S.I. No. 421/1992 - Córas Iompair Éireann Superannuation Scheme, 1951 (Amendment) (No. 3) Scheme (Confirmation) (No. 3) Order, 1992.

I, MÁIRE GEOGHEGAN-QUINN, Minister for Tourism, Transport and Communications, in exercise of the powers conferred on me by Section 44 of the Transport Act, 1950 (No. 12 of 1950), as amended by the Communications (Transfer of Departmental Administration and Ministerial Functions) (No. 2) Order, 1987 ( S.I. No. 92 of 1987 ), and the Tourism and Transport (Alteration of Name of Department and Title of Minister) Order, 1991 ( S.I. No. 25 of 1991 ), hereby, after consultation with the Minister for Finance, order as follows:

1. This Order may be cited as the Córas Iompair Éireann Superannuation Scheme 1951 (Amendment) (No. 3) Scheme (Confirmation) (No. 3) Order, 1992.

2. In this Order, "the amending Scheme" means the Scheme amending the Córas Iompair Éireann Superannuation Scheme, 1951 prepared by Córas Iompair Éireann and submitted to the Minister for Tourism, Transport and 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 17th day of May, 1990.

CÓRAS IOMPAIR ÉIREANN SUPERANNUATION SCHEME, 1951 (AMENDMENT) (NO. 3) SCHEME, 1992.

1. Interpretation

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:

"the existing Scheme" means the C.I.E. 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 ), and subsequently amended by the amending Superannuation Schemes confirmed by Statutory Instruments numbered 221 of 1963, 80 of 1971, 254 of 1974, 47 of 1977, 126 of 1981, 245 of 1982, 345 of 1982, 287 of 1985, 339 of 1986, 58 of 1987, 29 of 1989, 212 of 1989, 234 of 1991, 12 of 1992 and 13 of 1992.

"the operative date" means the 17th day of May, 1990.

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.

3. Continuance of the 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 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) ( a ) 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 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.

( b ) Deferred annuities within the meaning of Rule 21A which are now payable shall not be affected by this amending Scheme.

4. Amendment of the Existing Scheme

Subject to the provisions of Article 3 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.

5. Establishment of the Fund

Clause (1) of Rule 4 shall be amended by the deletion of the word "widows" from that Clause and the substitution in its place of the word "spouses".

6. Contributions by Members

Paragraph (a) of Clause (2) of Rule 19 shall be deleted and the following paragraph shall be substituted therefor:

( a ) Subject to any alterations made under Clause (3) of this Rule, the contributions of a member who is not a Scheduled Officer shall be the percentage of the salary of the member which is specified for the age of the member in the following scale:—

7. Superannuation Allowances on Retirement

Rule 21 of the existing Scheme shall be deleted and the following rule shall be substituted therefor:

21. Superannuation Allowances on Retirement

(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 65 years.

(2) A member who has not less than ten years' pensionable membership and who leaves the service of the Board on or after the operative date either after having attained the normal age of retirement or by reason of infirmity shall (subject in the latter case to the provisions of Clause (8) of this Rule) be entitled to receive from the fund by wqay of superannuation allowance a capital sum and an annuity calculated in accordance with Clause (3) of this Rule.

(3) The capital sum and the rate per annum of the annuity referred to in nClause (2) of this Rule shall be as follows:—

( a ) The capital sum shall be equal to one thirtieth of the member's Pensionable Salary multiplied by the number of years of his pensionable membership (subject to a maximum of forty-five years).

( b ) The rate per annum of the annuity shall be one eightieth of his Pensionable Salary multiplied by the number of years of his pensionable membership (subject to a maximum of forty years).

(4) A member who has not less than ten years' pensionable membership and who leaves the service of the Board without entitlement to a superannuation allowance under Clause (2) of this Rule but having attained the age of 55 years shall be entitled to receive from the fund by way of superannuation allowance a capital sum and an annuity calculated in accordance with Clause (5) of this Rule, unless he instead becomes entitled to, and elects to, receive pension benefits under a transfer arrangement with some other retirement benefits arrangement in respect of his service with the Board.

