Dáil Éireann debate -
Thursday, 15 Feb 1962

Vol. 193 No. 2

Ceisteanna—Questions. Oral Answers. - C.I.E. Pensions.

9.

Mr. Ryan

asked the Minister for Transport and Power if he will give details as of 31st December, 1961, of the Córas Iompair Éireann superannuation scheme in the form of a reply of 1st June, 1960.

14.

Mr. Casey

asked the Minister for Transport and Power if he will state in respect of the Córas Iompair Éireann superannuation scheme for wage grade employees, (a) the number of employees covered, (b) the annual income from employees' contributions and the Board's contributions in each of the last three years, (c) the number of pensioners and the weekly amount paid in pensions at a recent convenient date, (d) the number of pensioners in each of the various categories and (e) the amount standing to the credit of the scheme, and how this money is invested.

Mr. Childers

With the permission of the Ceann Comhairle, I propose to take Questions Nos. 9 and 14 together and to circulate a tabular statement with the Official Report giving the latest information available in relation to the C.I.E. Superannuation Schemes, in the form required by the Deputies. The figures for the year 1961 for the C.I.E. Salaried Officers' and Clerks' (G.S.R.) Scheme and for the C.I.E. Superannuation Scheme, 1951, are not yet available.

Following is the statement:

	C.I.E. Superannuation Scheme for Wages Grade Employees	C.I.E. Salaried Officers' and Clerks' (iii) (G.S.R.) Superannuation Scheme	C.I.E. Superannuation Scheme 1951
(a) Number of employees covered	11,998	833	1,563
		1959	1960(i)	1961(i)		1958	1959	1960		1958	1959	1960
(b) The annual income from employees' contributions and the Board's contributions in each of the last three years.	Employees'Board's	£118,079£200,000	£71,270£200,000	£64,170£200,000	Employees'Board's	£32,489£32,180	£30,847£30,882	£31,831£31,867	Employees'Board's	£41,904£41,513	£44,188£44,385	£50,413£50,413
	Number			2,879	Number			438	Number			90
(c) The number of pensioners and the weekly/monthly amount paid in pensions at a recent convenient date.	Weekly Amount	£3,787	Amount			£10,435(Monthly)	Amount			£1,335(Monthly)
Additional Weekly Amount payable by Board	£352(ii)
(d) The number of Pensioners on various fixed rates of pension and the amount of weekly pension paid to each of these groups.	12-d.1,176	20/-d.151	33/6d.6	51/3d.1,025
	The following Pensions are also paid under the Scheme:		Pensions of salaried staff are not paid at fixed rates and vary according to individual contribution history.
		Female
	10/-d.10	13/-d.6	18/-d.14
	In addition there are also 491 Pensioners retired before normal retiral age who receive pensions varying from 7/6d. per week to 51/3d. per week.
(e) The amount standing to the credit of the Scheme at the latest available date and how this money is invested	£3,199,516	£1,364,579	£1,270,832
Trustees Stock—Irish	£3,093,705	Trustee Stock—Irish —British	£1,073,226(iv) £289,386	Trustee Stock—Irish	£1,266,604
On Bank Deposit and Current Accounts and awaiting investment	£105,811	Cash at Bank	£1,967	Cash at Bank	£4,228

NOTES.

(i) The reductions in the amounts of employees' contributions in the years 1960 and 1961 compared with the figure for the year 1959, were due to the fact that arrears of contributions in respect of an amendment to the Scheme, are included in the figure for 1959;

(ii) Ex-gratia increases for pensioners who retired before 1st April, 1956;

(iii) This scheme has been closed to new entrants since 1st January, 1945;

(iv) These stocks were transferred to C.I.E. from the Railway Clearing System Superannuation Fund in 1947.

10.

Mr. Treacy

asked the Minister for Transport and Power, whether, further to a reply of 29th November, 1961, on the subject of C.I.E. pensions, he will now reconsider his decision of that date not to urge C.I.E. to submit an amended pension scheme so as to improve the position of C.I.E. pensioners at present in receipt of pensions as small as 8/- per week.

11.

Mr. Barrett

asked the Minister for Transport and Power if he has caused any enquiries to be made from Córas Iompair Éireann in regard to the inadequacy of pensions provided for retired employees; and, if so, what was the outcome of such enquiries.

12.

Mr. Casey

asked the Minister for Transport and Power if in view of the inadequacy of pensions paid to former members of the wages grades of Córas Iompair Éireann he will invite the Board to review the present scheme with a view to submitting proposals to him for an amended scheme.

13.

Mr. Galvin

asked the Minister for Transport and Power if he is aware that pensions paid to wages grade employees of C.I.E. are completely inadequate; and, if so, whether he will invite the attention of the Board of C.I.E. to the scheme with a view to having increased pensions awarded.

Mr. Childers

With the permission of An Ceann Comhairle, I propose to take Questions Nos. 10, 11, 12 and 13 together.

As I indicated in my reply of 29th November, 1961, the initiative in amending C.I.E. superannuation schemes rests with the Board. The extent to which C.I.E. would, however, be prepared to add to their already substantial commitments for pension purposes is a matter falling entirely within the discretion of the Board. The full cost of any increase in pensions to existing C.I.E. pensioners would fall to be met by C.I.E. in the form of ex gratia payments, unless of course the contributing members were prepared to agree to an amendment of the scheme so as to provide for an increase in contributions to meet all or part of the cost.

I should again like to point out that C.I.E. wages grade pensioners are eligible for contributory old age pensions under the Social Welfare (Amendment) Act, 1960, and employers and employees including C.I.E. and their workers are liable for the appropriate contributions towards the cost of that pension.

15.

General MacEoin

asked the Minister for Transport and Power (1) what is the amount paid to Córas Iompair Éireann employees under 65 years of age who have been pensioned off; (2) what is the present amount of the Córas Iompair Éireann Pension Fund; (3) whether he has received proposals from Córas Iompair Éireann to increase the pension payable to existing pensioners over 70 years of age; and (4) whether the Pension Fund is invested and the amount of interest earned thereon per annum.

Mr. Childers

I assume that the Deputy's question relates to the C.I.E. Wages Staff Pension Scheme.

The normal ages of retirement for the purposes of this scheme are 65 years in the case of male staff and 60 years in the case of female staff.

I am advised by C.I.E. that the total amount of pensions being paid under the Scheme as at 31st December, 1961, was £197,000 per annum. The amount being paid to members of the scheme who retired for such reasons as ill-health before the normal retiring ages, was £40,000 per annum. The present amount of the Wages Staff Pension Fund is £3,199,516; these moneys are invested and the interest earned thereon for the year ended 31st December, 1961, was £148,035.

C.I.E. have made no proposals to me for increasing the rate of pension payable to pensioners over 70 years of age. Any increase for existing pensioners would have to be met by ex gratia grants by the Board unless the contributing members were to agree to an amendment of the scheme increasing contributions sufficiently to meet all or part of the cost.