Electricity Supply Board (Superannuation) Order 2014

JurisdictionIreland
CitationIR SI 18/2014

Notice of the making of this Statutory Instrument was published in

“Iris Oifigiúil” of 31st January, 2014.

I, PAT RABBITTE, Minister for Communications, Energy and Natural Resources, in exercise of the powers conferred on me by section 5 of the Electricity Supply Board (Superannuation) Act 1942 (No. 17 of 1942), and having consulted with the Minister for Public Expenditure and Reform, hereby order as follows:

1. This Order may be cited as the Electricity Supply Board (Superannuation) Order 2014.

2. In this Order:

“Act of 1942” means the Electricity Supply Board (Superannuation) Act 1942 (No. 17 of 1942);

“Board” means the Electricity Supply Board;

“Minister” means the Minister for Communications, Energy and Natural Resources;

“scheme” means the superannuation scheme prepared by the Board pursuant to section 4 of the Act of 1942.

3. The scheme submitted to the Minister by the Board pursuant to section 5(1) of the Act of 1942 (the terms of which scheme are set out in the Schedule) is confirmed.

SCHEDULE

Terms of Superannuation Scheme

The Electricity Supply Board in exercise of the powers conferred on it by the Electricity Supply Board (Superannuation) Act, 1942 hereby makes a superannuation scheme as embodied in the following regulations:-

PART ONE — INTERPRETATION

1. Definitions

1.1 In this Scheme which may be cited as The ESB Defined Benefit Pension Scheme (the “Scheme”) unless inconsistent with the subject or context, the following words or expressions shall have the following meanings:

(a) “Account” means any of the accounts into which the Fund may from time to time be divided under Rule 20.1.

(b) The “Act” means the Electricity Supply Board (Superannuation) Act, 1942 .

(c) The “Actuary” means the actuary from time to time appointed by the Board for the purpose of the Scheme.

(d) “Added Service for Ill-Health” means additional Reckonable Service granted by the Committee under Rule 32.5.

(e) “Age” on any date means age of Member at that date.

(f) “Apprenticeship Service” means service in the Board as an apprentice which is reckonable under Rule 32.1.

(g) “Approved Organisation” means an organisation approved under Section 4 of the Superannuation and Pensions Act, 1963 (No. 24 of 1963).

(h) The “Board” means the Electricity Supply Board.

(i) “Casual or Temporary Service” means Casual or Temporary Service in the Board prior to admission to the Scheme which is reckonable under Rules 30.1, 31.1 or 31.2.

(j) “Civil Partner” in relation to a deceased Member means the Member’s Civil Partner within the meaning of the Civil Partnership Act with effect on and from:

(i) 23 December 2010 in the case of a party to whom Section 5 of the Civil Partnership Act applies, or

(ii) 1 January 2011 in any other case.

(k) “Civil Partnership Act” means the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 .

(l) The “Civil Service” means the Civil Service of the State or the Civil Service of the Government.

(m) The “Committee” means the Electricity Supply Board General Employees Superannuation Committee for the time being duly appointed for the purpose of the Scheme.

(n) “Compound Interest” means compound interest calculated as set out in Rule 40.

(o) “Contributing Member” means any person admitted to membership of the Scheme prior to 1 January 2011 who for the time being contributes to the Fund.

(p) “Co-ordinated Member” means a Member who is fully insured for the State Pension (Contributory) under the Social Welfare Acts in respect of his employment with the Board.

(q) “Defined Contribution Scheme Member” means a General Employee who:

(i) joined the Scheme on or after 6 April 1995, and

(ii) was a Member of the Scheme on 31 December 2011, and

(iii) opted by 30 November 2011 to cease to be a Contributing Member and to join the ESB Defined Contribution Pension Scheme with effect on and from 1 January 2012, and

(iv) did not accrue benefits under the Scheme in respect of any Reckonable Year, and

(v) have left their contributions in the Fund.

(r) “Dependent Child” means the child or legally adopted child or stepchild of any Contributing Member or retired Member or deceased Member who is:

(i) under 16 years of age or, if still pursuing a fulltime course of education, under 21 years of age, or

(ii) incapacitated by reason of mental or physical infirmity from maintaining himself for as long as such incapacity lasts, or

(iii) under 21 years of age and is undergoing instruction or training by any person or employer for any vocation, profession, or trade, being instruction or training approved of by the Committee for the purpose of the Scheme and is not in receipt of emoluments from the said person or employer which are of such an amount as would, in the opinion of the Committee, make him selfsupporting.

