S.I. No. 343/2022 - Córas Iompair Éireann Pension Scheme for Regular Wages Staff (Amendment) Scheme (Confirmation) Order 2022

17.1 Subject to the consent of the Board as to the individual selected, the Trustees shall from time to time appoint one of the staff of the Board to act as Secretary to the Scheme and may at any time with the like consent remove the person so appointed from his or her office and replace him or her.

17.2 Whenever necessary, the Trustees may, subject to the consent of the Board, appoint a member of the staff of the Board to act as a temporary substitute for the Secretary.

17.3 The Secretary shall act generally under the orders of the board of Trustees. In addition to any duties expressly assigned to him or her by other provisions of the Scheme he or she shall perform the following duties:

• (a) he or she shall, at the behest of the Chairperson but without prejudice to Rule 16.1(b), convene Trustee meetings;

• (b) he or she shall act as secretary for the meetings of the Trustees and he or she shall prepare draft minutes of such Trustee meetings for approval by the Trustees and signature by the Chairperson at a subsequent meeting of the Trustees;

• (c) he or she shall keep all records, minutes and accounts relating to the Fund, the Scheme and the business of the Trustees;

• (d) he or she shall receive and report or cause to be reported to the Trustees in a manner agreed with the Trustees, on a quarterly basis, all applications for benefits from the Fund and he or she shall bring, or cause to be brought, before the Trustees all matters properly to be considered by them;

• (e) he or she shall make arrangements for accounts relating to the Fund to be kept;

• (f) he or she shall be responsible for submitting the accounts of the Fund to the Auditor; and

• (g) any other duties in relation to the Scheme which the Trustees shall reasonably require of him or her.

17.4 The Board shall appoint a person to be the Secretary for the purposes of the first election of Member Elected Trustees and he or she shall remain in office until the appointment of a permanent Secretary in accordance with sub-Rule 17.1 by the Trustees at their first meeting.

18.1 To the extent required by the Pensions Act and in accordance with the requirements thereof, the Trustees shall put in place the following key functions (“Key Functions”):

• (a) a risk management function in accordance with Rule 18.2; and

• (b) an internal audit function in accordance with Rule 18.3,

and:

• (i) the internal audit function shall be independent of the risk management function and shall be carried out by a person who does not carry out the risk management function; and

• (ii) a person carrying out a Key Function for the Scheme shall not carry out the same Key Function for any of the Associated Employers unless, taking into account the size, nature, scale and complexity of the activities of the Scheme, the Trustees allow the same person or persons to do so where they have a written protocol explaining satisfactorily how any conflicts of interest between the Scheme and the Employer are to be prevented or managed.

A person or persons who carries out a Key Function shall report any material findings and recommendations in respect of the Key Function concerned to the Trustees whereupon the Trustees shall determine what action is to be taken. The Trustees shall enable the holders of Key Functions to undertake their duties effectively in an objective, fair and independent manner.

18.2 Risk Management Function

• (a) To the extent required by the Pensions Act, in accordance with the requirements of section 64AI of the Pensions Act and Rule 18.1, the Trustees shall establish and maintain a risk management function:

• (i) proportionate to the size of the Scheme and to the size, nature, scale and complexity of the activities of the Scheme; and

• (ii) structured so as to facilitate the functioning of a risk management system for which the Trustees shall adopt strategies, processes and reporting procedures necessary to ensure that the risks to which the Scheme is or could be exposed can be identified, measured, monitored, managed and be regularly reported on to the Trustees so that the risk management system is effective and well integrated into the organisational structure and the decision-making processes of the Scheme.

• (b) To the extent required by the Pensions Act, the Trustees shall appoint a risk manager who shall be a person:

• (i) whose professional qualifications, knowledge and experience are adequate to carry out properly the risk management functions of an occupational pension scheme,

• (ii) of good repute and integrity

for the purposes of maintaining the risk management function and otherwise as may be prescribed by the Pensions Act.

18.3 To the extent required by the Pensions Act,

• (a) In accordance with the requirements of section 64AJ of the Pensions Act and Rule 18.1, the Trustees shall establish and maintain an effective internal audit function which shall include an evaluation of the adequacy and effectiveness of the internal control system and other elements of the systems of governance including, where relevant, outsourced activities.

• (b) The Trustees shall appoint a person or persons to effect an internal audit function:

• (i) whose professional qualifications, knowledge and experience are adequate to carry out properly the internal audit of an occupational pension scheme; and

• (ii) of good repute and integrity.

18.4 Actuary

The Trustees shall appoint the Actuary who shall be a person:

• (a) whose professional qualifications, knowledge and experience are adequate to carry out properly the actuarial functions of an occupational pension scheme for the purposes of the Pensions Act; and

• (b) of good repute and integrity

for the purposes of complying with the Pensions Act including the Occupational Pension Schemes (Disclosure of Information) Regulations, and otherwise with prescribed professional standards.

18.5 Auditor

The Trustees shall appoint the Auditor, who shall be a person:

• (a) whose professional qualifications, knowledge and experience are adequate to carry out properly the functions of auditor of an occupational pension scheme;

• (b) who is not disqualified from being an auditor pursuant to sub-Article (6) of Regulation 5 of the Occupational Pension Schemes (Disclosure of Information) Regulations; and

• (c) of good repute and integrity

for the purposes prescribed by the Pensions Act including compliance with the requirements of the Occupational Pension Schemes (Disclosure of Information) Regulations.

18.6 Registered Administrator

The Trustees shall appoint one or more Registered Administrators, each of which shall be a body:

• (a) registered as such with the Pensions Authority in accordance with the requirements set out in Part VIA of the Pensions Act;

• (b) employing, for this purpose, persons whose professional qualifications, knowledge and experience are adequate to carry out properly the functions of the registered administrator of an occupational pension scheme; and

• (c) of good repute and integrity

for the purposes set out in section 64G of the Pensions Act, and otherwise as may be prescribed by the Pensions Act and as may be agreed with the Trustees.

18.7 Appointment of an administrator

The Board shall, in consultation with the Trustees, and having due regard to the views of the Trustees, appoint an administrator to the Scheme, which shall be a body employing for this purpose persons whose professional qualifications, knowledge and experience are adequate to carry out properly the functions of the administrator of an occupational pension scheme.

18.8 Remuneration Policy

• (a) To the extent required by the Pensions Act, in accordance with the requirements of section 64AG of the Pensions Act, the Trustees shall establish and apply a remuneration policy in respect of:

• (i) the Trustees (other than Trustees who are elected by the Members in accordance with Rule 12);

• (ii) persons who carry out Key Functions under Rule 18.1;

• (iii) other categories of staff employed by the Trustees whose professional activities have a material impact on the risk profile of the Scheme; and

• (iv) a service provider referred to in Rule 18.1 to whom a key function, or other activity referred to therein, is outsourced (unless such service provider is covered by the Directives specified in Section 64AG(4)(e) of the Pensions Act)

(the “Remuneration Policy”) which shall be proportionate to the size and internal organisation of the Scheme and the size, nature, scale and complexity of the activities of the Scheme and the Remuneration Policy shall provide for clear, transparent and effective governance with regard to remuneration, include measures aimed at avoiding conflicts of interest and shall support the Scheme’s sound, prudent and effective management.

