S.I. No. 116/1967 - Turf Development Act, 1953 (Regular Works Employees) Superannuation (Amendment) Scheme, 1967.

S.I. No. 116 of 1967.

SCHEME ENTITLED TURF DEVELOPMENT ACT, 1953 (REGULAR WORKS EMPLOYEES) SUPERANNUATION (AMENDMENT) SCHEME, 1967.

I, ERSKINE H. CHILDERS, Minister for Transport and Power, in exercise of the powers conferred on me by Section 6 of the Turf Development Act, 1953 (No. 19 of 1953), and with the concurrence of the Minister for Finance, hereby approve of the Scheme set out in the Schedule hereto.

SCHEDULE.

1. This Scheme may be cited as the Turf Development Act, 1953 (Regular Works Employees) Superannuation (Amendment) Scheme, 1967.

2. (1) The Turf Development Act, 1953 (Regular Works Employees) Superannuation Scheme, 1963 (No. 10 of 1963), is hereby amended by the substitution for Regulation 27 of the following : " Death Benefit 27 (1) If a contributing member dies whilst in the service of the Board there shall be paid to or for the benefit of his dependent relatives, or any of them as the Committee in their absolute discretion may determine, whichever of the following amounts is the greater—

(a) a lump sum of £200, or

(b) a sum as certified by the Actuary which is equivalent to the the present value of the payment for a period of five years of the pension (if any) to which the said member would have been entitled under these Regulations if he had retired on account of failure of health on the date of his death. Provided, however, that the whole or part of the value of the benefit payable under this regulation shall, where necessary, be given by way of non-commutable and non-assignable pension or annuity for any dependent relative of the member so as to secure that the aggregate value of all benefits given otherwise than by way of such pension or annuity as aforesaid on the death of the member, under all retirement benefits schemes subsisting in connection with the Board shall not exceed whichever is the greatest of the following:—

(i) The sum of one thousand pounds.

(ii) An amount equal to the member's final remuneration.

(iii) An amount equal to one-thirtieth of the member's final remuneration multiplied by the number of the member's years of service with the Board or by forty-five whichever is the less.

(iv) An amount equal to the aggregate of the sums contributed by the member under the schemes referred to above, together with compound interest on those sums at the rate of 3 per cent per annum, or

(v) Such larger amounts as the Revenue Commissioners may allow.

For the purpose of this proviso, the definition of ` Final Remuneration ' contained in subsection (1) of Section 31 of the Finance Act, 1958 , shall apply.

(2) A pension payable under Regulation 24 or Regulation 26 of these Regulations shall be payable during the life-time of the pensioner to the date of his death. If a pensioner dies before he has received the full amount of five years' pension payable to him as aforesaid, payment of his pension shall be continued to or for the benefit of his dependent relatives, or any of them as the Committee in their absolute discretion may determine, until the total sum paid to or for the benefit of the pensioner and his dependent relatives equals the amount of five years pension. Provided that if requested by the legal personal representatives or dependent relatives so to do, the Committee may, if they think fit, commute the balance so payable for a single payment of such amount as the Actuary shall certify to be fair and reasonable, whereupon all further payments and obligations shall cease. Provided further that in the event of there being no dependent relative, the Committee in their absolute discretion may, if they see fit, authorise the Trustees to pay the commuted sum as aforestated, to the legal personal representatives of the pensioner for the benefit of the pensioner's next-of-kin or any of them and the receipt of any such person or persons for the payment shall be a good discharge to the Trustees for every such payment.

(3) The benefit payable on the death of a member under these Regulations shall be applied for the benefit of his widow and other dependents or any of them as the Committee in their absolute discretion may determine and in the event of there being no dependent relative they may if they see fit authorise the Trustees to pay it tothe legal personal representatives of the member for the benefit of the member's next-of-kin or any of them and the receipt of any such person or persons for the payment shall be a good discharge to the Trustees for every such payment.

(4) A member or a pensioner shall not be entitled to dispose of such benefits by his will but if a member or a pensioner shall during his lifetime by notice in writing to the Committee specify the dependants or dependant, or in the event of there being no dependent relative, the next-of-kin or any of them whom he desires to benefit upon his death then the Committee may take such request into consideration but shall not be bound or obliged to comply with it.

(5) If the death of any contributing member arises directly or indirectly as a result of any war, whether war be declared or not, or as a result of any insurrection or riot or civil commotion, the amount payable to his dependent relatives as aforesaid shall be a sum equal to the total of all the contributions paid by the member; provided that the Committee having considered all the circumstances and having consulted the Actuary may pay such additional sum as they in their absolute discretion may think fit, subject to the further proviso that the total amount so payable shall not exceed the amount which would have been payable under sub-paragraphs (1) (a) or (1) (b) of this regulation in the event of the member's death in the service."

(2) This regulation shall be deemed to have come into force and effect as from 1st day of December, 1965.

GIVEN under my Official Seal, this 10th day of May 1967.

(Sgd) ERSKINE H. CHILDERS.

Minister for Transport and Power.

I concur in the making of the foregoing Scheme.

GIVEN under my Official Seal, this 10th day of May 1967.

(Sgd) CHARLES J. HAUGHEY.

Minister for Finance.

EXPLANATORY NOTE.

This instrument amends the death benefit provisions in the Turf Development Act, 1953 (Regular Works Employees) Superannuation Scheme, 1963.