Social Welfare and Pensions Act 2010

(7) The previous service with the Executive of a person appointed under this section shall be reckonable for the purposes of, but subject to, any exceptions or exclusions in:

(a) the Redundancy Payments Acts 1967 to 2007;

(b) the Protection of Employees (Part-Time Work) Act 2001;

(c) the Act of 2003;

(d) the Organisation of Working Time Act 1997;

(e) the Terms of Employment (Information) Acts 1994 and 2001;

(f) the Minimum Notice and Terms of Employment Acts 1973 to 2005;

(g) the Unfair Dismissals Acts 1977 to 2007;

(h) the Maternity Protection Acts 1994 and 2004;

(i) the Parental Leave Acts 1998 and 2006;

(j) the Adoptive Leave Acts 1995 and 2005;

(k) the Carer’s Leave Act 2001.

(8) The rules of a superannuation scheme, or superannuation schemes, that at the appointment day govern benefits applicable to or in respect of a person appointed under this section shall continue to apply to or in respect of that person after the appointment day, save in accordance with a collective agreement with a recognised trade union or staff association and the approval of the Minister for Finance.

(9) Where the rules of a superannuation scheme, or superannuation schemes, referred to in subsection (8) provide for the exercise of discretion, the Minister for Finance shall, on and after the appointment day, exercise any such discretion.

(10) The pension payments and other superannuation liabilities of the Executive in respect of its former employees who have been appointed under this section become, on the appointment day, the liabilities of the Minister for Finance.

(11) A person appointed under this section shall undertake such duties as the Minister may from time to time direct.

(12) A person appointed under this section shall be subject to and employed in accordance with the Civil Service Regulation Acts 1956 to 2005 and the Ethics in Public Office Acts 1995 and 2001.

(13) (a) The Minister shall, by order, appoint a day (in this section referred to as the “appointment day”) for the purposes of this section.

(b) For the purposes of paragraph (a), the Minister may appoint different appointment days in respect of different classes of person designated under this section.

(14) In this section:

“Act of 2003” means the Protection of Employees (Fixed-Term Work) Act 2003;

“Act of 2004” means the Public Service Management (Recruitment and Appointments) Act 2004;

“Civil Service” has the meaning assigned to it by the Act of 2004;

“contract of employment” has the meaning assigned to it by the Act of 2003;

“fixed-term employee” has the meaning assigned to it by the Act of 2003;

“recognised trade union or staff association” means a trade union or staff association recognised by the Minister for the purposes of negotiations which are concerned with the remuneration or conditions of employment, or the working conditions of employees;

“unestablished position” has the meaning assigned to it by the Act of 2004.

39.. Amendment to section 208 of Principal Act.

39.— Section 208 of the Principal Act is amended—

(a) in subsection (1), by substituting “Subject to subsection (4), all property” for “All property”,

(b) in subsection (2), by substituting “Subject to subsection (4), every chose-in-action” for “Every chose-in-action”,

(c) in subsection (3), by substituting “Subject to subsection (4), every bond” for “Every bond”, and

(d) by inserting the following subsection after subsection (3):

“(4) This section shall not apply to any property, chose-in-action, bond, guarantee or other security of a continuing character that is designated and transferred under Part 4 of the Social Welfare and Pensions Act 2010.”.

PART 5 Approval of Certain Policies or Contracts of Assurance

40.. Definition.

40.— In this Part “Principal Act” means the Pensions Act 1990.

41.. Amendment of section 48 of Principal Act.

41.— The Principal Act is amended in section 48 by substituting the following for paragraph (b) of subsection (3):

“(b) the making of one or more payments under policies or contracts of assurance that are effected on behalf of the member with one or more undertakings (within the meaning of the Insurance Act 1989) which policies or contracts are approved—

(i) by the Revenue Commissioners under Chapter 1 of Part 30 of the Taxes Consolidation Act 1997, or

(ii) by the Board under section 53B (inserted by section 42 of the Social Welfare and Pensions Act 2010),

and which policies or contracts of assurance shall not be deemed to be an occupational pension scheme for the purposes of this Act, or”.

42.. New Part IVA of Principal Act.

