S.I. No. 345/2022 - Córas Iompair Éireann Defined Contribution Scheme for Regular Wages Staff Scheme (Confirmation) Order 2022

• (c) if the Revenue Commissioners specify that the retention of that Member would affect the approval of the Scheme as provided under Rule 3.1.

18.3 If a Member ceases to be a Member in accordance with Rule 18.2(a), Rules 25, 26, 27, or 29 shall apply.

18.4 If a Member ceases to be a Member in accordance with Rule 18.2(b) or Rule 18.2(c) although remaining in the service of the Associated Employers:

• (a) no further contributions shall be paid to the Fund by him or her or in respect of him or her, unless and until he or she is again admitted to membership of the Scheme and his or her Account or part of his or her Account (whichever is appropriate under Rule 29 to the amount of his or her Qualifying Service) shall continue to be held subject to the trusts of the Scheme until he or she leaves the service of the Associated Employers; and

• (b) if the Member dies before his or her Normal Age of Retirement while in the service of the Associated Employers, the benefit payable under Rule 28, shall be the payment of a lump sum in accordance with Rule 28.3.

18.5 Each Member shall:

• (a) on being admitted to membership of the Scheme, pay contributions to the Fund in accordance with Rule 21; and

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

• (i) any information or evidence necessary to establish his or her entitlement to be admitted to the Scheme,

• (ii) any information or evidence required for the administration of the Scheme in respect of him or her, and

• (iii) any necessary authority to the Board for the deduction of contributions from pay or any other authority to the Board or the Trustees which may be necessary for the administration of the Scheme in respect of him or her.

If any information, authority or evidence required of a person by the Trustees for the purposes of the Scheme is not provided, or if any information or evidence proves to be inaccurate or shows that evidence or information previously provided was 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.

20.1 The Associated Employers shall transmit to the Trustees all contributions (if any) collected by each of them respectively from the Members under Rule 21 and an Associated Employer who deducts contributions from the wages or salaries of the Members shall transmit the contributions to the Trustees within the period specified in section 58A of the Pensions Act.

20.2 The Associated Employers shall pay to the Trustees the contributions payable by each of them respectively under Rule 22.1(a) in accordance with the requirements of the Pensions Act.

20.3 The Associated Employers shall pay all costs and expenses of managing and administering the Scheme, except:

• (a) investment management charges, brokerage, commissions, stamp duty on the purchase or sale of investments and ancillary costs under Rule 5.4,

• (b) any other liability of the Trustees or the Scheme for tax or duty or any levy.

20.4 If it is expedient for the Trustees to discharge any cost or expense properly payable by the Associated Employers, and PROVIDED THAT they have notified the Associated Employers in advance of discharging any such cost or expense and none of the Associated Employers has objected, the Associated Employers shall reimburse the Trustees for that cost or expense on demand.

21.1 Subject to Rule 21.8:

• (a) every Member shall contribute to the Fund at the rate of four per cent of his or her Hybrid Pensionable Salary (“Member Contribution”); and

• (b) every Member may contribute to the Fund at an additional percentage of his or her Hybrid Pensionable Salary as set out in the following table, such amount to be determined by the completed years of Company Service of the Member, (“Regular Voluntary Contributions”) whereupon an employer contribution shall be payable in respect of the Member in accordance with this Rule.

Years of Company Service completed	Regular Voluntary Contributions as percentage of Member’s Hybrid Pensionable Salary	Total of Member’s Member Contribution & Regular Voluntary Contributions
less than 5 years	0%	4%
5 - 9 years	+1%	5%
10 - 19 years	+2%	6%
20+ years	+3%	7%

and the Member’s contributions shall commence in the month coincident with or if not coincident with next following the month in which a person becomes a Member in accordance with Rule 18.

21.2 Changes (if any) in the rate of contribution payable by the Member under sub-paragraph (b) of Rule 21.1 shall take effect on and from the date coincident with or next following the date on which the Member has completed five, ten or twenty years’ Company Service, as the case may be (or on and from such other date or dates as the Trustees may determine from time to time).

21.3 A Member’s Contributions shall be deducted from his or her Hybrid Pensionable Salary at the end of each pay period.

21.4 Every Member shall cease to pay Member’s Contributions on the date of ceasing to be a Member or retiring from service.