• (b) The Remuneration Policy shall provide that the Trustees shall review and update the Remuneration Policy at least once every three years.

• (c) Without prejudice to section 54(1)(b) of the Pension Act, unless otherwise provided under applicable law relating to data protection including the General Data Protection Regulation (Regulation (EU) 2016/679) and the Data Protection Act 2018 (No. 7 of 2018) the Trustees shall disclose relevant information regarding their remuneration policy.

18.9 Outsourcing of Key Functions and other services

To the extent required by the Pensions Act, in accordance with sections 64AM of the Pensions Act, the Trustees may enter into a written arrangement to outsource any activity, including:

• (a) a Key Function, and

• (b) the management of the Scheme,

whether in whole or in part, to a person or body who shall employ for this purpose persons whose professional qualifications, knowledge and experience are adequate to carry out properly the functions on behalf of the Scheme in respect of such activity PROVIDED THAT:

• (i) the Trustees shall satisfy themselves that the arrangement entered into by them shall not be undertaken in a manner that would lead to any of the following:

• (A) impairing the quality of the Scheme’s system of governance;

• (B) unduly increasing the operational risk to the Scheme;

• (C) impairing the ability of the Pensions Authority to monitor the compliance of the Scheme with its obligations under the Pensions Act; and

• (D) undermining the continuous and satisfactory service to Members and beneficiaries of the Scheme,

• (ii) where an arrangement concerns the outsourcing of a Key Function under Rule 18.1, the Trustees shall notify the Pensions Authority before the agreement in respect of that arrangement enters into force; and

• (iii) where an arrangement is one other than an arrangement which concerns the outsourcing of a Key Function under Rule 18.1, the Trustees shall notify the Pensions Authority of the making of the arrangement not later than 4 weeks from the making of that arrangement.

and the Trustees shall, as soon as practicable, notify the Pensions Authority of any subsequent important developments with respect to any outsourced activities. The Trustees shall, notwithstanding entry into any such arrangement, be responsible for compliance with their obligations under the Pensions Act in respect of any Key Function or any other outsourced activity within the meaning of the sections referred to in this Rule.

PART 5 MEMBERSHIP AND CONTRIBUTIONS

19.1 Eligibility for membership prior to the Operative Date

• (a) No person under twenty years of age may be or become a Member of this Scheme. If an employee is appointed to the Regular Wages Staff before reaching twenty years of age, he or she shall, provided he or she is retained in the service of the Board on the Regular Wages Staff, become a Member of the Scheme immediately he or she attains that age.

• (b) Save in accordance with Rule 19.2(c)(ii), no person of fifty one years of age or over can become a Member of this Scheme.

• (c) No person who ceases or who has ceased to be a Member shall be readmitted to membership save in accordance with the provisions of Rule 22.

• (d) Subject as aforesaid a Resident Railway Level-Crossing Keeper in the employment of the Board on 28 April 1995 shall not become a Member unless, at the absolute discretion of the Board, and within a time and in a manner specified by the Board, he or she is offered and exercises an option to become a Member.

• (e) Subject to Rule 37 and Rule 40, a Member who ceases to be employed by the Board on its Regular Wages Staff shall cease to be a Member.

• (f) Membership of the Scheme is not to be taken as conferring or implying any security of tenure.

19.2 Eligibility for Membership on and from the Operative Date

• (a) No person under twenty years of age may be or become a Member of the Scheme. If a person is appointed to the Regular Wages Staff before reaching twenty years of age, he or she shall, provided he or she is retained in the service of the Board on the Regular Wages Staff, become a Member of the Scheme immediately he or she attains that age.

• (b) Every permanent employee appointed to the Regular Wages Staff:

• (i) on and after the Operative Date, in the case of employees who are not New Entrants;

• (ii) in the case of New Entrants,

shall become and be a Member immediately upon the making of such appointment.

• (c) With effect on and from the Operative Date:

• (i) a person who joins the service of the Board shall be eligible (subject to other applicable eligibility requirements set out in the Rules) to become a Member of the Scheme as a New Entrant; and

• (ii) a person who joined the service of the Board prior to the Operative Date and was then ineligible for membership as a consequence of being over the maximum age for entry to the Scheme, shall be eligible (subject to other applicable eligibility requirements set out in the Rules) to become a Member of the Scheme as a New Entrant.

• (d) No person who ceases or who has ceased to be a Member shall be readmitted to membership save in accordance with Rule 22.

• (e) Subject as aforesaid a Resident Railway Level-Crossing Keeper in the employment of the Board on and after 28 April 1995 shall not become a Member unless, at the absolute discretion of the Board, and within a time and in a manner specified by the Board, he or she is offered and he or she exercises an option to become a Member.

• (f) Subject to Rule 37 and Rule 40, a Member who ceases to be employed by the Board on its Regular Wages Staff shall cease to be a Member.

• (g) Membership of the Scheme is not to be taken as conferring or implying any security of tenure.

• (h) Each Member who joins on and after the Operative Date and each New Entrant shall:

• (i) on being appointed as Regular Wages Staff or otherwise admitted to membership of the Scheme and the Spouses’ and Children’s Scheme, pay contributions to the Fund in accordance with Rule 21 and Rule 10 of the Spouses’ and Children’s Scheme; and

• (ii) as soon as practicable, provide to the Secretary in the form prescribed by the Trustees:

• (A) any information or evidence necessary to establish his or her entitlement to be admitted to the Scheme and the Spouses’ and Children’s Scheme,

• (B) any information or evidence required for the administration of the Scheme and the Spouses’ and Children’s Scheme in respect of him or her, and

• (C) any necessary authority to the Board for the deduction of contributions to the Scheme and the Spouses’ and Children’s Scheme from pay, or any other authority to the Board or the Trustees which may be necessary for the administration of the Scheme and the Spouses’ and Children’s Scheme in respect of him or her.

19.3 Information

If any information, authority or evidence required of a person by the Trustees for the purposes of the Scheme or the Spouses’ and Children’s Scheme is not provided, or if any information or evidence proves to be inaccurate, the Trustees may:

• (a) cancel the membership of the person concerned with retrospective effect to the date of admission; or

• (b) confirm the membership of the person concerned with retrospective effect to the date of admission but, with the advice of the Actuary where actuarial calculations are required, alter the amount of or the terms applicable to, or withhold or cease payment of, any benefit payable under the Scheme as respects the person concerned.

