S.I. No. 65/2016 - Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) Scheme (Confirmation) Order 2016.


Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 16th February, 2016.

I, PASCHAL DONOHOE, Minister for Transport, Tourism and Sport, in exercise of the powers conferred on me by section 44(4) of the Transport Act 1950 (No. 12 of 1950) and Article 4 of the Córas Iompair Éireann (Additional Powers) Order 1988 ( S.I. No. 381 of 1988 ) 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 (Alteration of Name of Department and Title of Minister) Order 2011 ( S.I. No. 141 of 2011 )) after consultation with the Minister for Public Expenditure and Reform, hereby order as follows:

1. This Order may be cited as the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) Scheme (Confirmation) Order 2016.

2. In this Order “amending Scheme” means the Scheme amending the Córas Iompair Éireann Superannuation Scheme 1951 (confirmed by the Córas Iompair Éireann Superannuation Scheme 1951 (Confirmation) Order 1951 ( S.I. No. 353 of 1951 )), prepared by Córas Iompair Éireann and submitted to the Minister for Transport, Tourism and Sport under section 45(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 comes into operation on 1 April 2016.

SCHEDULE

CÓRAS IOMPAIR ÉIREANN SUPERANNUATION SCHEME 1951 (AMENDMENT) SCHEME 2016

Interpretation

1. (1) In this amending Scheme-

“existing Scheme” means the Córas Iompair Éireann Superannuation Scheme 1951 set out in the Schedule to the Córas Iompair Éireann Superannuation Scheme 1951 (Confirmation) Order 1951 ( S.I. No. 353 of 1951 ), as last amended by the amending superannuation scheme confirmed by the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) Scheme (Confirmation) (No. 2) Order 2015 ( S.I. No. 475 of 2015 );

“1982 amending scheme” means the amending scheme confirmed by the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) Scheme 1982 (Confirmation) (No. 2) Order 1982 ( S.I. No. 345 of 1982 );

“1992 amending scheme (No. 1)” means the amending scheme confirmed by the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) Scheme (Confirmation) Order 1992 ( S.I. No. 12 of 1992 );

“1992 amending scheme (No. 3)” means the amending scheme confirmed by the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) (No. 3) Scheme (Confirmation) (No. 3) Order 1992 ( S.I. No. 421 of 1992 );

“2004 amending scheme” means the amending scheme confirmed by the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) Scheme (Confirmation) Order 2004 ( S.I. No. 11 of 2004 );

“operative date” means 1 April 2016 in respect of Articles 2 and 3.

(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.

Continuance of existing Scheme

2. (1) Subject as hereinafter specifically provided 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) Subject as hereinafter specifically provided 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 in respect of, 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.

Amendment of existing Scheme

3. Subject to Article 2 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.

4. The existing Scheme is amended-

(a) by substituting for Rule 3(3) (amended by Article 4 of the 1992 amending scheme (No. 1)) of the existing Scheme the following:

“(3) Save as provided in rules 34 and 37, no person may become a member of this Scheme after reaching the age of 56 years.”,

(b) by substituting for Rule 19(2) (amended by Article 6 of the 2004 amending scheme) of the existing Scheme the following:

“(2)(a) Subject to any alterations made under Clause (3) of this Rule, the contributions of a member who is not a Co-Ordinated Member shall be the percentage of the salary of the member which is specified for the age of the member in the following scale—

Age next Birthday at Entry

% Contribution

16

5. 125

17-19

5. 625

20-22

6. 125

23-26

6. 625

27-43

7. 125

44-51

7. 625

52-56

8. 125

(b) Subject to any alterations made under Clause (3) of this Rule, the contributions of a Co-Ordinated Member shall be the percentage of the Net Salary and Salary of the Co-Ordinated Member which is specified for the age of the Co-Ordinated Member in the following scale:-

Age next Birthday at Entry

Annuity — % of Net Salary

Capital Sum — % of Salary

16

3.625

1.5

17-19

3.925

1.7

20-22

4.325

1.8

23-26

4.625

2.0

27-43

5.025

2.1

44-51

5.525

2.1

52-56

5. 925

2.2

(c) Every member to whom Rule 29 applies shall contribute a further one-eighth part of one per cent of his/her Salary or if s/he is a Co-Ordinated Member, one eighth part of one per cent of his/her Net Salary.”,

(c) by substituting for Rule 21(1) (amended by Article 7 of the 1992 amending scheme (No. 3)) of the existing Scheme the following:

“(1) For the purpose of this Scheme the normal age of retirement shall be at any time after attaining the age of 60 years but not later than attaining the age of 66 years.”, and

(d) by substituting for the table in Rule 29A(9) (amended by Article 14 of the 1992 amending scheme (No. 3)) of the existing Scheme the following:

Age next birthday at exercise of option

Contribution as Percentage of Salary

20-60

14.0

61

13.8

62

13.6

63

13.4

64

13.2

65

13.0

66

12.8

”.

5. Article 1 of the 1982 amending scheme is amended by substituting “normal retirement age of 60/66 years of age” for “normal retirement age of 60/65 years of age” in the definition of “particular female member”.

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GIVEN under my Official Seal,

11 February 2016.

PASCHAL DONOHOE,

Minister for Transport, Tourism and Sport.

EXPLANATORY NOTE

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

The purpose of this Order is to increase the maximum entry age to age 56 and to increase the normal age of retirement for members of the Córas Iompair Éireann Superannuation Scheme 1951 from any time after attaining the age of 60 up to the age of 66 years.