21.5 On any Review Date (or such other date or dates as may be agreed by the Board and the Trustees) and subject to Rules 21.7, 21.8 and 21.13, a Member may with the consent of the Trustees elect to pay additional voluntary contributions (“Additional Voluntary Contributions”) at least at such minimum rate (if any) as shall be determined by the Board, and may elect to increase his or her Additional Voluntary Contributions on such date or dates as the Trustees may determine from time to time.

21.6 No Regular Voluntary Contributions or Additional Voluntary Contributions shall be made after a Member’s Member Contribution under Rule 21.1 ceases to be payable.

21.7 The Trustees may permit a reduction of Regular Voluntary Contributions and/or Additional Voluntary Contributions (but not so that the rate will amount to less than the minimum rate (if any) referred to in Rule 21.5) or a cessation of such contributions on such date or dates as the Trustees may determine from time to time.

21.8 No Member shall in any Scheme Year pay the Member Contribution under Rule 21.1 and Regular Voluntary Contributions or Additional Voluntary Contributions which (disregarding any Member’s Contributions comprised in a Transfer Payment), together with an contributions payable to the Regular Wages Scheme, exceed the maximum percentage rate of his or her remuneration from the Associated Employers in that Scheme Year permitted by the Revenue Commissioners.

21.9 Subject to Rules 21.4, 21.7 and 21.12, a Member who remains in membership under Rule 38 shall continue to pay the Member Contribution under Rule 21.1 and Regular Voluntary Contributions and/or Additional Voluntary Contributions (if any), but the Associated Employer may permit the payment of Member’s Contributions by him or her to be reduced or suspended for any period which they prescribe. The Associated Employer may, at the end of the period of reduction or suspension, arrange for the payment of the arrears of the Member’s Member Contribution and Regular Voluntary Contributions or Additional Voluntary Contributions (if any) over such periods and by such amounts and with such interest as shall be agreed between the Associated Employer and the Member and as the Trustees shall approve.

21.10 Subject to Rule 3.1, a Member may with the consent of the Trustees make one or more Special Voluntary Contributions to the Fund.

21.11 An Associated Employer who makes a deduction from a Member’s Hybrid Pensionable Salary pursuant to Rule 21.1 shall furnish the Member concerned and the Trustees with the information specified by section 58A(3) of the Pensions Act unless particulars of the deduction are furnished to the Member in accordance with Section 9 of the Payment of Wages Act 1991 .

21.12 If at any time it appears that the amount of the Member Contribution, the Regular Voluntary Contributions or Additional Voluntary Contributions payable by a Member is such that the benefits which might be secured by the application of his or her Account when aggregated with benefits payable under any other Approved Retirement Benefits Scheme of the Associated Employers, as projected by the Trustees acting on the advice of the Actuary, are likely to exceed the maximum benefits permitted by the Revenue Commissioners or would otherwise prejudice approval of the Scheme, his or her Member Contribution, his or her Regular Voluntary Contributions or Additional Voluntary Contributions may, if the Member so elects, be limited to the amounts (if any) which the Trustees on the advice of the Actuary prescribe and shall be so limited if approval of the Scheme by the Revenue Commissioners would be prejudiced.

22.1 The Associated Employers shall pay to the Trustees:

• (a) the costs and expenses arising pursuant to Rule 20 in such proportions as the Board shall determine;

• (b) in respect of each Member, a contribution equal to six per cent of the value of his or her Hybrid Pensionable Salary;

• (c) in respect of each Member, an additional contribution in accordance with, the following table, such amount to be determined by the rate of Regular Voluntary Contributions paid by the Member under Rule 21.1(b):

Years of Company Service completed	Regular Voluntary Contributions as percentage of Member’s Hybrid Pensionable Salary payable by the Member	Additional percentage of value of Member’s Hybrid Pensionable Salary payable by Associated Employer	Total of percentage of value of Member’s Hybrid Pensionable Salary payable by Associated Employer
Less than 5 years	+0%	+0%	6%
5 - 9 years	+1%	+1%	7%
10 - 19 years	+2%	+3%	9%
20+ years	+3%	+6%	12%

PROVIDED THAT the Associated Employers’ contributions in respect of each Member shall at Normal Age of Retirement not be less than is required to comply with Rule 3.1.

22.2 Employer contributions under Rule 22.1 shall commence, cease and be payable at the same time as contributions payable by Members in accordance with the provisions of Rule 22.1.