19.4 If at any time a person receives payments on foot of a pension under this Scheme and such person is not entitled under this Scheme to such payments, or if a person receives payments on foot of a pension which exceed those which are appropriate under this Scheme, such person or, in case such person is dead, the legal personal representative of such person, shall pay to the Fund on demand such payments or excess payments as may be appropriate, and such payments or excess payments shall in default of payment be recoverable by the Trustees as a simple contract debt in any court of competent jurisdiction.

20.1 In every year there shall be a contribution from the Board to the Fund of such sum as the Board after consulting the Actuary determines to be necessary to support and maintain the solvency of the Fund.

20.2 The contributions by the Board to the Fund in any year shall be paid to the Trustees for the purposes of the Scheme and may be so paid by one payment or in equal or unequal instalments and at such time or times as shall appear expedient to the Board.

20.3 Notwithstanding the foregoing, the Board retains the right to vary the contributions payable by the Members and, in particular if the contribution determined by the Board pursuant to Rule 20.1 to be necessary to support and maintain the solvency of the Fund will in any period exceed 2.7 times the contributions payable by the Members during that period, the contributions payable by the Board and the Members shall be reviewed.

20.4 The Board will bear the balance of the cost of this Scheme.

21.1 Every Member shall be liable to contribute to this Scheme from the date of admission to membership of the Scheme at his or her appropriate rate under Table A or the Revised Table A (as applicable). Contributions shall be deducted from the Member’s wages or sickness benefit.

21.2 Any Member who is a Job Sharing Employee shall in addition to the contributions payable by him or her under Table A or Revised Table A (as applicable) pay such additional weekly contributions as shall be notified from time to time by the Board which are necessary to fund the benefits attributable to his or her Scheme Membership.

21.3 The contributions of the Members to the cost of the Scheme shall be paid to the Trustees for the purposes of the Scheme.

21.4 In the event of Members not having contributed or having contributed at a rate lower than that rightfully payable by them, the amount thus due by each Member in respect of arrears of contribution shall be discharged by deducting (in addition to the current contributions) the difference between the present and former rate (if any) of contribution from his or her wages or sickness benefit until the said amount shall have been fully paid off.

21.5 If any contribution is not so deducted as aforesaid, it may be recovered by being deducted from any money payable by the Fund to the Member or pensioner or to the personal representative of a deceased Member or pensioner or it shall be paid into the Fund by the Member or pensioner or by the personal representative of a deceased Member or pensioner liable to pay the same in accordance with any directions of the Trustees in that behalf.

21.6 All Members shall contribute by payment into the Fund at the rates determined by reference to either Table A or Revised Table A, as applicable.

TABLE A

applicable to Members who ceased to be in Company Service by leaving the Board’s service, on retirement, death or promotion (subject to Rule 40.7) in each case before 9 June 2020

		Weekly Pensions	Weekly Pensions	Weekly Pensions	Total Payments	Weekly Employee Contributions
Basic Weekly Wage*	Basic Weekly Wage*	For Life	Alternative Rate	Alternative Rate
			For 5 years Age 65-70	Thereafter for Life
(1)	(1)	(2)	(3)	(4)	(5)	(6)
€ per week		€ p.w.	€ p.w.	€ p.w.	€ p.w.	€ p.w.
Not Exceeding	Not Exceeding
	107.93	20.95	21.50	20.54	5447.00	2.63
107.94	114.28	22.22	22.77	21.81	5777.20	2.82
114.29	120.63	23.49	24.04	23.08	6107.40	3.01
120.64	126.98	24.76	25.31	24.35	6437.60	3.20
126.99	133.33	26.03	26.58	25.62	6768.80	3.39
133.34	139.68	27.30	27.85	26.89	7098.00	3.58
139.69	146.03	28.57	29.12	28.16	7428.20	3.77
146.04	152.38	29.84	30.39	29.43	7758.40	3.96
152.39	158.73	31.11	31.66	30.70	8088.60	4.15
158.74	165.08	32.38	32.93	31.97	8418.80	4.34
165.09	171.43	33.65	34.20	33.24	8749.00	4.53
171.44	177.48	34.92	35.47	34.51	9079.20	4.72
177.79	184.13	36.19	36.74	35.78	9409.40	4.91
184.14	190.48	37.46	38.01	37.05	9739.60	5.10
190.49	196.83	38.73	39.28	38.32	10069.80	5.29
196.84	203.18	40.00	40.55	39.59	10400.00	5.48
203.19	209.53	41.27	41.82	40.86	10730.20	5.67
209.54	215.88	42.54	43.09	42.13	11060.40	5.86
215.89	222.23	43.81	44.36	43.40	11390.60	6.05
222.24	228.58	45.08	45.63	44.67	11720.80	6.24
228.59	234.93	46.35	46.90	45.94	12051.00	6.43
234.94	241.28	47.62	48.17	47.21	12381.20	6.62
241.29	247.63	48.89	49.44	48.48	12711.40	6.81
247.64	253.98	50.16	50.71	49.75	13041.60	7.00
253.99	260.33	51.43	51.98	51.02	13371.80	7.19
		Plus 1.27 times X	Plus 1.27 times X	Plus 1.27 times X	Plus 260 times the Weekly Pension for Life (i.e. Col. No. 2)	Plus 0.19 times X

and for the purposes of this Table A “X” means the number of complete units of €6.35 by which the Basic Weekly Wage exceeds €260.34. (Basic Weekly Wage Bands move in €6.35 amounts).

REVISED TABLE A

applicable to Members including New Entrant Members on and with effect from 9 June 2020

Pensionable Salary divided by 52	Pensionable Salary divided by 52	Weekly Pension For Life	Total Payments	Weekly Employee Contributions
(1)	(1)	(2)	(3)	(4)
€ per week		€ p.w.	€ p.w.	€ p.w.
Not Exceeding	Not Exceeding
	107.93	21.50	5590.00	2.63
107.94	114.28	22.77	5920.20	2.82
114.29	120.63	24.04	6250.40	3.01
120.64	126.98	25.31	6580.60	3.20
126.99	133.33	26.58	6910.80	3.39
133.34	139.68	27.85	7241.00	3.58
139.69	146.03	29.12	7571.20	3.77
146.04	152.38	30.39	7901.40	3.96
152.39	158.73	31.66	8231.60	4.15
158.74	165.08	32.93	8561.80	4.34
165.09	171.43	34.20	8892.00	4.53
171.44	177.48	35.47	9222.20	4.72
177.79	184.13	36.74	9552.40	4.91
184.14	190.48	38.01	9882.60	5.10
190.49	196.83	39.28	10212.80	5.29
196.84	203.18	40.55	10543.00	5.48
203.19	209.53	41.82	10873.20	5.67
209.54	215.88	43.09	11203.40	5.86
215.89	222.23	44.36	11533.60	6.05
222.24	228.58	45.63	11863.80	6.24
228.59	234.93	46.90	12194.00	6.43
234.94	241.28	48.17	12524.20	6.62
241.29	247.63	49.44	12854.40	6.81
247.64	253.98	50.71	13184.60	7.00
253.99	260.33	51.98	13514.80	7.19
		Plus 1.27 times X	Plus 260 times the Weekly Pension for Life (i.e. Col. No. 2)	Plus 0.19 times X

and for the purposes of this Revised Table A, “X” means the number of complete units of €6.35 by which the Basic Weekly Wage exceeds €260.34. (Basic Weekly Wage Bands move in €6.35 amounts).