(5) The capital sum and the rate per annum of the annuity referred to in Clause (4) of this Rule shall be as follows:—

( a ) the capital sum shall be

(i) where the member concerned is not a particular female member, one thirtieth of the member's Pensionable Salary multiplied by the number of years of his pensionable membership (subject to a maximum of forty-five years) reduced to reflect payment in advance of the age of 60 by such an amount as the Committee after consulting the Actuary shall determine, and

(ii) where the member concerned is a particular female member:

(A) one thirtieth of the member's Pensionable Salary multiplied by the number of years of her pensionable membership completed up to 17 May 1990, plus

(B) one thirtieth of the member's Pensionable Salary multiplied by the number of years of her pensionable membership completed after 17 May 1990 reduced to reflect payment in advance of the age of 60 by such amount as the Committee after consulting the Actuary shall determine,

provided that only the first forty-five years of pensionable membership shall be taken into account for the purposes of this paragraph (ii), and

( b ) The rate per annum of the annuity shall be:—

(i) where the member concerned is not a particular female member, one eightieth of the member's Pensionable Salary multiplied by the number of years of his pensionable membership (subject to a maximum of forty years) reduced to reflect payment in advance of the age of 60 by such amount as the Committee after consulting the Actuary shall determine, and

(ii) where the member concerned is a particular female member:—

(A) one eightieth of the member's Pensionable Salary multiplied by the number of years of her pensionable membership completed up to 17 May 1990, plus

(B) one eightieth of the member's Pensionable Salary multiplied by the number of years of her pensionable membership completed after 17 May 1990 reduced to reflect payment in advance of the age of 60 by such amount as the Committee after consulting the Actuary shall determine,

provided that only the first forty years of pensionable membership shall be taken into account for the purposes of this paragraph (ii).

(6) Where a former member who is entitled to receive an annuity under this Rule (not being a member who converted the whole of his annuity into a joint annuity under Rule 21B) dies within five years from the date of his retirement, the following provisions shall apply but subject to the limitations imposed by rule 21C when applicable:—

( a ) if a former member leaves a spouise to whom he was married before he retired, the whole of the annuity to which he was entitled under Clause (2) or (4) of this Rule, or if part was converted under Rule 21B, so much thereof as remains unconverted ("the unconverted annuity") shall continue to be paid to the spouse until the expiration of five years from the date of the member's retirement provided the spouse so long lives and remains unmarried;

( b ) if the spouse dies or remarries within the period of five years and at the date of the spouse's death or remarriage there are any children of the deceased member then alive and under the age of 18 years, or if a former member leaves no such spouse but a child or children then alive and under the age of 18 years, the unconverted annuity shall:—

(i) if there is only one such child, be paid for the benefit of such child until the expiration of the five-year period or until the child dies or reaches the age of 18 years, whichever shall first occur;

(ii) if there are two or more such children, be divided equally between them, and each portion shall be disposed of in accordance with the last preceding sub-paragraph;

( c ) if a former member leaves no such spouse and no child then alive and under the age of 18 years, or when all annuity payments under this Clause have ceased (but not if such payments ceased by the remarriage of such spouse without any child of the deceased former member being then alive and under the age of 18 years) the difference (if any) between the total unconverted annuity payments made (being the total of such payments made to the deceased former member and under this clause) and a sum equal to the present value of five times and amount of the unconverted annuity of the deceased former member, shall be paid out of the Fund to the deceased former member's personal representative.

(7) when under this or any subsequent Rule an annuity or any portion of an annuity or any lump sum is payable in respect of any child, the Committee may in their discretion pay the same to the child's guardian or to any person with whom the child resides or under whose care and control he is or appears to be without being obliged to ascertain whether that guardian or other person has any right to the care and tontrol of the child or to supervise the application of any amount so paid by that guardian or other person, and without being responsible for any misapplication.

