S.I. No. 428/2000 - Córas Iompair Éireann Pension Scheme For Regular Wages Staff (Amendment) Scheme, 2000

>S.I. No. 428 of 2000.

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME, 2000.

I, Mary O'Rourke, Minister for Public Enterprise, in exercise of the powers conferred on me by Section 44 (4) 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 ) (as adapted by the Transport, Energy and Communications (Alteration of Name of Department and Title of Minister) Order, 1997 ( S.I. No. 299 of 1997 )), after consultation with the Minister for Finance, hereby order as follows:-

1.     This Order may be cited as the Córas Iompair éireann Pension Scheme for Regular Wages Staff (Amendment) Scheme (Confirmation) Order, 2000.

2.     In this Order, “amending scheme” means the scheme amending the Córas Iompair éireann Pension Scheme for Regular Wages Staff (confirmed by the Córas Iompair éireann Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1945 (Statutory Rules and Orders No. 242 of 1945 )), prepared by Córas Iompair éireann and submitted to the Minister for Public Enterprise under Section 44 (5) of the Transport Act, 1950 (No. 12 of 1950), and set out in the Schedule to this Order.

3.     The amending scheme is confirmed and shall be deemed to have come into operation on the 1 January 1999.

SCHEDULE

CÓRAS IOMPAIR ÉIREANN PENSION SCHEME FOR REGULAR WAGES STAFF (AMENDMENT) SCHEME, 2000.

1.     Interpretation

(1) 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:—

“1996 Amending Scheme” means the amending scheme confirmed by Statutory Instrument No. 115 of 1996 entitled Córas Iompair éireann Pension Scheme for Regular Wages Staff (Amendment) Scheme (Confirmation) Order, 1996;

“Scheme” means the Coras Iompair Eireann Pension Scheme for Regular Wages Staff confirmed by S. R. & O. No. 242 of 1945 and subsequently amended by the 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, 120 of 1992, 420 of 1992, and 115 of 1996;

“Scheme Membership” means the total of periods of service in the employment of the Board during membership of the Scheme and service which under the Superannuation and Pensions Act, 1963 (No. 24 of 1963) has been given with an approved organisation and is to be treated as pensionable for the purposes of the Scheme but in none of the foregoing periods is included notional purchased service.

(2) In this amending scheme unless otherwise expressly stated or otherwise required in the context of their usage the words and expressions used shall have the meanings assigned to them by the Scheme.

2.     Retirement Gratuity

Article 12 of the Schedule containing the 1996 Amending Scheme is hereby amended by the addition of the following:

“When a member so retiring or leaving service does so on or after the 1^st day of January, 1999, the retirement gratuity (before the deduction of any previously received gratuity) shall be calculated in accordance with the following table:

TABLE

.”

Explanatory Note

(This note is not part of the Instrument and does not purport to be a legal interpretation)

The purpose of this Order is to provide for an improvement in the lump sum gratuity payable at retirement to members of the Regular Wages Staff Pension Scheme based on pensionable service.