(s) “Disability Benefit” means the personal rate of disability benefit payable under the Social Welfare Acts, excluding any increase that is payable on age grounds, or by virtue of the recipient living alone, or in respect of a qualified adult or child dependant.

(t) “EirGrid” means the public limited company, of that name, established under Section 34 of the European Communities (Internal Market in Electricity) Regulations, 2000 (Statutory Instrument No 445 of 2000).

(u) The “EirGrid Committee” means the committee constituted under the EirGrid Scheme.

(v) The “EirGrid Regulations” means the European Communities (Internal Market in Electricity) Regulations, 2000 (Statutory Instrument No 445 of 2000).

(w) The “EirGrid Scheme” means the superannuation scheme or schemes to be made by EirGrid under Regulation 17(1) of the EirGrid Regulations.

(x) “ESB Defined Contribution Pension Scheme” means the scheme established by a Trust Deed dated 30 September 1991 (as amended from time to time) under its then name The ESB Subsidiary Companies Pension Scheme and now known as the ESB Defined Contribution Pension Scheme.

(y) “ESB Manual Workers’ Superannuation Scheme” means the scheme which was established in compliance with section 4 (1) (b) of the Act for the provision of retirement benefits to those who were employed by the Board as manual workers.

(z) “Failure of Health” means such a failure of health, mental or physical, as in the opinion of the Board incapacitates a Member from doing his ordinary work in the service of the Board, provided that where the Committee so requires, the failure of health shall be determined by a medical referee agreed upon between the Board and the Committee in each case.

(aa) “Final Pensionable Salary” means the Pensionable Salary being received by a Former Contributing Member at the Member’s Normal Retiring Date or earlier date of leaving service and ending on that date, provided that

(i) if the Former Contributing Member’s Pensionable Salary has been altered during the five years preceding the aforesaid date of retirement as a result of promotion or of the payment to him of pensionable emoluments in addition to his annual rate of basic remuneration, “Final Pensionable Salary” shall, if the Committee so think fit, mean whichever is the greater of the following two amounts that is to say:

(A) the amount of the average yearly Pensionable Salary received by the Member, during the said five years

(B) the amount of Pensionable Salary which would have been received in the year immediately preceding the said date of retirement and ending on that date if the hereinbefore mentioned promotion or payment had not been made,

(ii) if the Former Contributing Member has been absent on leave at reduced pay or without pay during any part of the hereinbefore mentioned year or five years as the case may be “Final Pensionable Salary” subject as aforesaid shall be calculated by reference to the full rate of Pensionable Salary which would have been payable had the Member not been so absent.

(iii) The provisions of part (i) of this Rule shall apply in the case of the incumbent office holder, on 14 July 1999, of the position of Chief Executive of ESB except that a period of three years shall be substituted wherever a period of five years is mentioned in part (i) of this Rule.

(bb) “Final 2011 Pensionable Salary” means the Pensionable Salary being received by a Contributing Member or Defined Contribution Scheme Member at 31 December 2011, provided that:

(i) if the Member’s Normal Retiring Date or earlier date of leaving service due to ill health or dying in service occurs during the three Reckonable Years 2012 to 2014 (both years inclusive) and if the Member’s Pensionable Salary at 31 December 2011 has been altered prior to 1 January 2012 during the three years preceding the aforesaid date of retirement as a result of promotion or of the payment to him of pensionable emoluments in addition to his annual rate of basic remuneration, Final 2011 Pensionable Salary” shall, if the Committee so think fit, mean whichever is the greater of the following two amounts that is to say:

(A) the amount of the average yearly Pensionable Salary received by the Member, during the said three years being 1 January 2009 to 31 December 2011, or

(B) the amount of Pensionable Salary as calculated prior to 31 December 2011 which would have been received in the year immediately preceding the said date of retirement or leaving service due to ill health or death and ending on that date if the hereinbefore mentioned promotion or payment had not been made,

(ii) if the Member’s Normal Retiring Date or earlier date of leaving service due to ill health or dying in service occurs during the three Reckonable Years 2012 to 2014 (both years inclusive) and if the Contributing Member or Defined Contribution Scheme Member has been absent on leave at reduced pay or without pay during any part of the immediately preceding year or three years as the case may be “Final 2011 Pensionable Salary” subject as aforesaid shall be calculated by...

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