22.1 Any Member of this Scheme who ceases to be employed by the Board (otherwise than in accordance with Rule 37 or due to his or her death in service) without becoming entitled to any pension and without becoming entitled to a Vested Benefit shall receive a refund of his or her contributions without interest subject to the provisions of sub-Rule 22.5 and subject to the deduction of tax at the appropriate rate pursuant to the Taxes Consolidation Act.

22.2 Any refund of contributions payable to a Member or former Member shall, if he or she had previously received a reduced pension, be reduced by such amount as the Actuary shall recommend.

22.3 If any former Member of the Scheme who has received a refund of his or her contributions pursuant to sub-Rule 36.1 or who is entitled to a Vested Benefit is subsequently re-employed by the Board he or she shall, if and when he or she is reappointed to the Regular Wages Staff, not be entitled merely by reason of such reappointment to be readmitted to membership of the Scheme, but the Board may, at its discretion, and whether or not such former Member exceeds the age limit therein prescribed, readmit him or her to membership upon such terms and conditions as the Board may think proper, including, if the Board so thinks fit, a condition that such former Member shall pay an amount into the Fund equivalent to the total contributions (including the amount of any contributions already refunded together with compound interest at such rate as the Board thinks appropriate) which he or she would have made to the Fund had he or she continued in the service of the Board without interruption.

22.4 Upon readmission of any former Member under the provisions of this sub-Rule, the Board may direct that his or her service shall, for the purpose of the Scheme, be deemed to have been continuous notwithstanding its interruption. Any existing entitlement to a Vested Benefit shall be extinguished save that the amount of the benefits to which he or she subsequently becomes entitled shall be increased if necessary so that they are, in the opinion of the Actuary, at least equivalent to the Vested Benefit which he or she would, but for this sub-Rule, have received.

22.5 The amount of any refund of contribution directed by this Rule shall be paid out of the Fund by the Trustees, but, if the Board notifies the Trustees that a debt is due to the Board from the Member or deceased Member who made the contributions, the Trustees shall either pay such debt to the Board and pay the balance to the recipient of the refund or, where the amount of the refund does not exceed the debt, pay the said amount to the Board.

PART 6 BENEFITS

23.1 In respect of a Member who retires at Normal Age of Retirement prior to 9 June 2020, he or she shall, on retirement, be paid a yearly pension for life equal to the amounts determined by reference to column (2) of Table A or, at the Member’s election, an alternative rate by reference to column (3) of Table A until age 70 and a lower pension based on the rates in column (4) of Table A thereafter.

23.2 In respect of a Member who retires at Normal Age of Retirement on or after 9 June 2020 and who is not a New Entrant, he or she shall, on retirement, be paid a yearly pension for life equal to the amounts determined by reference to column (2) of Revised Table A.

23.3 In respect of any pension payable to a Member who is a New Entrant, subject to Rule 32, such a Member who retires at Normal Age of Retirement shall, on retirement, be paid a yearly pension for life equal to 1/150th of Pensionable Salary multiplied by his or her Service subject to a maximum equal to the lesser of:

• (a) 30/150^ths of his or her Pensionable Salary; and

• (b) the capital value of the Standard Fund Threshold (as defined in the Taxes Consolidation Act) from time to time.

24.1 When a Member retiring from Pensionable Service or leaving service does so on or after 1 April 2016 but before 9 June 2020, the retirement gratuity (before the deduction of any previously received gratuity) shall be calculated in accordance with the following Retirement Gratuity Table:

RETIREMENT GRATUITY TABLE

applicable to persons retiring after 1 April 2016 and before 9 June 2020

Scheme Membership at date of retirement	Multiple of weekly rate of pension on retirement before age 66	Multiple of weekly rate of pension on retirement at age 66
Less than 20 years	115	125
20 years	145	155
21 years	150	160
22 years	155	165
23 years	160	170
24 years	166	176
25 years	172	182
26 years	178	188
27 years	183	193
28 years	190	200
29 years	196	206
30 years	200	210
31 years	207	217
32 years	215	225
33 years	220	230
34 years	225	235
35 years	230	240
36 years and over	235	245

24.2 When a Member retiring from Pensionable Service or leaving service does so on or after 9 June 2020, the retirement gratuity (before the deduction of any previously received gratuity) shall be calculated in accordance with the following Revised Retirement Gratuity Table:

REVISED RETIREMENT GRATUITY TABLE

applicable to persons retiring on and after 9 June 2020

Scheme Membership at date of retirement	Multiple of weekly rate of pension on retirement before age 66	Multiple of weekly rate of pension on retirement at age 66	Multiple of weekly rate of pension on retirement at State Pension Age
Less than 20 years	154	164	164
20 years	194	204	204
21 years	201	211	211
22 years	208	218	218
23 years	214	224	224
24 years	223	233	233
25 years	231	241	241
26 years	239	249	249
27 years	245	255	255
28 years	255	265	265
29 years	263	273	273
30 years	268	278	278
31 years	277	287	287
32 years	288	298	298
33 years	295	305	305
34 years	302	312	312
35 years	308	318	318
36 years and over	315	325	325

25.1 Ill-health

• (a) If the employment of any Member having not less than ten years’ Company Service is terminated by the Board on the grounds of his or her ill-health (including any bodily or mental disability) not resulting, in the opinion of the Board, from the Member’s own misconduct, such Member shall be entitled to a reduced pension payable weekly and calculated:

• (i) where the Member’s service is terminated prior to 9 June 2020 as such part of the appropriate alternative rate in column (3) of Table A (until age 70 and a lower pension based on the rates in column (4) of Table A thereafter as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the age of 65;

• (ii) subject to sub-paragraph (iii), where the Member’s service is terminated on or after 9 June 2020 and the Member is not a New Entrant, by reference to such part of the rate in column (2) of Revised Table A as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the Normal Age of Retirement;

• (iii) where the service of a Member who is a New Entrant, is terminated, such part of his or her Pension at the Normal Age of Retirement as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the Normal Age of Retirement;

and, in each case, a retirement gratuity calculated in accordance with Rule 24.

