asked the Minister for Transport and Power if he is aware that Córas Iompair Éireann pensioners are suffering severe hardships owing to the inadequacy of their pensions before and after reaching the age of seventy years; if he will take such steps as are necessary to secure the re-investing of the £3,000,000 in the pension fund in 6% National Loan, and thus enable the fund to pay a higher rate of pension; and if he will take steps to have the law amended to enable Córas Iompair Éireann pensioners to have a just and equitable pension paid to them on reaching the age of seventy years.
Ceisteanna—Questions. Oral Answers. - CIE Pensioners.
22.
As I explained in previous replies to questions on this subject the full cost of any increase in pensions to existing CIE pensioners would fall to be met by CIE 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. Under the existing legislation the initiative for proposing amendments to the scheme rests entirely with the Board and I see no necessity for amending legislation in this respect.
I am advised by CIE that the realisation of the investment in the superannuation fund and its investment in the 6 per cent. National Loan would not produce any greater income and would not, therefore, permit of higher pensions being paid.
In addition to the amount of their pension from CIE, wages, grade pensioners may qualify for unemployment or disability benefit at 65 years of age and at 70 years are eligible for contributory old age pensions, including such increases in benefits and pensions as may be payable from January, 1963 under the Social Welfare (Miscellaneous Provisions) Act, 1962. Both CIE and their workers are, of course, liable to pay the appropriate contributions towards the cost of such pensions.