22.3 In circumstances where, in accordance with Rule 21.13, the:

• (a) Member has elected to limit his or her Member’s Contributions, or

• (b) Member’s Contributions are limited,

the contributions payable by the Associated Employers shall likewise be limited in proportion to the Member’s reduction but the Associated Employer shall continue to pay to the Trustees the amounts required under Rule 22.1(a).

22.4 Subject always to Rule 3.1 and Ministerial Approval, the Board may pay to the Trustees a sum expressed to be for augmenting the benefits payable to or in respect of any former Member whose Account has been applied in providing benefits, or may decide that a former Member who is not entitled to the full amount of his or her Account should be entitled to the full amount or a greater amount of it, and the Trustees shall apply that sum or that further amount in accordance with Rule 24 in providing additional benefits to or in respect of that former Member as the Board shall direct.

23.1 Any Member of this Scheme who ceases to be employed by the Board (otherwise than in accordance with Rule 38 or due to his or her death in service) without becoming entitled to a vested benefit shall receive a refund of his or her contributions without interest subject to the provisions of Rule 23.5 and subject to the deduction of tax at the appropriate rate pursuant to the Taxes Consolidation Act and pursuant to Rule 35.

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

23.3 If any former Member of the Scheme who has received a refund of his or her contributions pursuant to Rule 29.1 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 readmitted to membership of the Regular Wages Scheme, be readmitted to membership of this Scheme 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.

23.4 Upon readmission of any former Member under the provisions of this 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 it is, 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.

23.5 The amount of any refund of contribution directed by this Rule shall be paid out of the Member’s Account 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, subject to the Pensions Act, 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 FOR MEMBERS

24.1 Whenever under these Rules all or part of the Account of any Member or former Member is to be applied in providing benefits on an Application Date, his or her Account or the appropriate part of his or her Account (as the case may be) shall be applied on that Application Date (or within such period thereafter as the Trustees may reasonably require in order to arrange the application) in providing benefits under paragraph (a) below or, if the Member so elects, in providing benefits under paragraph (b) below.

• (a) Any combination of the following benefits as the Member shall determine (or, in default of any determination by the Member prior to the Application Date, or where the application arises following the Member’s death, as the Trustees in their absolute discretion shall determine) but subject always to Rule 3.1:

• (i) a lump sum immediately payable to the Member;

• (ii) an annuity on the life of the Member, purchased in the name of the Member, which may be of fixed or increasing annual amount and which may be expressed to be payable for a specified minimum period whether or not the Member survives until the end of that period;

• (iii) an annuity on the life of a Dependant of the Member (other than a Child), purchased in the name of the Member and/or the Dependant, which may be of fixed or increasing annual amount, beginning on or after the Member’s death;

• (iv) an annuity or annuities on the life or lives of any one or more of the Member’s Children, purchased in the name of the Member, which may be of fixed or increasing annual amount, beginning on or after the Member’s death and continuing (subject to the survival of the life or lives assured) until the Child or Children cease to be such; and

• (v) any other benefit which will not prejudice the exempt approval of the Scheme under the Taxes Consolidation Act.

• (b) Any combination of the following as the Member shall determine, subject always to Rule 3.1 and to section 772(3A) and (3B) of the Taxes Consolidation Act:

• (i) a lump sum immediately payable to the Member; and

• (ii) a payment to the Member, or to one or more Approved Retirement Funds as the Member directs.

24.2 The Trustees may provide any benefit under Rule 24.1(a) by:

• (a) payment out of the Member’s Account, but only to the extent that the benefit is immediately payable in lump sum form; and/or

• (b) the transfer to the Member or the beneficiary of policies or contracts of assurance forming part of the Fund which match obligations to or in respect of the Member; and/or

• (c) the purchase in the name of the Member or the beneficiary of immediate or deferred non-assignable annuity contracts or other suitable policies.

24.3 Every determination made by a Member under Rule 24.1 shall be made at the sole discretion of the Member. The Trustees and the Associated Employers shall have no duty to advise any Member in relation to a determination under Rule 24.1, nor (whether or not they have advised the Member) any liability to any Member or to any person claiming through or in respect of any Member in consequence of the Member making or not making a determination under Rule 24.1.