(8) Where a former member is entitled to receive an annuity under this Rule by reason of infirmity, the following provisions shall apply:—

( a ) the Committee may at any time while such former member is under the age of 60, require him to give such evidence as they shall deem satisfactory of his continued infirmity and of the amount of his earnings (if any) and if he shall not give such evidence the Committee may vary, suspend or revoke the annuity to which he is entitled under Clause (2) of this Rule and if they revoke the same the Committee may at any time cancel such revocation;

( b ) if in the opinion of the Committee he has recovered sufficiently to be able to earn an income, the Committee may suspend or revoke the said annuity as they may think the circumstances justify and the Committee may accordingly from time to time fix and vary the amount of the said annuity;

( c ) if in the opinion of the Committee he has recovered sufficiently to return and does return to the service of the Board, the Committee may deal with his case in such manner as they deem just and reasonable taking all the circumstances into consideration;

( d ) if his said annuity has been reduced, suspended or revoked, as aforesaid, he shall on attaining the age of 60 and for the remainder of his life be entitled to receive the said annuity whether his infirmity continues or not and whether or not he is earning an income. Alternatively he may elect to receive an annuity beginning at any time after the election and after the age of 55 for the remainder of his life calculated in accordance with Clause (5).

(9) ( a ) A member having 10 years pensionable membership whose services are dispensed with on or after the 17th day of January 1992 and before the 17th day of January 1995 because of redundancy arising from any scheme for the re-organisation or more economical operation of any department of the Board's undertaking or of the Undertaking of any subsidiary company of the Board he or she then being between the age of 55 years and 60 years may, if the Board so agrees, be granted the superannuation allowance provided for under Clause (2) of this Rule;

( b ) if an additional contribution to the Fund is required to meet the cost of providing a superannuation allowance 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.

8. Deferred Annuity

Rule 21A of the existing Scheme shall be deleted and the following rule shall be substituted therefor:

21A. Deferred Annuity

(1) Where at any time on or after the 1st day of October 1958 and before the 31st day of March 1964, and before attaining 60 years of age, the services of any member who has not less than ten years pensionable membership are dispensed with in circumstances certified by the Board as entitling him to compensation under section 14 of the Transport Act 1958 , or section 17 of the Great Northern Railway Act 1958 , such former member may, at his option, exercisable in the manner hereinafter provided, elect to leave his contributions (if not earlier withdrawn) in the Fund instead of receiving a refund thereof, in which event he shall be entitled, on reaching the age of 60, to receive by way of superannuation allowance an annuity (hereinafter referred as as a "deferred annuity") equal to that which he would have received under Rule 21, if, on the day upon which his services were so dispensed with, he had then reached the normal minimum age of retirement and had retired on that day.

(2) So much of the deferred annuity payable to any former member under Clause (1) of this Rule as has not been converted into a joint annuity under Rule 21B shall, if the former member dies within five years from the date upon which he reached the age of 60, continuae to be paid until the expiration of five years from the date he attained that age in like manner and subject to the like provisions in all respects as are stipulated with regard to an unconverted annuity under Clause (6) of Rule 21, save that, for the purpose of this Clause, the former member's spouse shall be deemed to be the spouse to whom he was married before his services were dispensed with.

(3) The said option shall be exercised by notice in writing addressed to the Committee and delivered to the Secretary. Where the services of any such former member as aforesaid have been so dispensed with prior to the 7th day of November 1963, he shall (provided he has not withdrawn his contributions before that date) be entitled to exercise the said option within four weeks from the operative date. In any other case, the said option shall, if exercised, be exercised within four weeks from the date upon which the services of such former member are so dispensed with. No former member entitled to exercise the said option shall have any right to a refund of his contributions before the period during which the said option may be exercised has expired.

