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S.I. No. 625/2011 - Private Residential Tenancies Board Superannuation Scheme 2011.
Table of Provisions (20)
Statutory Text (20 Articles)
1. SHORT TITLE
This Scheme may be cited as the Private Residential Tenancies Board Superannuation Scheme 2011.
2. COMMENCEMENT
The Scheme will commence with effect from the 1st day of September 2004, which shall be known as the date of commencement
3. 20 “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. 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. 8
Net pensionable remuneration
“Net pensionable remuneration” means the amount by which pensionable remuneration exceeds twice the annual maximum personal rate of State Pension (Contributory) payable on the last day of pensionable service to a person who has no adult dependant or qualified children.
6.
PENSIONABLE SERVICE
6. 3 The maximum service reckonable for benefits under this Scheme is 40 years, subject in the case of—
(
a
) employees who have retained an entitlement to benefit under the provisions of paragraph 7.1,
(
b
) employees whose pensions were suspended under the provisions of 13.3,
(
c
) employees whose pensions were suspended under the provision of paragraph 13.5, and
(
d
) employees with an entitlement to benefits payable from any pension scheme wholly or partly funded out of moneys provided by the Oireachtas or from the Central Fund or the growing produce of that Fund.
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. 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 Public Expenditure and Reform,
his or her contributions shall be returned to him or her less an amount equal to any income tax liability by the Board in respect of such contributions.
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 Board 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 Public Expenditure and Reform.
12. 4 An actuarial revaluation of the Scheme may be carried out from time to time if the Board so decides and the Board retains the right to vary the contributions payable by the members.
13. 5 If a member was awarded a pension and lump sum on retirement in accordance with the terms of Department of Public Expenditure and Reform 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 Board.
14. 2 The Board 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 Board or the State, in order to make good such a loss.
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 Board 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 Board thinks fit, and the Board shall be discharged from all liability in respect of any sum so paid.
17. 2 Where a member’s employment with the Board 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 Public Expenditure and Reform had been obtained, which is payable to or in respect of him or her on such cesser, other than under this Scheme, by the Board or under any arrangement (whether by way of insurance or otherwise) to which the Board has contributed.
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 Board 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 Board 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 Public Expenditure and Reform 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 Board 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 Public Expenditure and Reform 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 Private Residential Tenancies Board,
17 November 2011.
ORLA COYNE,
Chairperson.
The Minister for the Environment, Community and Local Government hereby approves of the above Scheme.
24 November 2011.
PHIL HOGAN,
Minister for Environment, Community and Local Government.
The Minister for Public Expenditure and Reform hereby consents to the giving of the above approval.
29 November 2011.
BRENDAN HOWLIN,
Minister for Public Expenditure and Reform.