• (b) A former Member of this Scheme, who:

• (i) is a member of the Córas Iompair Éireann Superannuation Scheme 1951;

• (ii) has his or her service terminated by the Board on the grounds of his or her ill-health;

• (iii) is entitled to ill-health benefits from the Córas Iompair Éireann Superannuation Scheme 1951; and

• (iv) would, on attaining preserved pension age, be eligible to receive a preserved pension and preserved lump sum,

will, notwithstanding that he or she has not attained preserved pension age and subject to the consent of the Trustees, be eligible to have paid from the Scheme a preserved pension and preserved lump sum, subject to such adjustments as the Actuary determines are equitable to reflect ill-health early payment, with effect from the same date or dates as his or her ill-health benefits are paid from the Córas Iompair Éireann Superannuation Scheme 1951.

25.2 Meritorious reason other than ill-health

If any Member, having not less than twenty years’ Company Service, leaves the Board’s employment at any time within ten years of his or her reaching Normal Age of Retirement for reasons other than ill-health the Board may, at its discretion, if it considers the reason for his or her so leaving to have been sufficiently meritorious, award such Member:

• (a) a Reduced Pension at the like rate as would apply if his or her employment had been determined on grounds of ill-health; and

• (b) a retirement gratuity calculated in accordance with Rule 24.

and if an additional contribution to the Fund is required to meet the cost of providing a Reduced Pension and retirement gratuity under paragraphs (a) and (b) 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.

25.3 Redundancy

• (a) A Member having not less than 10 years’ Company Service whose services are dispensed with:

• (i) on or after 17 January 2018 and before 17 January 2022; or

• (ii) with effect from 17 January 2022, on or after 17 January 2022 and before 17 January 2026

because of redundancy arising from any scheme for the reorganisation or more economical operation of any department of the Board’s undertaking, he or she then being aged 55 years or older may, if the Board so agrees, be granted:

• (A) a Reduced Pension calculated as:

• (1) in the case of a Member whose services are dispensed with prior to 9 June 2020, such part of the appropriate alternative rate in column (3) of Table A until age 70 and a lower pension based on the rates in column (4) of Table A thereafter as is proportionate to the ratio which the number of years of Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until age 65; and

• (2) in the case of a Member who is not a New Entrant and whose services are dispensed with on or after 9 June 2020, such part of the appropriate rate in column (2) of Revised Table A as is proportionate to the ratio which the number of years of Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until his or her Normal Age of Retirement;

• (3) in the case of a Member who is a New Entrant and whose services are dispensed with, such part of his or her Pension at his or her Normal Age of Retirement as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the Normal Age of Retirement; and

• (B) a retirement gratuity calculated in accordance with Rule 24.

• (b) A Member having not less than 10 years’ Company Service whose services are dispensed with:

• (i) on or after 17 January 1995 and before 17 January 2022; and

• (ii) with effect from 17 January 2022, on or after 17 January 2022 and before 17 January 2026

for the cause specified in paragraph (a), he or she being then between the ages of 50 and 55 years, may, if the Board so agrees be granted:

• (A) a Reduced Pension and retirement gratuity deferred to and payable from the date on which he or she attains the age of 55 years. The Reduced Pension shall be calculated:

• (1) in the case of a Member whose services are dispensed with prior to 9 June 2020, such part of the appropriate alternative rate in column (3) of Table A until age 70 and a lower pension based on the rates in column (4) of Table A thereafter as is proportionate to the ratio which the number of years of Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until age 65; and

• (2) in the case of a Member who is not a New Entrant and whose services are dispensed with on or after 9 June 2020, such part of the appropriate rate in column (2) of Revised Table A as is proportionate to the ratio which the number of years of Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until his or her Normal Age of Retirement;

• (3) in the case of a Member, who is a New Entrant, and whose services are dispensed, such part of his or her Pension at the Normal Age of Retirement as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the Normal Age of Retirement; and

• (B) a retirement gratuity calculated in accordance with Rule 24.

• (c) If an additional contribution to the Fund is required to meet the cost of providing a Reduced Pension and retirement gratuity pursuant to paragraphs (a) and (b) 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.

25.4 Re-employment

If any former Member of the Scheme in receipt of a Reduced Pension is re-employed by the Board, he or she shall, if and when he or she is re-appointed to the Regular Wages Staff or, with effect from 9 June 2020, is re-appointed to a grade outside the Regular Wages Staff but he or she is not entitled to join the Córas Iompair Éireann Superannuation Scheme 1951, surrender and forfeit all then present and future rights to payment of any such Reduced Pension as aforesaid and shall, notwithstanding his or her age, be thereupon readmitted to membership of the Scheme and become liable to contribute to the Fund at the rate hereinbefore provided and shall, notwithstanding his or her earlier retirement, be entitled to all the benefits hereof including (in the case of a pensioner re-employed because of recovery of health) a Reduced Pension hereunder if he or she should again cease, before the Normal Age of Retirement, to be employed by reason of ill-health.

26.1 If a Member dies while in the service of the Board and before retiring on pension having not more than 26 and 2/3rds years of membership, a lump sum shall be paid to his or her personal representative calculated at 52 times the Basic Weekly Wage of which the Member was in receipt at the date of his or her death or immediately prior to the commencement of sickness benefit as the case may be.

26.2 If a Member dies while in the service of the Board and before retiring on pension having more than 26 and 2/3rds years of membership, a lump sum shall be paid to his or her personal representative calculated at 3/80ths of 52 times the Basic Weekly Wage of which the Member was in receipt at the date of his or her death or immediately prior to the commencement of sickness benefit for each year of membership, subject to a maximum of 120/80ths.

26.3 The said lump sum shall be reduced by the amount of any mortality grant paid or payable out of the Board’s Welfare Scheme for Regular Wages Staff and the Member’s contributions to the Fund shall not be returned.

26.4 For the purposes of this Rule, a Member who was at any time a Job Sharing Employee shall be treated for the purposes of this membership as if he or she had at all times been a Full Time Employee.

Upon the death, within five years from the date of his or her retirement, of a pensioner receiving or entitled to receive a Full Pension there shall be paid to his or her personal representative in discharge of all further obligations of the Fund a lump sum equal to the appropriate Weekly Pension for Life being:

• (a) in the case of a Member who retired prior to 9 June 2020 column (2) of Table A or

• (b) in the case of a Member who retired on or after 9 June 2020, column (2) of Revised Table A

multiplied by 260 less the total payments in respect of the pension then already made PROVIDED THAT a lump sum shall not be payable pursuant to this Rule 27 if the pensioner was a member of the Spouses’ and Children’s Scheme and at the date of his or her death was survived by a spouse (which shall comprehend a Civil Partner) or child or children within the meaning of the aforementioned scheme.

Upon the death, within five years after the date from the date of the retirement of a pensioner receiving or entitled to receive a Reduced Pension, there shall be paid to his or her personal representative in discharge of all further obligations of the Fund a lump sum equal to the relevant portion of the appropriate Weekly Pension for Life being:

• (a) in the case of a Member who commenced Company Service prior to 9 June 2020, column (2) of Table A; or

• (b) in the case of a Member who commenced Company Service on or after 9 June 2020, column (2) of Revised Table A

multiplied by 260 less the total of payments in respect of the pension then already made, the relevant proportion being that proportion which was used in calculating the Reduced Pension, PROVIDED THAT a lump sum shall not be payable pursuant to this Rule 28 if the pensioner was a member of the Coras Iompair Eireann Spouses’ and Children’s Superannuation Scheme for Regular Wages Staff and at the date of his or her death was survived by a spouse (which shall comprehend a Civil Partner) or child or children within the meaning of the aforementioned scheme.

