than so much as, with the remuneration payable during membership, equals the pay which the person would have received in respect of the period of membership if during it he or she

(

a

) held the position in which he or she served on the last day of his or her pensionable service but

(

b

) was remunerated at the rate of pay of which he or she was in receipt on that date (including the money value of apartments, rations or other perquisites in kind) subject, however, in case changes have taken place, (or, if the position has ceased to exist would have taken place if it had not ceased to exist), in that rate, to treating that rate as being varied by taking account of so much of those changes as may be specified by the Partnership.

14.

CESSER OR REDUCTION OF BENEFIT

14. 2 The Partnership may, at its discretion, reduce or cease paying a pension awarded under this Scheme if the pensioner has been guilty of misconduct involving a financial loss to the Partnership or the State, in order to make good such a loss.

15.

CONDITIONS GOVERNING AWARDS

15. 2

Proof of age

A member must submit evidence of his or her date of birth on entry into the Scheme or before any payment of benefit can be made.

16.

ASSIGNMENTS

A pension or preserved pension under this Scheme may not be assigned or charged. If the pensioner becomes incapable of giving a receipt for payments due, the Partnership shall have discretion to make such payments in whole or in part to such persons, including the authorities of any institution having care of the pensioner, as the Partnership thinks fit, and the Partnership shall be discharged from all liability in respect of any sum so paid.

17.

DUPLICATION OF BENEFIT NOT TO BE ALLOWED

16. Assignments

17. 2 Where a member’s employment with the Partnership ceases (whether on retirement, death or otherwise), benefit under this Scheme shall be reduced by reference to any sum, other than one to which the prior approval of the Minister for Finance had been obtained, which is payable to or in respect of him or her on such cesser, other than under this Scheme, by the Partnership or under any arrangement (whether by way of insurance or otherwise) to which the Partnership has contributed.

18.

CONTRIBUTIONS TO CERTAIN ORGANISATIONS

18. 2 Where under the Local Government Superannuation Code, superannuation contributions are returned by a local authority to a former member of this scheme, and the amount includes a sum in respect of contributions paid under this Scheme, the Partnership shall, in the absence of a Knock-for-Knock Agreement under the Local Government Superannuation Code, recoup such sum to the local authority.

19.

APPEALS

If a member or former member is aggrieved by the failure or refusal of the Partnership to make an award under this Scheme or by the amount of any award, including the award of pension increases, made, he or she may appeal to the Minister who shall refer the dispute to the Minister for Finance who shall, within three months of the dispute being referred to him or her, issue a determination in accordance with article 5.1 of the Pensions Ombudsman Regulations.

20.

TERMINATION OR AMENDMENT OF SCHEME

The Partnership reserves the right to amend or terminate the Scheme at any time, subject to the approval of the Minister and the consent of the Minister for Finance and subject to giving three months’ notice of impending changes to members of the Scheme. Benefits secured for a member or former member prior to the date of amendment or termination will not be affected.

GIVEN under the Seal of the Affordable Homes Partnership,

20 December 2010.

DES GERAGHTY,

Chairperson.

The Minister for the Environment, Heritage and Local Government hereby approves of the above Scheme.

22 December 2010.

JOHN GORMLEY,

Minister for the Environment, Heritage and Local Government.

The Minister for Finance hereby consents to the giving of the above approval.

31 December 2010.

BRIAN LENIHAN,

Minister for Finance.

19. Appeals

20. Termination or Amendment of Scheme

S.I. No. 675 of 2010

AFFORDABLE HOMES PARTNERSHIP SUPERANNUATION SCHEME 2010

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of

14

th January

, 2011.

The Affordable Homes Partnership, in exercise of the power conferred by articles 7(2) and 7(8) of the Affordable Homes Partnership (Establishment) Order 2005 (

S.I. No. 383 of 2005

), with the approval of the Minister for the Environment, Heritage and Local Government given with the consent of the Minister for Finance, hereby makes the following Scheme.

1.

SHORT TITLE

This Scheme may be cited as the Affordable Homes Partnership Superannuation Scheme, 2010.

2.

COMMENCEMENT

The Scheme will commence with effect from the 1st day of August 2005, which shall be known as the date of commencement.

3.

DEFINITIONS

In this Scheme save where the context otherwise requires