Great Northern Railway Company (Ireland) Pension Fund (Amendment) Scheme For Wages Staff (Confirmation) Order, 1962

• Jurisdiction: Ireland
• Citation: IR SI 53/1962
• Year: 1962

S.I. No. 53 of 1962.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND (AMENDMENT) SCHEME FOR WAGES STAFF (CONFIRMATION) ORDER, 1962.

WHEREAS by subsection (4) of section 15 of the Great Northern Railway Act, 1958 (No. 20 of 1958), the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff was continued in being :

AND WHEREAS Córas Iompair Éireann has, in pursuance of subsection (10) of section 15 of the Great Northern Railway Act, 1958 , and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. 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 provision of the said Great Northern Railway Company (Ireland) Pension Fund for Wages Staff :

AND WHEREAS the Minister for Transport and Power, having considered objections and representations in relation to the amending scheme, proposes to confirm the amending scheme without modification :

NOW, I, ERSKINE H. CHILDERS, Minister for Transport and Power in exercise of the powers conferred on me by subsection (10) of section 15 of the Great Northern Railway Act, 1958 (No. 20 of 1958), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), hereby, after consultation with the Minister for Finance, order as follows :— 1. This Order may be cited as the Great Northern Railway Company (Ireland) Pension Fund (Amendment) Scheme for Wages Staff (Confirmation) Order, 1962. 2. In this Order " the amending scheme " means the scheme (amending the provisions of the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff) submitted by Córas Iompair Éireann under subsection (10) of section 15 of the Great Northern Railway Act, 1958 . 3. The amending scheme (a copy of which is set out in the Schedule to this Order) is hereby confirmed and shall come into operation on the 28th day of March, 1962.

SCHEDULE.

GREAT NORTHERN RAILWAY COMPANY (IRELAND) PENSION FUND (AMENDMENT) SCHEME FOR WAGES STAFF.

1. Definitions :

In this amending Scheme the following words and expressions shall have the meanings hereby assigned to them unless there is something in the subject matter or context repugnant to such construction :—

" The existing Scheme " means the Pension Fund for the Wages Staff of the former Great Northern Railway Board mentioned in the Agreement scheduled to the Great Northern Railway Act, 1958 (otherwise known and referred to in the title hereof as the Great Northern Railway Company (Ireland) Pension Fund for Wages Staff) in so far as the same applies to :—

(a) any former officer or servant of the Great Northern Railway Board transferred to the Board;

(b) every person who immediately before the 1st day of October, 1958, was entitled to benefit thereunder and who was resident in the State when he first became so entitled.

" The Board " means Córas Iompair Éireann.

" This Scheme " means the existing Scheme as hereby amended.

" The Fund " means the Fund vested in the Trustees for the purposes of this Scheme.

" The Trustees " means the person or persons in whom for the time being the Fund is vested.

" Regular Wages Staff " means the Regular Wages Staff of the Board.

" Full Pension " means a pension payable under and in accordance with the provisions of this or the existing Scheme to a person who has retired after reaching the normal age of retirement.

" Deferred Pension " and " Special Pension " means pensions granted under and in accordance with the provisions of Article 16 of this Scheme.

" Reduced Pension " means any pension, other than a full, deferred or special pension, payable or awarded to any person under and in accordance with the provisions of this or the existing Scheme.

" Existing member " means a contributing member of the existing Scheme at the date of confirmation of this Scheme.

" Existing pensioner " means a person alive at the date of confirmation of this Scheme who on that date is receiving or is entitled to receive a full or reduced pension under the existing Scheme.

" Service " means and includes service with the Great Northern Railway Company (Ireland), the Great Northern Railway Board and the Board.

" Operative date " means the date prescribed by the Order confirming this Scheme as the date upon which this amending Scheme is to come into operation.

2. Continuance of Existing Scheme :

(1) The benefits provided by the existing Scheme shall continue to be paid under and in accordance with the terms thereof and without alteration to every existing pensioner whose right to pension accrued prior to 1st October, 1958.

(2) Nothing in this amending Scheme shall affect the rights of any of the persons mentioned in the preceding sub-article, nor shall this amending Scheme (save in so far as it makes retrospective provision for payment of increased contributions and pensions) affect any subsisting right or liability accrued to or incurred by any person under the existing Scheme prior to the date of confirmation of this Scheme.

3. Amendment of Existing Scheme :

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 (including rule 21 of the rules of the existing Scheme as set out in the Schedule to the Trust Deed dated the 31st day of August, 1938) shall cease to have effect.

4. Membership :

(1) No person who ceases or who has ceased to be a member of this or of the existing Scheme shall be readmitted to membership save in accordance with the provisions in that behalf hereinafter contained.

(2) All existing members shall be deemed to have been appointed to the Regular Wages Staff.

(3) Subject to the provisions of this Scheme in relation to promotion, a member who ceases to be employed by the Board on its Regular Wages Staff shall cease to be a member.

(4) Membership of this Scheme is not to be taken as conferring or implying any security of tenure.

5. Application to Existing Pensioners and Former Members :

The provisions of this amending Scheme shall, in so far as the same may be applicable, apply to—

(a) every existing pensioner whose right to pension accrued on or after the 1st day of October, 1958, and

(b) the personal representative of any deceased pensioner if the deceased's right to pension accrued on or after the said date.

(c) every former member alive at the operative date who is entitled to exercise the option to receive a deferred or special pension within the meaning of Article 16 hereof.

6. Normal Age of Retirement :

For the purposes of this Scheme, the normal age of retirement shall be 65 years of age.

7. Full Pension :

(1) On retirement of a member who has reached the normal age of retirement he shall be paid one or other of the following full pensions :—

(a) 33/6d. per week for life, or, in the alternative,

(b) 51/3d. per week for a period of five years and thereafter 20/- per week for life.

(2) If any person becoming entitled on or after the date of confirmation of this Scheme to a full pension desires to be paid at the alternative rate mentioned above, he must so elect by notice in writing addressed to the Board's Chief Accountant by whom such notice must be received not later than one calendar month prior to the date of actual retirement. In default of election, payment shall be at the appropriate rate first above mentioned.

(3) In the event of the death, within five years from the date of retirement, of a pensioner receiving or entitled to receive a full...