S.I. No. 290/1985 - Great Northern Railway Company (Ireland) Pension Fund For Wages Staff (Amendment) Scheme (Confirmation) Order, 1985.

S.I. No. 290 of 1985.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND FOR WAGES STAFF (AMENDMENT) SCHEME (CONFIRMATION) ORDER, 1985.

I, JIM MITCHELL, Minister for Communications, in exercise of the powers conferred on me by section 44 of the Transport Act, 1950 (No. 12 of 1950), and the Ministers and Secretaries (Amendment) Act, 1983 (No. 40 of 1983), hereby, after consultation with the Minister for the Public Service, 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, 1985.

2. In this Order "the amending Scheme" means the scheme amending the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff prepared by Córas Iompair Éireann and submitted to the Minister for Communications under section 44 of the Transport Act, 1950 (No. 12 of 1950), and set out in the Schedule to this Order.

3. The amending Scheme is hereby confirmed and shall be deemed to have come into operation on the 12th day of March, 1980.

SCHEDULE.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND FOR WAGES STAFF (AMENDMENT) SCHEME, 1985.

Definitions:

1. In this amending Scheme "the existing Scheme" means the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff as amended by amending Schemes confirmed by Statutory Instruments numbered 53 of 1962, 50 of 1965, 9 of 1967, 60 of 1969, 81 of 1971, 251 of 1974, 291 of 1977, 76 of 1980 and 183 of 1982.

The term "operative date" means the 12th day of March, 1980.

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.

Amendment of the Existing Scheme:

3. 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. Sub-articles (3) and (4) of Article 9 of the Schedule to S.I. No. 53 of 1962 shall be renumbered (4) and (5) respectively and the following new sub-article shall be inserted in the Scheme to follow sub-article (2) of the said Article 9 with effect from the operative date:

"(3) ( a ) A member having not less than ten years service whose services are dispensed with on or after the operative date and before the 17th day of January, 1987 because of redundancy arising from any scheme for the re-organisation or more economical operation of any department of the Board's undertaking, he then being within ten years of reaching the normal age of retirement may, if the Board so agrees, be granted a reduced pension calculated in accordance with Article 5 of the Schedule to S.I. No. 50 of 1965 and Table A as amended.

( b ) A member having not less than ten years service whose services are dispensed with on or after the operative date and before the 17th day of January, 1987 for the cause specified in the preceding paragraph, he being then between the ages of 50 and 55 years, may, if the Board so agrees, be granted a reduced pension deferred to and payable from the date on which he attains the age of 55 years, which reduced pension shall be calculated in accordance with Article 5 of the Schedule to S.I. No. 50 of 1965 and Table A as amended.

( c ) If an additional contribution to the fund is required to meet the cost of providing a reduced pension under paragraph (a) above, it shall be contributed by the member or by the Board or jointly by the member and the Board as they may agree between them.".

GIVEN under my Official Seal, this 22nd day of August, 1985.

JIM MITCHELL,

Minister for Communications

EXPLANATORY NOTE.

The purpose of the scheme is to provide for the reduction, under certain conditions, of the retiring ages/service requirement prescribed in the existing scheme, to allow for voluntary early retirement on redundancy.