S.I. No. 37/1998 - Ministerial and Parliamentary Offices (Discounted Pensions) Regulations, 1998.

S.I. No. 37 of 1998.

MINISTERIAL AND PARLIAMENTARY OFFICES (DISCOUNTED PENSIONS) REGULATIONS, 1998.

I, CHARLIE McCREEVY, Minister for Finance, in exercise of the powers conferred on me by section 13A (7) (d) (inserted by section 7 of the Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1992 (No. 3 of 1992)) of the Ministerial and Parliamentary Offices Act, 1938 (No. 38 of 1938), hereby make the following Regulations:

1. (1) These Regulations may be cited as the Ministerial and Parliamentary Offices (Discounted Pensions) Regulations, 1998.

(2) These Regulations shall be deemed to have come into operation on the 12th day of January, 1993.

2. Where a person to whom section 13A or 13B (inserted by the Oireachtas (Allowances to Members) and Ministerial and Parliamentary Offices (Amendment) Act, 1992 ) of the Ministerial and Parliamentary Offices Act, 1938 (No. 38 of 1938), applies, has attained the age of 50 years but has not attained the age of 55 years, is paid a discounted pension, it is hereby prescribed that the amount of the pension paid to that person shall be reduced to the appropriate amount, expressed in percentage terms, of the pension the person would have been entitled to had he or she attained the age of 55 years, specified in column (2) of the Schedule to these Regulations opposite the relevant age of the person, on his or her birthday preceding the date on which the pension commences to be paid, mentioned in column (1) thereof.

SCHEDULE

(1)	(2)
Person's age on birthday preceding the date on which payment of discounted pension commences	Percentage of pension payable
	%
50	76
51	80
52	85
53	89
54	94

GIVEN under my Official Seal, this 6th day of February, 1998.

CHARLIE McCREEVY,

Minister for Finance.

EXPLANATORY NOTE.

This Regulation determines the reduction to apply to the pension of a former Minister, Minister of State or Parliamentary Office Holder who, in certain circumstances, may choose to have his or her pension come into payment between the ages of 50 and 55.