24.4 In the case of a Member who is included as a member of the Regular Wages Scheme and/or in any other Approved Retirement Benefits Scheme of the Board, and unless otherwise permitted by the Revenue Commissioners, the provision, or commencement of the payment, of benefits under this Rule shall be subject to the benefits under the Regular Wages Scheme, and/or any other such scheme, being provided or commencing payment at the same time as the provision or payment of benefits hereunder.

25.1 Subject to Rule 25.2, if a Member leaves the service of the Associated Employers at his or her Normal Age of Retirement, the Trustees shall apply his or her Account in providing benefits at his or her Normal Age of Retirement.

25.2 In the case of a Member who is included as a member of the Regular Wages Scheme and/or in any other Approved Retirement Benefits Scheme of the Associated Employers, and unless otherwise permitted by the Revenue Commissioners, the provision, or commencement of the payment, of benefits under this Rule shall be subject to the benefits under the Regular Wages Scheme, and/or any other such scheme, being provided or commencing payment at the same time as the provision or payment of benefits hereunder.

26.1 Subject to Rule 26.3, if the Member remains in the service of the Board with the Board’s consent after Normal Age of Retirement and leaves service at a later date, the Trustees shall apply his or her Account in providing benefits at his or her later date of retirement instead of at his or her Normal Age of Retirement.

26.2 Subject to Rule 26.3, a Member who continues to serve after Normal Age of Retirement may at any time elect, instead of waiting until his or her later date of retirement, to have his or her Account applied in providing benefits at Normal Age of Retirement or at any date between Normal Age of Retirement and his or her later date of retirement.

26.3 In the case of a Member who is included as a member of the Regular Wages Scheme and/or in any other Approved Retirement Benefits Scheme of the Associated Employers, and unless otherwise permitted by the Revenue Commissioners, the provision, or commencement of the payment, of benefits under this Rule shall be subject to the benefits under the Regular Wages Scheme, and/or any other such scheme, being secured or commencing payment at the same time as the securing or payment of benefits hereunder.

27.1 Early Retirement and Ill-health Early Retirement

• (a) Members in service

If a Member having not less than ten years’ Company Service leaves the service of the Associated Employers before Normal Age of Retirement:

• (i) after attaining age fifty, or

• (ii) if his or her services are dispensed with because of redundancy arising from any scheme for the reorganisation or more economical operation of any department of the Board’s undertaking and, where applicable, he or she is eligible to have paid from the Regular Wages Scheme, a reduced pension and gratuity, or

• (iii) if his or her employment 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) and, where applicable, is eligible to have paid from the Regular Wages Scheme a reduced pension and gratuity (and further, where applicable, ill-health benefits from the Córas Iompair Éireann Superannuation Scheme 1951)

he or she may with effect from the same date or dates make an election under Rule 27.2.

• (b) Deferred Members

A former Member of this Scheme, who:

• (i) is a member of the Regular Wages Scheme (and, where applicable, 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 Regular Wages Scheme (and, where applicable, the Córas Iompair Éireann Superannuation Scheme 1951); and

• (iv) would, on attaining preserved pension age, be eligible to receive preserved benefits from either or each of the schemes referred to in sub-paragraph (b)(i) of this sub-Rule,

will, notwithstanding that he or she has not attained Normal Age of Retirement be eligible to have paid from the Scheme a preserved benefit, with effect from the same date or dates as his or her ill-health benefits are paid from the Regular Wages Scheme (and, where applicable, the Córas Iompair Éireann Superannuation Scheme 1951).

27.2 Subject to Rule 26.3, in the circumstances of Rule 27.1, instead of the benefits payable under Rule 29, he or she may elect to have his or her Account or part of his or her Account (whichever is appropriate under Rule 29 to his or her Qualifying Service) applied.

27.3 The application under Rule 27.2 shall be to benefits at his or her earlier date of leaving service instead of at his or her Normal Age of Retirement.

27.4 In the case of a Member who is included as a member of the Regular Wages Scheme and/or in any other Approved Retirement Benefits Scheme of the Associated Employers, and unless otherwise permitted by the Revenue Commissioners, the securing, or commencement of the payment, of benefits under this Rule shall be subject to the benefits under the Regular Wages Scheme, and/or any other such scheme, being secured or commencing payment at the same time as the securing or payment of benefits hereunder.

28.1 On the death before Normal Age of Retirement of a Member while in the service of the Associated Employers, a lump sum equal to the value of his or her Account shall be payable.

