S.I. No. 212/1989:

CÓRAS IOMPAIR ÉIREANN SUPERANNUATION SCHEME, 1951 (AMENDMENT) (NO. 2) SCHEME (CONFIRMATION) (No. 2) ORDER, 1989.

CÓRAS IOMPAIR ÉIREANN SUPERANNUATION SCHEME, 1951 (AMENDMENT) (NO. 2) SCHEME (CONFIRMATION) (No. 2) ORDER, 1989.

I, SÉAMUS BRENNAN, 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) 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:

1. This Order may be cited as the Córas Iompair Éireann Superannuation Scheme, 1951 (Amendment) (No. 2) Scheme (Confirmation) (No. 2) Order, 1989.

2. In this Order "the amending Scheme" means the Scheme amending the Córas Iompair Éireann Superannuation Scheme, 1951, prepared by Córas Iompair Éireann and submitted to the Minister for Tourism and Transport 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 1st day of January, 1973.

SCHEDULE.

CÓRAS IOMPAIR ÉIREANN SUPERANNUATION SCHEME, 1951 (AMENDMENT) (NO. 2) SCHEME, 1989.

1. Interpretation:

In this Amending Scheme the following words and expressions shall have the meanings hereby assigned to them unless there is something inconsistent in the subject matter or the context repugnant to such construction:--

"the existing Scheme" means the CIE Superannuation Scheme, 1951 set out in the Schedule to and confirmed by the Córas Iompair Éireann Superannuation Scheme, 1951 (Confirmation) Order, 1951 ( S.I. No. 353 of 1951 ) as amended be Statutory Instruments numbered 221 of 1963,80 of 1971, 254 of 1974, 47 of 1977, 126 of 1981, 245 of 1982, 345 of 1982, 287 of 1985, 58 of 1987 and 29 of 1989.

"this Scheme" means the existing Scheme as hereby amended.

"the Salaried Officers' and Clerks' (G. N. R., C. D. R. and I. R. C. H.) Superannuation Scheme" means the Superannuation Scheme set out in the Schedule to and confirmed by the Córas Iompair Éireann Salaried Officers' and Clerks' (G. N. R., C. D. R. and I. R. C. H.) Superannuation Scheme, 1977 (Confirmation) Order, 1978 ( S.I. No. 339 of 1978 ).

"Spouse's and Children's Pension" means any pension payable under the Córas Iompair Éireann Spouses' and Children's Superannuation Scheme confirmed by the Minister for Tourism and Transport and introduced by the Board with effect from the 1st day of January, 1973.

"operative date" means the 1st day of January, 1973.

2. In this amending Scheme unless otherwise expressly stated words and expressions used shall have the meanings assigned to them by the existing Scheme.

3. Amendment of the existing Scheme: (1) The Salaried Officers' and Clerks' (G. N. R., C. D. R. and I. R. C. H.) Superannuation Scheme shall be a "Special Superannuation Scheme" for the purpose of Rule 3 (1) and the definition of "Special Superannuation Scheme" in the existing Scheme is amended accordingly.

(2) The following new Rule shall be added to the existing Scheme and inserted after Rule 21D:--

"21E. Spouses' and Children's Pensions:

(1) When a Spouse's and Children's Pension becomes payable upon the death of a former member, payments then becoming payable under Clause (4) of Rule 21 and Clause (13) of Rule 21B of this Scheme shall, in so far as the Rules provide for the continuation of an annuity, be paid as a lump sum and shall be limited so that the sum of such payments together with the aggregate of any capital sum, pension or annuity payments made to the deceased former member shall not exceed the former member's pensionable salary or one-thirtieth of the said pensionable salary for each year of his pensionable membership up to forty five-thirtieths whichever shall be the greater. Pensionable membership for this purpose in the case of a member covered by Rule 29 shall be determined in the manner used for the calculation of the capital sum under sub-paragraph (i) of paragraph (a) of the said Rule 29.

If the amounts payable under Clause (4) of Rule 21 and Clause (13) of Rule 21B as limited by Clause (1) of this Rule are less than the amounts which would have been payable if no Spouse's and Children's Pension had become payable, the difference shall be paid to the fund of the CIE Spouses' and Children's Superannuation Scheme.".

(3) The following Clause shall be added to Rule 22 of the existing Scheme:--

"(5) Where a Spouse's and Children's Pension becomes payable upon the death in service of a member, if Clause (1) of this Rule applies, a lump sum equal to the then present value of five times the annuity provided for in the said Clause (1) shall be paid instead of the said annuity and the total of benefits payable under this Rule, whether the deceased member had more or less than 10 years pensionable membership, shall not exceed one year's payment of the member's pensionable salary of one-thirtieth part of such salary for each year of his pensionable membership up to a maximum of forty five-thirtieths, whichever is the greater. Pensionable membership for this purpose in the case of a member covered by Rule 29 shall be determined in the manner used for calculation of the capital sum under sub-paragraph (i) of paragraph (a) of the said Rule 29. If the total of benefits, as so limited, paid under this Rule is less than the amount which, but for this limitation, would have been paid, the difference shall be paid to the Fund of the CIE Spouses' and Children's Superannuation Scheme.".

(4) Insert in Clause (4) of Rule 21 after the words "the following provisions shall apply" and also at the end of Clause (13) of Rule 21 (B) the phrase "but subject to the limitations imposed by Rule 21E when applicable.".

(5) The following Rule shall be inserted in the Scheme to follow Rule 23:--

"23A. Whenever the application of this Scheme requires the calculation of the present value of an annuity, part of an annuity or other periodic payment, the rate of interest to be used shall be that determined by the Actuary from time to time.".

GIVEN under my Official Seal this 1st day of August, 1989.

SÉAMUS BRENNAN,

Minister for Tourism and Transport.

EXPLANATORY NOTE.

The purpose of this Order is to confirm a Scheme to amend the existing Superannuation Scheme to reflect the establishment of a full Spouses' and Children's Superannuation Scheme for CIE salaried staff including members of the existing Scheme.