S.I. No. 251/1974 - Great Northern Railway Company (Ireland) Pension Fund (Amendment) Scheme For Wages Staff (Confirmation) Order, 1974

S.I. No. 251 of 1974.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND (AMENDMENT) SCHEME FOR WAGES STAFF (CONFIRMATION) ORDER, 1974.

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 (in these Recitals referred to as the Board) 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 ( S.I. No. 25 of 1959 ), submitted to the Minister for Transport and Power a scheme (in those Recitals referred to as the amending scheme) amending the said Great Northern Railway Company (Ireland) Pension Fund for Wages Staff :

AND WHEREAS the said Minister proposes to confirm the amending scheme :

NOW, I, PETER BARRY, 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 ( S.I. No. 125 of 1959 ), hereby, after consultation with the Minister for Finance, order as follows :—

1.

2.

3.

SCHEDULE.

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

In this amending Scheme "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 ), (b) the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff (Amendment) Scheme (Confirmation) Order, 1965 ( S.I. No. 50 of 1965 ), (c) the Great Northern Railway Company (Ireland) Pension Fund for Regular Wages Staff (Amendment) Scheme (Confirmation) Order, 1967 ( S.I. No. 9 of 1967 ), (d) the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff (Amendment) Scheme (Confirmation) Order, 1969 ( S.I. No. 60 of 1969 ), and (c) the Great Northern Railway Company (Ireland) Pension Fund (Amendment) Scheme for Wages Staff (Confirmation) Order, 1971 ( S.I. No. 81 of 1971 ).

The term "operative date" means the 31st Day of July, 1974.

• (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 pensioner whose right to pension accrued prior to the operative date and to the personal representative of any deceased pensioner if the deceased's right to pension accrued prior to the operative date.

• (2) Nothing in this amending Scheme shall affect the rights of any of the persons mentioned in the previous sub-article, nor shall this amending Scheme affect any subsisting right or liability accrued to or incurred by any person under the existing Scheme prior to the operative date.

• (3) Deferred and special pensions, now payable or at any time to become payable shall not be affected by this amending Scheme.

• (1) 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.

• (2) The increased contributions and benefits provided for by this amending Scheme are, where applicable, in substitution for the corresponding contributions and benefits provided for by the existing Scheme.

4.

As from the operative date members shall contribute to this Scheme by payment into the Fund at the following rates:—

5.

The full pensions (including alternative full pensions) and the total payments set out in Table A hereunder shall be substituted for the like pensions and total payments set out in Table A of the existing Scheme in respect of any pension (other than a deferred or special pension) first becoming payable on or after the operative date.

TABLE A.

Males:

Females:

GIVEN under my Official Seal, this 6th day of August, 1974.

PETER BARRY,

Minister for Transport and

Power.

EXPLANATORY NOTE.

The purpose of the Order is to confirm a scheme to amend the existing pension scheme so as to provide for increased pensions for certain members of the scheme.