On the death of a Member at least ten years before his or her Normal Age of Retirement and who is entitled to a Reduced Pension pursuant to Rule 25.3 there shall be paid to his or her personal representative out of the Fund upon his or her application such amount as the Trustees on the advice of the Actuary determine to be equal at the date of death to the value of such Reduced Pension.

30.1 Where any sum not exceeding €25,000, or such greater amount as may be authorised by the Trustees from time to time, acting reasonably, is to be paid under the Scheme to the personal representatives of a deceased Member, probate or other proof of the title of the personal representatives of the deceased may, if the Board so thinks fit, be dispensed with and subject to the Revenue Commissioners’ requirements in this regard, the sum may be paid or distributed to or among the persons appearing to the Board to be beneficially entitled to the personal estate of the deceased Member or to or among any one or more of these persons upon such conditions as the Board shall think fit and the Board and the Trustees shall be discharged from all liability in respect of such payment or distribution.

Where a former Member is entitled to receive a Reduced Pension pursuant to Rule 25.1 the following provisions shall apply:

• (a) The Trustees may at any time while such former Member is under the Normal Age of Retirement require him or her to give such evidence as they shall deem satisfactory of his or her continued ill-health, his or her ability or inability to earn an income and the amount of his or her income.

• (b) If the Trustees are not satisfied with the evidence given by the former Member in response to their request made under the preceding paragraph, or if no evidence has been furnished or if they are of the opinion that the former Member has recovered sufficiently to earn an income, the Trustees in their discretion may suspend, vary or revoke the Reduced Pension and may subsequently restore the Reduced Pension in whole or in part as they in their discretion deem fit taking all the circumstances into consideration.

• (c) If in the opinion of the Trustees the former Member has recovered sufficiently to return to employment with the Board and he or she does so, the Trustees may deal with his or her case in such manner as they consider to be just and reasonable in the circumstances.

• (d) If any said Reduced Pension has been suspended, varied or revoked as aforesaid the former Member shall on attaining Normal Age of Retirement be entitled to receive the said Reduced Pension thereafter for the remainder of his or her life.

• (e) For the purposes of this Rule, a Member who was at any time a Job Sharing Employee shall be treated for the purposes of his or her service as if he or she had at all times been a Full Time Employee.

32.1 At the request of a Member made at the time of his or her retirement on pension whether on reaching the Normal Age of Retirement or earlier the Board may, subject to any relevant limitation for the time being imposed by the Revenue Commissioners, commute up to one quarter of any weekly pension to which he or she becomes entitled into a capital sum, the basis for commutation being determined by the Actuary from time to time in consultation with the Trustees and the Board PROVIDED THAT if a Member retired on pension on or after 9 June 2020 and before the Operative Date, the Board may commute a permitted part of his or her pension provided that his or her request in that behalf is made before the expiration of three months from the Operative Date.

32.2 If a Member retires on pension before the Normal Age of Retirement and part of his or her pension is commuted, then if that Member is subsequently re-employed by the Board, upon subsequent retirement on pension the earlier commutation shall apply in reduction of the pension becoming payable and if further commutation is requested the earlier commutation shall be taken into account in limitation of the portion of the pension that may be commuted and in reduction of the capital sum to be paid.

33.1 If any Member of the Scheme having not less than ten years’ Company Service, leaves the service of the Board prior to 9 June 2020 and within five years of reaching the Normal Age of Retirement without entitlement to a Reduced Pension pursuant to Rule 25, he or she may be granted an Early Retirement Pension payable weekly and calculated as such part of the appropriate alternative rate in column (3) of Table A until age 70 and a lower pension based on the rates in column (4) of Table A thereafter as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the age of 65.

33.2 If any Member of the Scheme having not less than forty years’ Company Service leaves the service of the Board on or after 9 June 2020 without entitlement to a Reduced Pension pursuant to Rule 25, he or she may be granted an Early Retirement Pension payable weekly and calculated as such part of the appropriate rate in column (2) of Revised Table A as is proportionate to the ratio which the number of years’ Company Service bears to the number of years of possible Company Service had such former Member remained in the Board’s employment until the age of his or her Normal Age of Retirement.

33.3 Early Retirement Pensions payable pursuant to this Rule shall be deemed not to be Reduced Pensions.

33.4 Upon the death, within five years of the date of his or her leaving service, of a pensioner receiving or entitled to receive an Early Retirement Pension, there shall be paid to his or her personal representative in discharge of all further obligations under the Fund a lump sum equal to:

• (a) in the case of a Member who retires prior to 9 June 2020, the relative proportion of the appropriate Weekly Pension for life (column (2) of Table A); or

• (b) in the case of a Member who retires on or after 9 June 2020, the relative proportion of the appropriate Weekly Pension for life (column (2) of Revised Table A)

multiplied by 260 less the total of payments in respect of the pension then already made, the relevant proportion being that proportion which was used in calculating the Early Retirement Pension PROVIDED THAT a lump sum shall not be payable pursuant to this sub-Rule 33.4 if the pensioner was a member of the Coras Iompair Eireann Spouses’ and Children’s Superannuation Scheme for Regular Wages Staff and at the date of his or her death was survived by a spouse (which shall comprehend a Civil Partner) or child or children within the meaning of the aforementioned scheme.

34.1 Prior to 1 July in each year following the confirmation of this Scheme, the Board shall, in consultation with the Actuary, review the rate of pensions in payment under the Scheme (other than Vested Benefits which have come into payment) with a view to increasing the rate of payment, having regard to any maximum increase in pensions authorised by the Minister with the consent of the Minister for Public Expenditure and Reform for the purpose of ensuring that public service norms as to pension increases are not exceeded, increases in rates of pay for the employees of the Board, the financial condition of the Fund and any other matter which the Board considers to be relevant. For the purpose of its review the Board shall obtain from the Actuary advice on the cost of increasing the rate of payment and the effect such increase would have on the financial position of the Fund. Following its review, the Board shall determine the amount or amounts or rate or rates of increase to be made to each pension in payment under the Scheme (other than Vested Benefits which have come into payment) with effect from the next 1 July, and shall notify the Trustees accordingly.

34.2 Unless the Trustees determine, after consulting the Actuary, that no such increases should be paid, or that all such increases should be reduced rateably, they shall, subject always to any maximum increase authorised by the Minister with the consent of the Minister for Public Expenditure and Reform as aforesaid, pay the increases with effect from the next 1 July.