(4) If any former member entitled to a deferred annuity under Clause (1) of this Rule dies leaving a spouse or children under 18 years of age and before his deferred annuity becomes payable, an annuity equal in amount to such deferred annuity shall during the period of five years from his death be paid to such spouse or for the benefit of such children in like manner and subject to the like provisions as are stipulated with respect to an unconverted annuity under paragraphs (a) and (b) of Clause (6) of Rule 21. When all annuity payments under this Clause have ceased, the difference (if any) between the total of all annuity payments made under this Clause and a sum equal to the present value of five times the amount of the deferred annuity to which the deceased former member was entitled under Clause (1) of this Rule shall be paid out of the fund to the deceased member's personal representative.

(5) If any former member entitled to a deferred annuity under Clause (1) of this Rule dies before his deferred annuity becomes payable, but without leaving any spouse or children as aforesaid a sum equal to the present value of five times the amount of such deferred annuity shall be paid out of the fund to the deceased former member's personal representative.

9. Joint Annuities

Rule 21: of the existing Scheme shall be deleted and the following rule substituted therefor:

21B. Joint Annuities

(1) In this Rule the expression:—

"normal pension" means the annuity to which a member is entitled under this Scheme upon retiring after having attained the normal age of retirement in accordance with Rule 21 (2) or after attaining the age of 55 in accordance with Rule 21 (4);

"critical date" means in relation to:— a normal pension — the date of the member's retirement, and a deferred annuity within the meaning of rule 21A—the date upon which the former member's deferred annuity becomes payable.

(2) Subject to the provisions of this rule, every member or former member (as the case may be) shall have the option of electing to convert his normal pension or deferred annuity or part of such pension or annuity into such joint annuity as is specified in Clause (4) of this Rule payable during the joint lives of himself and a person (hereinafter called the "joint annuitant") of the description mentioned in Clause (3) of this Rule and during the life of the survivor of them.

(3) The description of the person above referred to in this Rule is as follows:—

( a ) in the case of a married member, his spouse;

( b ) in the case of an unmarried or widowed member, one dependent relative who (if younger) is not more than fifteen years younger than the member.

(4) The joint annuity into which the normal pension or deferred annuity may be converted shall be of such amount or amounts as may be determined by the Committee with the advice of the actuary.

(5) If, after the critical date, the joint annuitant predeceases the former member, the annuity payable to the former member will continue unaltered in amount.

(6) The minimum amount of a normal pension or deferred annuity which may be converted into a joint annuity shall be the whole of the normal pension or deferred annuity if not exceeding £120; and £120 of the normal pension or deferred annuity if the amount thereof exceeds £120; a part of the normal pension or deferred annuity to be so converted must be a whole number of pounds and the difference between such part and the normal pension or deferred annuity must not be less than ten pounds.

(7) ( a ) The option for a joint annuity shall be exercisable only after the member or former member has attained the age of forty-nine years and six months, and shall only be exercisable as of right and without medical examination before the member or former member attains the age of fifty years.

( b ) Where the option for a joint annuity is exercised by a member in respect of his normal pension before he attains the age of fifty years, the exercise of the said option shall be deemed to include and to extend to a deferred annuity subsequently elected to be taken by him under Rule 21A and the exercise of the said option shall apply to such deferred annuity in the same manner and to the same extent as if it was a normal pension to the intent that the amount of the deferred annuity to be converted in pursuance of this paragraph shall be equivalent to the amount of the normal pension in respect of which the said option was exercised, provided that if the amount of the normal pension which the member elected to convert equals or exceeds the amount of his deferred annuity, the exercise of the said option shall be deemed to apply to the whole of his deferred annuity; and any option for a joint annuity so exercised as aforesaid which purports to be in respect of a normal pension only or omits to mention any deferred annuity that may be taken in lieu of a normal pension shall nevertheless be deemed to apply to such deferred annuity in the manner aforesaid.

