S.I. No. 9/1967 - Great Northern Railway Company (Ireland) Pension Fund For Wages Staff (Amendment) Scheme (Confirmation) Order, 1967.

S.I. No. 9 of 1967.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND FOR WAGES STAFF (AMENDMENT) SCHEME (CONFIRMATION) ORDER, 1967.

WHEREAS by section 15 (4) of the Great Northern Railway Act, 1958 (No. 20 of 1958), the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff was continued in being :

AND WHEREAS Córas Iompair Éireann has, in pursuance of section 15 (10) of the Great Northern Railway Act, 1958 , and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 (No. 125 of 1959), submitted to the Minister for Transport and Power a scheme (in these Recitals referred to as the amending scheme) amending the said Great Northern Railway Company (Ireland) Pension Fund for Wages Staff :

AND WHEREAS the Minister for Transport and Power proposes to confirm the amending scheme :

NOW, I, ERSKINE H. CHILDERS, Minister for Transport and Power, in exercise of the powers conferred on me by section 15 (10) of the Great Northern Railway Act, 1958 (No. 20 of 1958), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 (No. 125 of 1959), hereby, after consultation with the Minister for Finance, order as follows :

1. This Order may be cited as the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff (Amendment) Scheme (Confirmation) Order, 1967.

2. In this Order " the amending scheme " means the scheme (amending the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff) submitted by Córas Iompair Éireann under section 15 (10) of the Great Northern Railway Act, 1958 .

3. The amending scheme (a copy of which is set out in the Schedule to this Order) is hereby confirmed and shall come into operation on the 19th day of January, 1967.

SCHEDULE.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND FOR WAGES STAFF (AMENDMENT) SCHEME.

1. Definitions :

In this amending Scheme the following words and expressions shall have the meanings hereby assigned to them unless there is something in the subject matter or context repugnant to such construction :—

" The existing Scheme " means the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff as amended by (a) the Great Northern Railway Company (Ireland) Pension Fund (Amendment) Scheme for Wages Staff (Confirmation) Order, 1962 ( S.I. No. 53 of 1962 ) and (b) the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff (Amendment) Scheme (Confirmation) Order, 1965 ( S.I. No. 50 of 1965 ).

" This Scheme " means the existing Scheme as hereby amended.

" Table A " means the Table of Pensions and Total Payments set out in Article 4 of the Schedule to S.I. No. 50 of 1965 .

" Operative date " means the date prescribed by the Order confirming this amending Scheme as the date upon which this amending Scheme is to come into operation.

2. Continuance of 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 the personal representative of any member who died prior to the 1st day of April, 1963.

(2) Nothing in this amending Scheme shall affect the rights of any person arising on the death of a member which occurred prior to the 1st day of April, 1963.

3. Amendment of Existing Scheme :

Subject to the provisions of Article 2 of this amending Scheme, the existing Scheme shall be amended 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. Article 11 of the Schedule to S.I. No. 53 of 1962 shall be amended by :—

(a) the deletion of sub-article (3),

(b) the re-numbering of sub-article (4) to be sub-article (3), and

(c) the alteration of the reference to " sub-article (4) " in sub-article (1) to read " sub-article (3) ".

5. The following new rule shall be added to the existing Scheme and inserted after Article 11 of the Schedule to S.I. No. 53 of 1962 :—

11a. Death of Employee :

(1) If a member having less than 20 years service or being under 55 years of age (50 in the case of a female member) dies while in the service of the Board and before retiring on pension, a refund of his contributions without interest shall be made from the Fund to his personal representative.

(2) If a member dies while in the service of the Board less than 10 years before he would have reached the normal age of retirement and after not less than 20 years service his personal representative or successive representatives from time to time shall receive a sum calculated and payable as follows :—

(a) A sum bearing the same ratio to the Total Payment in column 5 of Table A proper to such member having regard to his basic weekly wage immediately prior to his death or immediately before the commencement of Sickness Benefit or Workmen's Compensation, as the case may be, as the number of years of service of such member bears to the number of years of his possible service had he remained in the service of the Board until the normal age of retirement, from which shall be deducted :—

(i) the amount of any mortality grant paid or payable out of the Board's Welfare Scheme for Regular Wages Staff, and

(ii) the amount of any contributions which may have been refunded out of the Fund.

(b) The sum thus calculated shall be payable by equal weekly payments over a period of 5 years from thedeath of the member but, in the case of a member who died on or after the 1st day of April, 1963, and prior to the operative date, the sum thus calculated shall be paid by equal weekly payments over the period between the operative date and the expiration of five years from the date of death.

(3) The amount of any refund of contributions or of any other payments directed by this Article shall be paid out of the Fund by the Trustees, but, if the Board notify the Trustees that a debt is due to the Board from the deceased member, the Trustees shall retain such amount or amounts or so much thereof as may be necessary to discharge the said debt and shall pay the same to the Board.

(4) This Article shall apply upon the death of a member in the service of Ostlanna Iompair Éireann but in such case the words " the Board " where they appear in this Article other than in clause (2) (a) (i) hereof shall mean " Ostlanna Iompair Éireann ".

GIVEN under my Official Seal, this 19th day of January, 1967.

ERSKINE H. CHILDERS,

Minister for Transport and Power.

EXPLANATORY NOTE.

The purpose of the Order is to confirm a scheme to amend the existing Great Northern Railway Company (Ireland) Pension Fund for Wages Staff so as to provide for the payment from the Pension Fund of a mortality benefit and for certain consequential changes in the terms of the Scheme, with retrospective effect to 1st April, 1963.