28.2 On the death of a Member on or after Normal Age of Retirement while in the service of the Associated Employers prior to the application of his or her Account under Rule 26, a lump sum equal to the value of his or her Account shall be payable.

28.3 On the death before his or her Application Date of a former Member entitled to a benefit under Rule 29, a lump sum shall be payable equal to:

• (a) in the case of an entitlement under Rule 29.1, the amount referred to in Rule 29.1, or

• (b) in the case of an entitlement under Rule 29.2, his or her Account.

28.4 The total of any lump sum arising under Rule 28 shall be paid to the Participant’s legal personal representatives or, except to the extent that it relates to his or her Preserved Benefit (if any), paid or applied in whole or in part:

• (a) to or for the benefit of, or

• (b) to any person or persons or body corporate, including the Trustees, appointed by them for the purpose to be held by such person or persons or body corporate upon Subsidiary Trusts for the benefit of,

any one or more of the Participant’s Beneficiaries living at his or her death and in such shares and in such manner as the Trustees shall in their absolute discretion decide.

28.5 The Trustees may defer payment or application in whole or in part for a period not exceeding two years from the date of the Participant’s death if in their opinion such deferment is necessary for the Trustees to determine who is to benefit. No payment shall be made to the legal personal representatives which would pass to the State as ultimate intestate successor.

28.6 Any lump sum payable under Rule 28 shall be reduced if necessary to comply with Rule 3.1 and an amount equal to the amount of the reduction shall be applied to purchase from a Life Office a non-commutable and non-assignable annuity or annuities for such one or more of, and in the names of, the Participant’s Dependants and in such shares as the Trustees in their absolute discretion shall determine.

Member not entitled to Preserved Benefit

29.1 This Rule 29.1 shall apply to a Member who leaves the service of the Associated Employers without being entitled to benefit under any of the preceding Rules or Rule 29.2 without completing two years’ Qualifying Service. The Member shall be entitled to the immediate payment to him or her, subject to Rule 35 and Rule 3.1, of the part of his or her Account which relates to his or her Member’s Contribution Proceeds and Voluntary Contribution Proceeds and the part of his or her Transfer Payment Proceeds which represents contributions originally paid by him or her as determined at the date of payment by the Trustees on such advice as they consider appropriate.

Member entitled to Preserved Benefit

29.2 A Member who leaves the service of the Associated Employers having completed two years’ Qualifying Service shall be entitled to the benefits described in Rule 29.2(a) or, if he or she elects them by written notice to the Trustees before the Application Date under Rule 29.2(a), the benefits described in Rule 29.2(b):

• (a) the application of his or her Account in providing benefits at his or her Normal Age of Retirement or, at the request of the Member, on another date chosen by the Trustees with the consent (where necessary) of the Revenue Commissioners; or

• (b) a transfer of assets in accordance with Rule 31 of an amount equal to the value of his or her Account,

and where the Member fails to make an election before the Application Date, the Trustees shall apply his or her Account in accordance with Rule 29.2(a).

29.3 A former Member in respect of whom any part of his or her Account has yet to be applied in providing benefits under Rule 29 shall be treated as a Member for the purposes of Rules 28 and 29 until Normal Age of Retirement or his or her prior death.

29.4 Notwithstanding any other of the provisions of this Rule 29, no Member may receive a payment of a part of his or her Account which relates to any of his or her Member’s Contributions or Voluntary Contributions at any time if the payment would conflict with the provisions of Rules 3.1 or 3.2.

29.5 In the case of a Member who is included as a member of the Regular Wages Scheme and/or in any other Approved Retirement Benefits Scheme of the Associated Employers, and unless otherwise permitted by the Revenue Commissioners, the securing, or commencement of the payment, of benefits under this Rule shall be subject to the benefits under the Regular Wages Scheme, and/or any other such scheme, being secured or commencing payment at the same time hereunder.

PART 7 TRANSFERS

30.1 If any Member is entitled to benefit:

• (a) under another Approved Retirement Benefits Scheme; or

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

• (c) under a PRSA,

the Trustees may, and shall if required by the Pensions Act, accept any transfer of assets offered in respect of that Member from the other scheme or Life Office or PRSA Provider (as the case may be).