34.3 Increases granted pursuant to this Rule shall be disregarded for the purposes of calculating the amount of any lump sum benefit payable upon the death of a pensioner.

PART 7 COMPLAINTS, CLAIMS AND DISPUTES

35.1 Subject to sub-Rule 35.2, no person whether as a Member or otherwise shall have any claim, right or interest upon, to or in respect of the Fund or any contributions thereto, or any claim upon or against the Trustees (including complaints against the Committee and/or the Committee members and or the Trustees) except under or in accordance with the provisions of the Scheme.

35.2 The Trustees shall, in handling any complaint made by, or dispute concerning, an Actual or Potential Beneficiary of the Scheme, comply with the requirements and procedures for the handling of such complaints and disputes in accordance with the Financial Services and Pensions Ombudsman Act 2017 (No. 22 of 2017).

PART 8 SERVICE

36.1 Any Member of this Scheme who ceases to be employed by the Board on or after 2 June 2002 (otherwise than in accordance with Rule 37 or due to his or her death in service) after having completed two years’ Qualifying Service after 1 January 1991 without being entitled to a pension under any other Rule shall be entitled to the benefits described in sub-Rule 36.2 below PROVIDED THAT if he or she has previously received a Reduced Pension, the benefits otherwise payable pursuant to this sub-Rule shall be reduced by such amount as the Actuary shall recommend.

36.2 A Vested Benefit equal to the fraction which has accrued at the date he or she ceases to be employed of the pension (calculated in accordance with the provisions of Rule 33.2 in cases where the Vested Age of Retirement is less than the Normal Age of Retirement) and the retirement gratuity to which he or she would be entitled upon retirement at the Vested Age of Retirement, the accrued fraction to be calculated in accordance with the second schedule to the Pensions Act upon a basis approved by the Actuary and subject to the requirements of section 35A of the Pensions Act.

36.3 A Vested Benefit shall come into payment at the former Member’s Vested Age of Retirement subject to application by the former Member. Upon the death, within five years of his or her Vested Age of Retirement, of a former Member receiving or entitled to receive a Vested Benefit, there shall be paid to his or her personal representative in discharge of all further obligations under the Fund a lump sum equal to the weekly amount of the pension comprised within his or her Vested Benefit multiplied by 260, less the Total Payments in respect of the pension then already made.

36.4 Wherever there is a period of at least one year between:

• (a) the date a Member leaves the service of the Board, and

• (b) the earlier of that Member’s Vested Age of Retirement and the date of his or her death,

then a Vested Benefit to which the former Member becomes entitled pursuant to sub-Rule 36.1 shall be adjusted, where a Revaluation Percentage has been prescribed pursuant to section 33(4) of the Pensions Act at the end of each revaluation year by the amount of the Revaluation Percentage. No revaluation shall be made pursuant to this sub-Rule 36.4 after the earlier of:

• (i) the date when payment of the pension begins, or

• (ii) the date of the former Member’s death.

36.5 Reference in this Rule to the amount of a benefit at any date after the former Member’s date of leaving service is a reference to the benefit as adjusted, where a Revaluation Percentage has been prescribed pursuant to section 33(4) of the Pensions Act to that date unless expressly stated otherwise in respect of the revaluation year commencing on 1 January 2018 and each revaluation year afterwards.

36.6 On the death of a former Member entitled to a Vested Benefit before payment begins and before any transfer payment has been made pursuant to sub-Rule 38.1 there shall be paid to his or her personal representative out of the Fund upon his or her application such amount as the Trustees on the advice of the Actuary determine to be equal at the date of death to the value of the benefit granted to the former Member.

36.7 A Member to whom this Rule 36 applies, and who, on the effective date of his or her resignation, is aged 60 or over, may apply in writing before such date to have his or her Vested Benefits paid with effect from the effective date of his or her resignation and if the Board and Trustees agree, those benefits shall be payable as and from the effective date of his or her resignation, but the amount of each benefit shall be reduced by reference to the Member’s age at date of resignation in accordance with actuarial tables approved by the Trustees.

37.1 If any Member of this Scheme is compelled to leave the service of the Board for service with the National Forces during an emergency, or if not so compelled, if any Member wishes to leave the service of the Board for the purpose aforesaid and obtains from the Board leave of absence for such purpose, such former Member shall, provided that immediately upon the cessation of his or her national service he or she resumes employment with the Board as a Member of the Regular Wages Staff, be readmitted to membership of this Scheme, and the Board will pay into the Fund an amount equivalent to the total contributions which would have been made by such former Member had he or she not left the service of the Board for the said purpose, and such former Member’s service with the Board shall, but for the purpose of this Scheme only, be deemed to have been continuous notwithstanding such absence.

PART 9 TRANSFERS

38.1 Transfers Out

At any time before payment of a Vested Benefit begins, the Member entitled thereto may, subject to the requirements of the Pensions Act, request a transfer payment to be made out of the Fund to:

• (a) the fund of any other retirement benefits scheme which is treated as an exempt approved scheme for the purposes of Chapter I of Part 30 of the Taxes Consolidation Act; or

• (b) to an insurance policy or contract of insurance approved for the purposes of Chapter II of Part 30 of the Taxes Consolidation Act (a “Retirement Arrangement”); or

• (c) a personal retirement savings account within the meaning of section 91 of the Pensions Act, subject to the section 772 (3D) of the Taxes Consolidation Act and the requirements of the Pensions Act; or

• (d) to the trustees, custodians, managers or administrators of any arrangement for the provision of retirement benefits established outside the Republic of Ireland, in accordance with section 34(3)(e) of the Pensions Act; or

• (e) any other arrangement for the provision of retirement benefits prescribed under the Pensions Act and approved by the Revenue Commissioners for the purposes of the Taxes Consolidation Act

or the Trustees may, subject to the requirements of the Pensions Act, determine to effect such a transfer. As soon as practicable after the request or determination, an amount which the Trustees on the advice of the Actuary determine to be equivalent to the benefit shall be transferred to that Retirement Arrangement, and the Trustees or Life Office operating that Retirement Arrangement shall be given all information needed to administer the amount transferred, and the benefits thereby secured, in accordance with the requirements of the Pensions Act and of the Revenue Commissioners under the Taxes Consolidation Act. Following the transfer the Member concerned shall have no further entitlement under this Scheme.

38.2 Transfers In

Where any Member is entitled to benefit:

• (a) under another retirement benefits scheme approved by the Revenue Commissioners for the provision of relevant benefits; or

• (b) under a contract with a Life Office approved by the Revenue Commissioners for the purpose of issuing transfer payments to retirement benefits schemes; or

• (c) under a personal retirement savings account as defined in Section 787 of the Taxes Consolidation Act,

subject to the requirement of section 34(4) of the Pensions Act and compliance with any requirements of the Revenue Commissioners, the Trustees shall arrange for any transfer of assets offered in respect of that Member from the other scheme or the Life Office or the provider of the personal retirement savings account (as the case may be) to be accepted and to be paid into the Defined Contribution Scheme of which scheme the Member shall become a member upon making a formal application to transfer into that scheme in accordance with the terms of that scheme and they shall procure that the trustees of that scheme accept such payment and provide benefits in such form as those trustees may determine which are of an actuarial value that is equivalent to the amount of the transfer payment.