42.— The Principal Act is amended by inserting the following Part after Part IV:

“PART IVA

Approval of Certain Policies or Contracts of Assurance

Definition.

53A.— In this Part ‘undertaking’ means an undertaking within the meaning of the Insurance Act 1989.

Approval of policy or contract of assurance for discharge of benefits.

53B.— (1) The Board may approve a policy or contract of assurance, submitted to the Board by an undertaking in that behalf, in respect of schemes that are approved by the Revenue Commissioners under Chapter 1 of Part 30 of the Taxes Consolidation Act 1997, where it is satisfied that the policy or contract of assurance secures the benefits payable—

(a) to the scheme in respect of a person who under the scheme—

(i) is receiving benefits, or

(ii) has reached normal pensionable age,

or

(b) to or in respect of a person who under a scheme—

(i) is receiving benefits, or

(ii) has reached normal pensionable age.

(2) For the purpose of obtaining approval under subsection (1) an undertaking shall furnish to the Board such information in such form as may be prescribed for the purposes of this section.

(3) A policy or contract of assurance referred to in subsection (1) may include a policy or contract of assurance which is referenced by—

(a) securities issued under section 54(1) of the Finance Act 1970 and known as bonds, or

(b) securities issued under the laws of a Member State (other than the State) that correspond to securities referred to inparagraph (a).

Register of Policies or Contracts of Assurance approved under section 53B.

53C.— The Board shall—

(a) keep a register in which there shall be entered such particulars as may be prescribed, for the purposes of this Part, in relation to policies or contracts of assurance that have been approved under section 53B and such register shall be open for inspection by any member of the public at all reasonable times on payment of such fee as the Board may determine, and

(b) maintain, in accordance with regulations, an up to date database of information relating to particulars referred to in paragraph (a).

Existing Policies or Contracts of Assurance.

53D.— (1) A policy or contract of assurance that has been approved by the Revenue Commissioners under Chapter 1 of Part 30 of the Taxes Consolidation Act 1997 shall, on the coming into operation of section 53B, be deemed to have been approved by the Board under that section.

(2) An undertaking shall, not later than 60 days after the coming into operation of section 53B, furnish information as may be prescribed, for the purposes of this section, to the Board in relation to a policy or contract of assurance referred to insubsection (1).”.

43.. Amendment of section 59 of Principal Act.

43.— The Principal Act is amended in section 59 by inserting the following subsections after subsection (2):

“(3) The trustees of a scheme may, at any time, notwithstanding anything contained in the rules of the scheme and without the consent of the members—

(a) make one or more payments on behalf of the scheme to a policy or contract of assurance approved by the Board under section 53B whereby all sums payable under such policy or contract will as and when received by the trustees, be held by them upon trust for the purposes of the scheme,

(b) discharge the liability of the scheme for some or all of the benefits payable to or in respect of a person—

(i) receiving benefits under the scheme, or

(ii) who has reached normal pensionable age,

by making on behalf of that person, one or more than one payment to a policy or contract of assurance approved by the Board under section 53B.

(4) If, in any proceedings brought against a trustee of a scheme for breach of trust in relation to the performance by him or her of a function conferred under subsection (3), it appears to the court hearing the case that the trustee is or may be liable in respect of the breach of trust but that he or she acted honestly and reasonably and that having regard to all of the circumstances of the case he or she ought fairly to be excused for the breach of trust, the court may relieve him or her in whole or in part from his or her liability on such terms as the court deems appropriate.”.

44.. Amendment of Taxes Consolidation Act 1997.

44.— The Taxes Consolidation Act 1997 is amended in section 772 by inserting the following subsection after subsection (3F):

“(3G) A retirement benefits scheme shall not cease to be an approved scheme where the trustees of the scheme, notwithstanding anything contained in the rules of the scheme as approved, discharge liabilities of the scheme under section 59(3) of the Principal Act (inserted by section 43 of the Social Welfare and Pensions Act 2010).”.

45.. Collective citation and commencement.

45.— (1) The Pensions Acts 1990 to 2009 and this Part may be cited together as the Pensions Acts 1990 to 2010.

(2) This Part shall come into operation on 1 January2011.