30.2 A Member in respect of whom a Transfer Payment has been received shall, subject to Rules 3.1 and 3.2, be entitled or contingently entitled to additional benefits:

• (a) to be calculated on a defined contribution basis by the application at his or her Application Date of the Transfer Payment Proceeds which form part of his or her Account at the Application Date; or

• (b) of any lower value necessary to ensure the continued approval of the Scheme by the Revenue Commissioners.

30.3 The Trustees shall give the Member written notice of the basis upon which his or her Transfer Payment Proceeds will be applied.

30.4 On accepting any Transfer Payment, the Trustees shall endeavour to obtain all the information which they require to enable them to administer the Transfer Payment and the benefits provided in respect of it in accordance with Rule 3.

30.5 If a Transfer Payment is offered to the Trustees in respect of any Member subject to conditions as to the way in which it is to be administered or as to the benefits to be provided in respect of it, the Trustees may undertake to comply with those conditions PROVIDED THAT:

• (a) the Transfer Payment may not be administered other than on a defined contribution basis; and

• (b) the Trustees must obtain the prior consent of the Board to their complying with any unusual conditions,

and, subject to the foregoing provisos (a) and (b), notwithstanding any other provision of these Rules, the Trustees and/or the Administrator shall observe that undertaking and no Member shall be entitled to any benefit which, if granted, would breach that undertaking.

30.6 The Trustees may at any time, with the consent of the Board, and subject to Rule 3.1, Rule 3.2 and this Rule 30, make arrangements as the Trustees shall think fit for the block transfer to membership of the Scheme of persons in membership of any other Approved Retirement Benefits Scheme in which the Associated Employers participate subject to such transfer complying with provisos (a) and (b) to Rule 30.5.

31.1 A transfer of assets out of the Fund may be made in respect of any Member or former Member or any group of Members or former Members, including by way of bulk transfer within the meaning of section 59E of the Pensions Act, subject to:

• (a) Rules 31.5 and 31.6,

• (b) the requirements of the Pensions Act; and

• (c) in the case of a Member who is included as a member of the Regular Wages Scheme and/or in any other Approved Retirement Benefits Scheme of the Board, the requirements of the Revenue Commissioners from time to time relating to split transfers.

31.2 A transfer made pursuant to Rule 31.1 may be made to:

• (a) the trustees or other persons having the necessary power of an Approved Scheme in which the Member or former Member concerned participates; or

• (b) a Life Office either:

• (i) for the application under a contract, written in the name of the Member or former Member, which is approved by the Revenue Commissioners, or

• (ii) to purchase an immediate or deferred annuity policy written in the name of the beneficiary to secure some or all of the benefits payable to, or in respect of, the Member or former Member under these Rules; or

• (c) 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 and the Occupational Pensions Schemes and Personal Retirement Savings Accounts (Overseas Transfer Payments) Regulations 2003 (S. I. No. 716 of 2003); or

• (d) any other arrangement for the provision of retirement benefits prescribed by the Pensions Act or approved by the Revenue Commissioners for the purposes of the Taxes Consolidation Act.

31.3 Subject to section 772(3D) of the Taxes Consolidation Act and Rule 31.4, a transfer of assets out of the Fund may be made in respect of any Member or former Member to a PRSA Provider for application under a PRSA operated by that provider in which the Member or former Member concerned is a Contributor.

31.4 Before a transfer is made under Rule 31.3 the Trustees shall, if required under section 113 of the Pensions Act, furnish in accordance with the section to the PRSA Provider or an intermediary acting on its behalf a statement of the benefits which may accrue from the Scheme in respect of the Member.

31.5 The Trustees shall make a transfer under Rule 31.2:

• (a) if so required by law; or

• (b) upon the request of any former Member entitled to benefits which have not yet come into payment, in respect of the benefits payable to or in respect of him or her.

31.6 In any other case, the Trustees may make a transfer under Rule 31.2:

• (a) with the consent of the Board; and

• (b) either:

• (i) with the consent of any Member or former Member concerned, or

• (ii) without his or her consent, if

• (A) the transfer is made to another scheme of the Associated Employers or the Trustees after consulting the Actuary consider that consent is unreasonably withheld, and

• (B) to the extent that the transfer relates to a Preserved Benefit, it may be made without consent in accordance with the Pensions Act.

31.7 Subject to the requirements of section 34 of the Pensions Act, a transfer under Rule 31.2 or Rule 31.3 shall be of an amount equal to the Account of the Member or former Member concerned, or to some part of his or her Account at the date of the transfer or on another date selected by the Trustees.

