S.I. No. 288/1985:

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME (CONFIRMATION) (No. 2) ORDER, 1985.

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME (CONFIRMATION) (No. 2) ORDER, 1985.

I, JIM MITCHELL, Minister for Communications, in exercise of the powers conferred on me by section 44 of the Transport Act, 1950 (No. 12 of 1950), and the Ministers and Secretaries (Amendment) Act, 1983 (No. 40 of 1983), hereby, after consultation with the Minister for the Public Service, order as follows:

1. This Order may be cited as the Córas Iompair Éireann Pension Scheme for Regular Wages Staff (Amendment) Scheme (Confirmation) (No. 2) Order, 1985.

2. In this Order "the amending Scheme" means the scheme amending the Córas Iompair Éireann Pension Scheme for Regular Wages Staff prepared by Córas Iompair Éireann and submitted to the Minister for Communications under section 44 of the Transport Act, 1950 (No. 12 of 1950), and set out in the Schedule to this Order.

3. The amending Scheme is hereby confirmed and shall be deemed to have come into operation on the 12th day of March, 1980.

SCHEDULE

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME, 1985.

1. Definitions:

In this amending Scheme "the existing Scheme" means the Córas Iompair Éireann Pension Scheme for Regular Wages Staff confirmed by S. R. & O. No. 242 of 1945 and subsequently amended by amending schemes confirmed by Statutory Instruments numbered 115 of 1949, 34 of 1955, 226 of 1957, 56 of 1961, 48 of 1965, 7 of 1967, 58 of 1969, 77 of 1971, 252 of 1974, 288 of 1977, 74 of 1980 and 181 of 1982.

The term "the operative date" means the 12th day of March, 1980.

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. Amendment of the Existing 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.

4. Sub-articles (3) and (4) of Article 9 of the Schedule to S.I. No. 226 of 1957 shall be renumbered (4) and (5) respectively and the following new sub-article shall be inserted in the Scheme to follow sub-article (2) of the said Article 9 with effect from the operative date:

"(3) ( a ) A member having not less then ten years service whose services are dispensed with on or after the operative date and before the 17th day of January, 1987 because of redundancy arising from any scheme for the re-organisation or more economical operation of any department of the Board's undertaking he then being within ten years of reaching the normal age of retirement may, if the Board so agrees, be granted a reduced pension calculated in accordance with Article 5 of the Schedule to S.I. No. 48 of 1965 and Table A as amended.

( b ) A member having not less than ten years service whose services are dispensed with on or after the operative date and before the 17th day of January, 1987 for the cause specified in the preceding paragraph, he being then between the ages of 50 and 55 years, may, if the Board so agrees be granted a reduced pension deferred to and payable from the date on which he attains the age of 55 years, which reduced pension shall be calculated in accordance with Article 5 of the Schedule to S.I. No. 48 of 1965 and Table A as amended.

( c ) If an additional contribution to the Fund is required to meet the cost of providing a reduced pension under paragraph (a) above it shall be contributed by the member or by the Board of jointly by the member and the Board as they may agree between them.".

GIVEN under my Official Seal, this 22nd day of August, 1985.

JIM MITCHELL,

Minister for Communications.

EXPLANATORY NOTE.

The purpose of the scheme is to provide for the reduction, under certain conditions, of the retiring ages/service requirement prescribed in the existing Scheme, to allow for voluntary early entirement on redundancy.