(8) Any member or former member who has not exercised or who is not deemed to have exercised any option under this Rule before attaining the age of fifty years (including a former member who after that age elected to take a deferred annuity) may at any time within three months immediately before the critical date apply to the Committee for leave to exercise the option for a joint annuity in respect of his normal pension or deferred annuity as the case may be. Before giving such leave the Committee shall require the member or former member to submit himself for medical examination but subject thereto may give or withhold such leave in their discretion. An application under this Clause for leave to exercise the appropriate option shall be irrevocable and if leave is given the application shall operate as an exercise of the option by the member or former member making the application.

(9) Every exercise by a member or former member of an option under this Rule shall be irrevocable except in the following cases, that is to say:—

( a ) if the joint annuitant dies before the critical date, the exercise of the option shall automatically be revoked;

( b ) the Committee may in their discretion on the written request of a member or former member made at any time before or within one month after the critical date permit the revocation of the option if in their opinion the circumstances justify the revocation.

(10) Upon the exercise of an option under this Rule by any member or former member being revoked either automatically or with the permission shall of the committee, a member or former member shall be remitted to the rights to which he would have been entitled under Rule 21 or Rule 21A hereof as if the option had never been exercised by him.

(11) Every application for leave to exercise an option under this Rule shall be in writing by the member or former member and addressed to the Committee and delivered to the Secretary accompanied by a certificate of birth of the joint annuitant and where the joint annuitant is the member's or former member's spouse a certificate of the marriage or by such other evidence thereof as the Committee may think fit to accept.

(12) Where a former member who is in receipt of a joint annuity dies within five years from the critical date, then on the death of such former member the difference (if any) between the total of the joint annuity payments made to the deceased former member and a sum equal to the present value of five times the amount of his joint annuity shall be paid out of the Fund:—

( a ) in the case where the joint annuitant survives the deceased former member:—

(i) to the spouse of the deceased former member if the spouse is the joint annuitant; or

(ii) to the deceased former member's personal representative if a dependent relative is the joint annuitant;

( b ) in the case where the joint annuitant dies before the former member but after the critical date, to the deceased former member's personal representative;

provided always that in the case where the joint annuitant survives the deceased former member the payment under this Clause shall be made without prejudice to the payment of the joint annuity to which the joint annuitant becomes entitled on the death of such former member.

(13) Without prejudice to the provisions of Clauses (4) and (5) of Rule 21A, if a former member who has elected to convert the whole or part of his deferred annuity into a joint annuity dies before his deferred annuity becomes payable, no joint annuity will be payable under this Rule to the joint annuitant.

10. Female Members

Rules 21C and 21D of the existing Scheme shall be deleted.

11. Spouse's and Children's Pensions

Rule 21E of the existing Scheme shall be deleted and the following rule, numbered 21C, substituted therefor:

21C. Spouses' and Children's Pensions

(1) when a Spouse's and Children's Pension becomes payable upon the death of a former member, payments then becoming payable under Clause (6) of Rule 21 and Clause (12) of Rule 21B of this Scheme shall, insofar as the Rules provide for the continuation of an annuity, be paid as a lump sum and shall be limited so that the sum of such payments together with the aggregate of any capital sum, pension or annuity payments made to the deceased former member shall not exceed the former member's pensionable salary or one-thirtieth of the said pensionable salary for each year of his pensionable membership up to forty-five thirtieths, whichever shall be the greater. Pensionable membership foar this purpose in the case of a member covered by Rule 29 shall be determined in the manner used for calculation of the capital sum under sub-paragraph (1) of paragraph (a) of the said Rule 29.

(2) If the ajmounts payable under Clause (6) of Rule 21 and Clause (12) of Rule 21B as limited by Clause (1) of this Rule are less than the amounts which would have been payable if no Spouse's and Children's Pension had become payable, the difference shall be paid to the fund of the C.I.E. Spouses' and Children's Superannuation Scheme.

12. Death Benefit

Rule 22 shall be deleted and the following rule shall be substituted therefor:

22. Death Benefit

(1) ( a ) If a member with not less than 10 years pensionable membership dies in the service of the Board leaving a spouse or children under 18 years of age, an annuity shall, during the period of five years from the date of the member's death, be paid to such spouse or for the benefit of such children in like manner and subject to the like provisions as are stipulated with respect to an unconverted annuity under paragraphs (a) and (b) of Clause (6) of rule 21.

