S.I. No. 407/2024 - Commission for Railway Regulation (Employees) Superannuation Scheme 2024

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 16th August, 2024.

1. The Commission for Railway Regulation, in exercise of the powers conferred on it by section 23 of the Railway Safety Act 2005 (No. 31 of 2005) (as amended by S.I. No. 69 of 2016), with the approval of the Minister for Transport and the consent of the Minister for Public Expenditure, NDP Delivery and Reform, hereby adopt the Rules For Pre-Existing Public Service Pension Scheme Members set out in S.I. No. 582 of 2014 for the purposes of the making of a Superannuation Scheme for staff of the Commission for Railway Regulation, including the deputy commissioner, subject to the modifications set out in Article 5.

2. This Scheme may be cited as the Commission for Railway Regulation (Employees) Superannuation Scheme 2024.

3. This Scheme hereby revokes the Superannuation Scheme for Railway Safety Commission Staff 2013, which was approved by the Minister for Transport, Tourism and Sport and consented to by the Minister for Public Expenditure and Reform on 7 October 2013.

4. In accordance with section 23 (8) of the Railway Safety Act 2005 , superannuation benefits granted under this scheme to persons who immediately before the 1st day of January 2006 were officers of the Minister for Transport and the terms and conditions relating to those benefits shall not be less favourable to those persons than those to which they were entitled immediately before that day.

5. The modifications referred to in Article 1 are as follows:

(a) In Article 5 (2) (b), -

“who is not a new entrant and whose actual pensionable service on attaining age 65 would be less than the vesting period, or”

is deleted and the following is inserted in its place—

“who is not a new entrant and whose actual pensionable service on attaining age 70 would be less than the vesting period, or”

(b) In Article 5 (5), -

“A member who is not a new entrant may not continue in membership after having reached the age of 65”

is deleted and the following is inserted in its place—

“A member who is not a new entrant may not continue in membership after having reached the age of 70.”

(c) In Article 7(3) –

“5% of pensionable remuneration or,” is deleted.

(d) In Article 29 (3) –

“In the case where the former member dies while in receipt of a pension, other than a pension based on Article 18 (Cost Neutral Early Retirement), a preserved pension or a pension awarded on medical grounds”

is deleted and the following is inserted in its place –

“In the case where the former member dies while in receipt of a pension, other than a pension based on Article 17 (Cost Neutral Early Retirement), a preserved pension or a pension awarded on medical grounds”

The Minister for Transport hereby approves the making of the above Scheme.

GIVEN under my Official Seal,

14 August, 2024.

EAMON RYAN,

Minister for Transport.

The Minister for Public Expenditure, NDP Delivery and Reform hereby consents to the making of the above Scheme.

GIVEN under my Official Seal,

14 August, 2024.

PASCHAL DONOHOE,

Minister for Public Expenditure, NDP Delivery and Reform.

Given under the Seal of the Commission of Railway Regulation,

14 August, 2024.

BRIAN HIGGISSON,

Commission for Railway Regulation, Commisioner.