S.I. No. 250/1974:

GREAT SOUTHERN RAILWAYS COMPANY AMENDING SUPERANNUATION SCHEME FOR REGULAR WAGES STAFF (CONFIRMATION) ORDER, 1974.

GREAT SOUTHERN RAILWAYS COMPANY AMENDING SUPERANNUATION SCHEME FOR REGULAR WAGES STAFF (CONFIRMATION) ORDER, 1974.

WHEREAS by the Transport Act, 1944 (Section 45) Order, 1945 ( S. R. & O. No. 55 of 1945 ), made under section 45 (3) of the Transport Act, 1944 (No. 21 of 1944), the Great Southern Railways Company Pension Scheme for Regular Wages Staff (a copy whereof is set out in the Schedule to the said Order) was confirmed :

AND WHEREAS Córas Iompair Éireann (in these Recitals referred to as the Board) has, in pursuance of section 44 (5) of the Transport Act, 1950 (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 (No. 125 of 1959), submitted to the Minister for Transport and Power a scheme (in these Recitals referred to as the amending scheme) amending the said Great Southern Railways Company Pension Scheme for Regular Wages Staff :

AND WHEREAS the amending scheme was, under sections 44 (2) and 44 (5) of the Transport Act, 1950 , referred back to the Board by the said Minister for reconsideration and resubmission:

AND WHEREAS the amending scheme was reconsidered and resubmitted to the said Minister by the Board :

AND WHEREAS by virtue of section 44 (8) of the Transport Act, 1950 , a superannuation scheme confirmed under section 44 of the Transport Act, 1944 , is deemed to be a superannuation scheme confirmed under section 44 of the Transport Act, 1950 :

AND WHEREAS the said Minister, having considered objections and representations in relation to the amending scheme, proposes to confirm the amending scheme, as reconsidered and resubmitted to him by the Board:

NOW, I, PETER BARRY, Minister for Transport and Power, in exercise of the powers conferred on me by sections 44 (4) and 44 (5) of the Transport Act, 1950 (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 (No. 125 of 1959), hereby, after consultation with the Minister for Finance, order as follows :

1. This Order may be cited as the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1974.

2. In this Order "the amending scheme" means the scheme (amending the Great Southern Railways Company Pension Scheme for Regular Wages Staff) submitted by Córas Iompair Éireann under section 44 (5) of the Transport Act, 1950 , and modified by the Minister for Transport and Power.

3. The amending scheme (a copy of which is set out in the Schedule to this Order) is hereby confirmed and shall be deemed to have come into operation on the 31st day of July, 1974.

SCHEDULE

THE GREAT SOUTHERN RAILWAYS COMPANY PENSION SCHEME FOR REGULAR WAGES STAFF AMENDING SCHEME 1974

1. Definitions:

In this amending Scheme "the existing Scheme" means the Great Southern Railways Company Pension Scheme for Regular Wages Staff confirmed by the Transport Act, 1944 , (Section 45) Order, 1945, (S.R. & O., No. 55 of 1945) as amended by (a) the Great Southern Railways Company Pension (Amendment) Scheme for Regular Wages Staff, confirmed by the Minister for Industry and Commerce on the 31st day of October 1957, (b) the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1961, ( S.I. No. 57 of 1961 ) (c) the Great Southern Railways Company Pension (Amendment) Scheme for Regular Wages Staff (Confirmation) Order, 1965, ( S.I. No. 49 of 1965 ) (d) the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1967, ( S.I. No. 8 of 1967 ) (e) the Great Southern Railways Company Pension Scheme for Regular Wages Staff Amending Scheme (Confirmation) Order, 1969, ( S.I. No. 59 of 1969 ) and (f) the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1971, ( S.I. No. 78 of 1971 ).

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

2. Continuance of the existing Scheme:

(1) The benefits provided by the existing Scheme shall continue to be paid or be payable under and in accordance with the terms thereof and without alteration to every pensioner whose right to pension accrued prior to the operative date and to the personal representative of any deceased pensioner if the deceased's rights to pension accrued prior to the operative date.

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

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

3. Amendment of the existing Scheme:

(1) Subject to the provisions of Article 2 of this amending Scheme, the existing Scheme shall be amended so as to conform to the provisions hereinafter contained, and every provision of the existing Scheme which is inconsistent with the provisions hereinafter contained shall cease to have effect.

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

4. Rate of Contribution:

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

5. Full Pension:

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

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

PETER BARRY,

Minister for Transport and

Power.

EXPLANATORY NOTE.

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