31.8 The Trustees shall, in respect of each Member or former Member concerned, notify the person or persons to whom a transfer is made under Rule 31.2 or Rule 31.3 of the information needed to administer the transfer and any benefits payable in respect of it in accordance with the Pensions Act and with any requirements imposed by the Revenue Commissioners under the Taxes Consolidation Act.

31.9 Any person in respect of whom a transfer is made under Rule 31.2 or Rule 31.3 shall have no further entitlement to any benefits under the Scheme in respect of the benefits taken into consideration under Rule 31.7 in determining the amount of the transfer, and the Trustees shall not be responsible for those benefits.

PART 8 BENEFIT ADMINISTRATION AND GENERAL

Where any sum payable hereunder, when aggregated with any sums payable under any other Approved Retirement Benefits Scheme of the Associated Employers, does not exceed 25,000 euros, or such greater amount as may be authorised by the Trustees from time to time, acting reasonably, it may be paid to the personal representatives of a deceased Member and probate or other proof of the title of the personal representatives of the deceased may, if the Trustees so think 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 Trustees 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 Trustees shall think fit and the Board and the Trustees shall be discharged from all liability in respect of such payment or distribution.

If by reason of Rule 3.1 or otherwise any part of a Member’s Account remains after the full provision of benefits for that Member under these Rules, it shall:

• (a) be retained in the Fund and may with the consent of the Board be appropriated by the Trustees in whole or in part to discharge any of the obligations of the Associated Employers under Rule 22 and, if appropriated to secure Retirement Benefits in respect of any Member, shall be treated as a contribution made in respect of that Member for the purpose of calculating his or her Account;

• (b) if the Board so determines, be transferred to the Reserve Account; and/or

• (c) if the Board so determines, be refunded to one or more of the Associated Employers in such proportions as the Board shall determine.

No benefit payable or to be paid under the Rules shall be surrendered (except as provided under the Rules) or assigned. If any beneficiary or prospective beneficiary:

• (a) attempts to alienate, charge or anticipate any benefit; or

• (b) does or permits any act or thing by which a benefit would, if it belonged to him or her absolutely, be or become wholly or in part payable to another person, whether by operation of law or otherwise,

that benefit shall cease to be payable or paid, except to the extent that it relates to a Preserved Benefit. In that event the Trustees may, in case of hardship, apply the benefit or any part of it for the support or maintenance of the beneficiary or the beneficiary’s spouse, Civil Partner, Children, remoter issue or Dependants or any of them, but in no case shall any payment be made to an assignee or purported assignee.

35.1 Where any benefit payable under these Rules gives rise to a liability to pay any tax or duty to the Revenue Commissioners, the Trustees shall apply the benefit, or part of it, in payment of the tax or duty (including any interest or penalty due) and deduct the amount so paid from the benefit, unless provision has been made for the liability to the Trustees’ satisfaction.

35.2 Where the Scheme or the Fund gives rise to a liability to pay any tax or duty to the Revenue Commissioners, the Trustees shall apply the Fund or part of the Fund, including by the adjustment of any benefit or benefits, in payment of the tax or duty (including any interest or penalty due) and deduct the amount so paid from the Fund, including by the adjustment of any benefit or benefits, unless provision has been made for the liability to the Trustees’ satisfaction.

Nothing in these Rules shall in any way restrict the right of the Associated Employers to determine the employment of any Member.

37.1 If the Trustees are notified by the Board that any Member has been discharged from the service of the Board on account of his or her fraud, dishonesty or wilful damage to the property of the Board or that a Member has resigned in order to avoid such a discharge, subject to the Pensions Act, the Trustees may deduct from any benefits due to the Member the value as notified to them by the Board of any moneys or goods misappropriated or damage suffered by the Board. Any sum so deducted shall be paid by the Trustees to the Board, whose receipt shall discharge the Trustees for it. This Rule 37 shall not apply in the case of a Member to whom Rule 29.2 applies.

37.2 If at any time a person receives payments under this Scheme and such person is not entitled under this Scheme to such payments, or if a person receives payments 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.

38.1 If any Member 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.

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 scheduled CIÉ contribution scheme to establish a defined contribution pension scheme for members of the Córas Iompair Éireann Pension Scheme for Regular Wages Staff which will operate in conjunction with that scheme in certain circumstances.

Footnotes