( b ) The annuity to be paid under the preceding sub-paragraph shall be an amount equal to onae-sixtieth of the Pensionable Salary of the member (taking the date of death as the date of retirement) for every year of his pensionable membership and limited to two-thirds of his Pensionable Salary.

(2) When all annuity payments under the preceding Clause of this Rule have ceased, the difference (if any) between the total of all annuity payments made under this Rule and a sum equal to twice the amount of the deceased member's contributions to the Scheme without interest shall be paid out of the Fund:—

(i) if all annuity payments have ceased because of the death of all persons entitled thereto or, if children were entitled to benefit, because of there no longer being any child under the age of eighteen years — to the deceased former member's personal representative;

(ii) if such spouse was in receipt of the annuity when it ceased by the expiration of the said period of five years — to such spouse;

(iii) if any child of the deceased former member was in receipt of an annuity payment when it ceased by the expiration of the said period of five years — to or for the benefit of all children of the deceased former member who were under the age of eighteen years at the date of his death in equal shares.

(3) If a member with less than ten years pensionable membership dies in the service of the Board leaving a spouse or children under eighteen years of age, a sum equal to twice the amount of the deceased member's contributions to the Scheme without interest shall be paid out of the Fund to such spouse or for the benefit of such children.

(4) If a member dies in the service of the Board without leaving a spouse or children under eighteen years of age, a sum equal to twice the amount of the deceased member's contributions to the Scheme without interest shall be paid out of the Fund to his or her personal representative.

(5) Where a Spouse's and Children's Pension becomes payable upon the death in service of a member, if Clause (1) of this Rule applies, a lump sum equal to the then present value of five times the annuity provided for in the said clause (1) shall be paid instead of the said annuity and the total of benefits payable under this rule, whether the deceased member had more or less than 10 years pensionable membership, shall not exceed one year's payment of the member's pensionable salary or one thirtieth part of such salary for each year of his pensionable membership up to a maximum of forty five thirtieths, whichever is the greater. Pensionable membership for this purpose in the case of a member covered by Rule 29 shall be determined in the manner used for calculation of the capital sum under subparagraph (i) of paragraph (a) of the said Rule 29. If the total of benefits, as to limited, paid under this rule is less than the amount which, but for this limitation, would have been paid, the difference shall be paid to the Fund of the C.I.E. Spouse's and Children's Superannuation Scheme.

13. Return of Contributions

Clause (1) of rule 24 shall be deleted and the following clause shall be substituted therefor.

(1) A member who leaves the service of the Board for any reason other than infirmity before reaching the appropriate age mentioned in Clause (4) of rule 21 shall unless his service with the Board is to be reckoned as pensionable service in the Civil Service or with an approved organisation under the Superannuation and Pensions Act 1963 or the Local Government Superannuation Code be entitled to a refund of his contributions to the Fund including any contributions paid by him under Clause (8) or (9) of Rule 29A.

14. Notional Pensionable Membership

Rule 29A shall be deleted and the following rule shall be substituted therefor:

29A Notional Pensionable Membership

(1) Any member who is in the service of the Board on or after 1st April 1985 may, upon application in writing to the Committee, purchase notional years of pensionable membership provided that:—

( a ) by the time he attains the age of 60 years he would have at least nine years of actual pensionable membership;

( b ) he is not suspended from duty (with or without pay) or likely in the opinion of the Committee to retire on pension before the minimum retiring age;

( c ) he is not excluded by virtue of having received, or having an entitlement to, retained benefits from a previous pension scheme, including pensions, commutation paymaents, lump sums, gratuities and refunds of superannuation contributions but disregarding:—

(i) a refund of contributions of less than £2,000 or a refund which was paid before age 45; and

(ii) a pension of not more than £52 a year or a lump sum payment of less than £200.

