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S.I. No. 420/1992 -- Córas Iompair Éireann Pension Scheme For Regular Wages Staff (Amendment) (No. 2) Scheme (Confirmation) (No. 2) Order, 1992.

S.I. No. 420/1992 -- Córas Iompair Éireann Pension Scheme For Regular Wages Staff (Amendment) (No. 2) Scheme (Confirmation) (No. 2) Order, 1992. 1992 420

S.I. No. 420/1992:

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) (NO. 2) SCHEME (CONFIRMATION) (NO. 2) ORDER, 1992.

I, MAIRE GEOGHEGAN-QUINN, Minister for Tourism, Transport and Communications, in exercise of the powers conferred on me by Section 44 of the Transport Act, 1950 (No. 12 of 1950), as amended by the Communications (Transfer of Departmental Administration and Ministerial Functions) (No. 2) Order, 1987 ( S.I. No. 92 of 1987 ), and the Tourism and Transport (Alteration of Name of Department and Title of Minister) Order, 1991 ( S.I. No. 25 of 1991 ), hereby, after consultation with the Minister for Finance, order as follows:

1. This Order may be cited as the Córas Iompair Éireann Pension Scheme for Regular Wages Staff (Amendment) (No. 2) Scheme (Confirmation) (No. 2) Order, 1992.

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 Tourism, Transport and 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 of the 31st day of December, 1992.

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) (NO. 2) SCHEME, 1992.

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 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, 181 of 1982, 132 of 1985, 288 of 1985, 319 of 1985, 55 of 1987, 117 of 1988, 258 of 1988, 31 of 1989, 233 of 1991 and 120 of 1992.

"the operative date" means the 31st day of December, 1992.

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 pension commenced prior to the operative date and to the personal representative of any deceased pensioner or member if the deceased's pension commenced 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 preceding sub-article, nor shall this amending Scheme affect any subsisting right or liability accrued to or incurred under the existing Scheme by any person who retired from or left the service of the Board or died 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. The existing Scheme shall be amended by the deletion of the definition of the expression "Particular Female Member" contained in Article 1 of the Schedule to Statutory Instrument no. 132 of 1985 .

6. Article 3 (4) of the Schedule to Statutory Instrument no. 132 of 1985 shall be deleted and the following substituted therefor.

For the purposes of the Scheme the normal age of retirement shall be 65 years.

7. Article 4 of the Schedule to Statutory Instrument no. 120 of 1992 shall be deleted and as from the operative date all members shall contribute to this Scheme by payment into the fund at the rates determined by reference to columns (1) and (6) of Table A in Article 9 of this amending Scheme.

8. Articles 2 and 3 (2) of the Schedule to Statutory Instrument no. 132 of 1985 shall be deleted.

9. Article 5 of the Schedule to Statutory Instrument no. 120 of 1992 , shall be deleted and, in respect of any pension commencing on or after the operative date, the full pensions (including alternative full pensions and the total payments) for all members shall be the amounts determined by reference to columns (1) to (5) of Table A hereunder.

TABLE A

Basic Weekly Wage	Weekly pensions			Total Payments	Weekly Contributions
Basic Weekly Wage	For Life	Alternative Rate		Total Payments	Weekly Contributions
	For 5 years (Age 65 to 70)	Thereafter for Life
(1)	(2)	(3)	(4)	(5)
£ per week	£ p.w.	£ p.w.	£ p.w.	£ p.w.
not exceeding
85.00	16.50	16.93	16.18	4,290	2.07
85.01- 90.00	17.50	17.93	17.18	4,550	2.22
90.01- 95.00	18.50	18.93	18.18	4,810	2.37
95.01-100.00	19.50	19.93	19.18	5,070	2.52
100.01-105.00	20.50	20.93	20.18	5,330	2.67
105.01-110.00	21.50	21.93	21.18	5,590	2.82
110.01-115.00	22.50	22.93	22.18	5,850	2.97
115.01-120.00	23.50	23.93	23.18	6,110	3.12
120.01-125.00	24.50	24.93	24.18	6,370	3.27
125.01-130.00	25.50	25.93	25.18	6,630	3.42
130.01-135.00	26.50	26.93	26.18	6,890	3.57
135.01-140.00	27.50	27.93	27.18	7,150	3.72
140.01-145.00	28.50	28.93	28.18	7,410	3.87
145.01-150.00	29.50	29.93	29.18	7,670	4.02
150.01-155.00	30.50	30.93	30.18	7,930	4.17
155.01-160.00	31.50	31.93	31.18	8,190	4.32
160.01-165.00	32.50	32.93	32.18	8,450	4.47
165.01-170.00	33.50	33.93	33.18	8,710	4.62
170.01-175.00	34.50	34.93	34.18	8,970	4.77
175.01-180.00	35.50	35.93	35.18	9,230	4.92
180.01-185.00	36.50	36.93	36.18	9,490	5.07
185.01-190.00	37.50	37.93	37.18	9,750	5.22
190.01-195.00	38.50	38.93	38.18	10,010	5.37
195.01-200.00	39.50	39.93	39.18	10,270	5.52
Over 200	40.50	40.93	40.18	10,530	5.67

10. Article 9 (3) of the Schedule to Statutory Instrument no. 226 of 1957 as inserted by Statutory Instrument no. 288 of 1985 and subsequently amended by Statutory Instrument no. 55 of 1987 , Statutory Instrument no. 31 of 1989 and Statutory Instrument no. 233 of 1991 is further amended by the substitution in paragraphs (a) and (b) of "before the 17th day of January, 1995" in lieu of "before the 17th day of January, 1992".

11. If any member of the Scheme having not less than ten years' service leaves the service of the Board within five years of reaching the normal age of retirement without entitlement to a reduced pension under Article 9 (1) of the Schedule to Statutory Instrument no. 226 of 1957 , as inserted by Article 9 (1) of the Schedule to Statutory Instrument no. 117 of 1988 , he may be granted a discounted pension payable and calculated in the first instance in accordance with the said Article 9 (1) but then reduced to reflect early payment by such amount as the Board, after consulting the Actuary, considers to be appropriate, unless he instead becomes entitled to, and elects to, receive pension benefits under a transfer arrangement with some other retirement benefits arrangement in respect of his service with the Board. Discounted pensions payable under this Article shall be deemed not to be reduced pensions within the meaning of the existing Scheme.

GIVEN under my Official Seal, this 22nd day of December, 1992.

MÁIRE GEOGHEGAN-QUINN,

Minister for Tourism, Transport and Communications.

EXPLANATORY NOTE.

The purpose of the Scheme is to provide for the reduction, under certain conditions of the retiring ages prescribed in the existing Scheme, to allow for voluntary early retirement on redundancy and the equalisation of pension arrangements for men and women.