S.I. No. 289/1977:

GREAT SOUTHERN RAILWAYS COMPANY AMENDING SUPERANNUATION SCHEME FOR REGULAR WAGES STAFF (CONFIRMATION) ORDER, 1977.

GREAT SOUTHERN RAILWAYS COMPANY AMENDING SUPERANNUATION SCHEME FOR REGULAR WAGES STAFF (CONFIRMATION) ORDER, 1977.

I, PADRAIG FAULKNER, Minister for Transport and Power, in exercise of the powers conferred on me by section 44 of the Transport Act, 1950 (No. 12 of 1950), as adapted by 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 the Public Service, order as follows:

1. This Order may be cited as the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1977.

2. In this Order "the scheme" means the scheme amending the Great Southern Railways Company Pension Scheme for Regular Wages Staff prepared by the Board and submitted to the Minister under section 44 of the Transport Act, 1950 (No. 12 of 1950), and set out in the Schedule to this Order.

3. The scheme is hereby confirmed and shall be deemed to have come into operation on the 1st day of July, 1977.

SCHEDULE.

THE GREAT SOUTHERN RAILWAYS COMPANY

PENSION SCHEME FOR REGULAR WAGES STAFF

AMENDING SCHEME 1977.

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 );

( f ) the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order, 1971, ( S.I. No. 78 of 1971 ) and

( g ) the Great Southern Railways Company Amending Superannuation Scheme for Regular Wages Staff (Confirmation) Order 1974, ( S.I. No. 250 of 1974 );

The term "operative date" means the 1st day of July 1977.

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 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 pension) 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.

TABLE A.

PADRAIG FAULKNER.

GIVEN under my Official Seal, this 8th day of September, 1977.

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.