PART 10 RETIREMENT AGE

39.1 For the purposes of this Scheme with effect from the Operative Date the Normal Age of Retirement of a Member shall be the age on which a Member retires from the Board’s service in accordance with the following table:

Table of Normal Age of Retirement

Date of joining Scheme	Vested Age of Retirement	Normal Age of Retirement	Latest Normal Age of Retirement
On or after the Operative Date	State Pension Age	State Pension Age	State Pension Age
On or after 1 January 2013 and before the Operative Date	State Pension Age	State Pension Age	State Pension Age
On or after 1 April 2004 and before 1 January 2013	age 66	age 66	State Pension Age
On or after 6 April 1995 and before 1 April 2004	age 66 unless the Member has, prior to that age, completed 40 years’ Company Service in which case it is the age at which 40 years of Company Service are completed	age 66	State Pension Age
Before 6 April 1995	age 65 unless the Member has, prior to that age, completed 40 years’ Company Service in which case it is the age at which 40 years of Company Service are completed	age 65	State Pension Age

PART 11 PROMOTION

40.1 Where, prior to the Operative Date, a Member was promoted in the service of the Board to a grade outside the Regular Wages Staff and he or she was, as so promoted, qualified and entitled to join the Córas Iompair Éireann Superannuation Scheme 1951 (hereinafter in this Rule referred to as the “1951 Scheme”), and became a member of the 1951 Scheme, the total amount of his or her contributions to the Fund shall, unless he or she requests that a transfer payment be made, remain in the Fund subject to the Rules of this Scheme and he or she shall become a deferred Member of this Scheme.

40.2 For the purposes of calculating his or her weekly pension under Table A:

• (a) his or her Basic Weekly Wage shall be calculated on the date immediately before the date of his or her becoming a member of the 1951 Scheme at the rate applicable to him or her in columns (1) and (2) of Table A on the former date and his or her deferred pension shall be revalued in accordance with section 33 of the Pensions Act 1990 as if the deferred Member was entitled to a preserved benefit under the Pensions Act 1990 ; and

• (b) during the period until the deferred Member retires from the service of the Board in accordance with the rules of the 1951 Scheme, such part of the appropriate ordinary pension rate in column (3) of Table A as is proportionate to the ratio which the number of years of service prior to the date of his or her becoming a member of the 1951 Scheme bears to the number of years of possible service had the deferred Member remained in the Regular Wages Staff until his or her Normal Age of Retirement.

40.3 For the purposes of calculating his or her retirement gratuity, service in the employment of the Board on and after the date of becoming a member of the 1951 Scheme shall not count as Scheme Membership.

40.4 If the deferred Member dies in the service of the Board before retiring on pension, the provisions of Rule 26 shall apply.

40.5 If, after such a deferred Member became a member of the 1951 Scheme, he or she is transferred back to the Regular Wages Staff as a regular Member thereof he or she shall, provided he or she pays, or there is paid on his or her behalf, an amount into the Fund equal to the total contributions he or she would have made to the Fund during the period he or she ceased to be a Member on promotion, be readmitted as a Member of this Scheme notwithstanding that he or she may then exceed the age limit herein prescribed, where applicable.

40.6 Deferred pensions payable pursuant to this Rule shall be deemed not to be Reduced Pensions.

40.7 A Member who became a member of the 1951 Scheme on or after 1 January 2015 and became a deferred Member of the Scheme shall not, on his or her retirement (including ill-health retirement or early retirement), when his or her benefits from the Scheme and the 1951 Scheme are aggregated, be in a less advantageous position in respect of benefits payable than he or she would have been had he or she remained a Member of the Scheme at the grade and scale point at which he or she was when he or she exited the Scheme. Before the date of his or her retirement, his or her employer shall pay, or procure the payment of, to the Fund such monies as the Actuary determines are necessary to ensure the benefits payable, in aggregate, from the Scheme and the 1951 Scheme to or in respect of the deferred Member, are uplifted in this Scheme to the effect that, in aggregate, his or her benefits are no less favourable than they would have been had he or she remained a Member of the Scheme.

40.8 With effect on and from the Operative Date, if a Member of this Scheme is promoted in the service of the Board to a grade outside the Regular Wages Staff he or she shall remain a Member of this Scheme and shall not be entitled to join the 1951 Scheme, notwithstanding anything in the provisions of the 1951 Scheme that states otherwise.

40.9 In this Rule “deferred Member” means a former Member of the Scheme who prior to the Operative Date became entitled to a deferred pension on promotion pursuant to this Rule.

PART 12 REVENUE COMMISSIONERS’ FUND THRESHOLDS

41.1 Where a Member’s benefits exceed the Standard Fund Threshold (or, where applicable, the Personal Fund Threshold) a chargeable excess arises. In such an event, the Member may be permitted by the Trustees, and shall be permitted if so required by section 787Q(6) of Chapter 2C of Part 30 of the Taxes Consolidation Act 1997 , to commute so much of his or her benefits as may be necessary to discharge any tax liability arising from that chargeable excess, PROVIDED THAT:

• (a) instead of commuting his or her benefits, a Member may be permitted by the Trustees, and shall be permitted if so required by section 787Q(6) of Chapter 2C of Part 30 of the Taxes Consolidation Act 1997 , to elect to surrender at the date the pension becomes payable to him or her, a portion of pension for a period of payment of the pension and on a basis to be determined by the Trustees, acting on the advice of the Actuary and notified to the Member and subject to the requirements of section 787Q (where applicable);

• (b) unless provision has been made to meet the tax liability to the Trustees’ satisfaction, in the event that the Member declines to commute his or her benefits or to make an election in accordance with Rule 41.1(a), the Trustees shall apply such of the available options as they in their absolute discretion shall determine and such option shall be deemed to have been selected by the Member;

• (c) the Trustees and the Employers shall have no duty to advise a Member in relation to a commutation or an election under this Rule 41 nor (whether or not they have advised a Member) any liability to the Member in consequence of the Member, or the Trustees, commuting or not commuting the Member’s benefits, or making or not making an election under Rule 41.1(a).

GIVEN under my Official Seal,

6 July, 2022.

EAMON RYAN,

Minister for Transport.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation)

This Order confirms the amendment of existing schemes relating to the CIÉ regular wages staff scheme. It provides for the continuance of subsisting rights or liabilities accrued by any person who died, or retired from or left service prior to the Operative Date, various amendments relating to those in active service including to normal retirement age, lump sum gratuity payable, promotions and provisions for new entrants to the scheme as well as certain governance changes.