(2) Notional pensionable membership may be purchased by periodical deductions from salary up to age 60 or by a lump sum payment.

(3) A member to whom this Rule applies may elect at any time during his pensionable membership and before he reaches 58 years of age to buy notional pensionable membership by periodical deductions from salary. This option, once exercised, may not be revoked unless the member gives notice of revocation in writing to the Committee before the periodical contributions commence. A member may notify the Committee at any time that he wishes to cease paying contributions under this Rule and as from the member's birthday next following receipt by the Committee of such notice in writing no further contributions will be payable but the member shall not be entitled to a refund of any contributions already paid.

(4) The option to purchase notional pensionable membership by the payment of a lump sum may only be exercised before the 1st of April 1987 in the case of a member in the service of the Board on the 1st April 1985 and in every other case may only be exercised within the period of two years from the commencement of pensionable membership. Payment of the lump sum must be made within two months of election and once payment has been made the election may not be revoked.

(5) Notional pensionable membership for which contributions have been paid will be taken into account in calculating all superannuation benefits provided the member has the required minimum pensionable membership (excluding notional pensionable membership) to qualify for the benefit in question. Where a member opts to purchase by way of lump sum contribution and dies or leaves the service of the Board before the age of 60, his pensionable membership will be increased by the full amount of pensionable service paid for. Where a member opts to purchase by periodical deductions from salary and dies or leaves the service of the Board before the age of 60, his pensionable membership will be increased by:

where A is the period of notional pensionable membership which he opted to buy, B is the period (expressed to the nearest day) over which he has paid periodical contributions and C is the total period over which he would have paid periodical contributions for notional service if he had stayed in the service of the Board until the age of 60.

(6) A member who is also a member of the CIE Spouses' and Children's Pension Scheme may elect to purchase notional pensionable membership only if he also elects at the same time to purchase in like manner in all respects notional pensionable membership under the corresponding Rule of the CIE Spouses' and Children's Pension Scheme.

(7)The maximum amount of notional pensionable membership which may be purchased is as follows:—

Where actual pensionable membership by age of 60 would have been less than twenty years and includes days of pensionable membership in excess of a whole number of years of pensionable membership, sufficient days to bring him up to the next whole number of years may be added to the appropriate number of years in the second column of the foregoing Table.

For a member who is entitled to retained benefits under another occupational pension scheme, the maximum number of years of notional pensionable membership which may be bought will normally be the lesser of:—

(i) the maximum specified in Column 2 above; and

(ii) 40 — (A + B),

where A is the total actual reckonable pensionable membership which he would have if he serves to the age of 60 and B is the length of his pensionable membership in the previous scheme.

(8) The contributions to be paid by a member who elects to purchase notional pensionable membership by periodical deductions from salary shall be a percentage of the salary of the member payable between the date of the member's birthday next following the day when he so elects and the date on which he attains 60 years of age. The percentage of salary shall be calculated with reference to the age of the member on the formula,

where A stands for the age which the member will be on his birthday next following the day on which he elects to purchase notional pensionable membership and B stands for the number of years of notional pensionable membership to be purchased.

The formula contained in this clause depends on current investment conditions and the age pattern of those opting to purchase, and may be altered at any time at the discretion of the Actuary.

(9)A member who elects to purchase notional pensionable membership by a lump sum payment shall pay the percentage of his salary indicated by reference to his age on his birthday next following the date of election for each year of notional pensionable membership to be purchased:—

The table contained in this Clause depends on current investment conditions and the age pattern of those opting to purchase, and may be altered at any time at the discretion of the Actuary.

GIVEN under my Official Seal this 22nd day of December, 1992.

MÁIRE GEOGHEGAN-QUINN,

Minister for Tourism, Transport and Communications.

EXPLANATORY NOTE.

The purpose of the Scheme is to provide for the reduction, under certain conditions of the retiring ages prescribed in the existing Scheme, to allow for voluntary early retirement on redundancy and the equalisation of pension arrangements for men and women.