Dáil Éireann debate -
Wednesday, 13 Feb 1963

Vol. 199 No. 10

Ceisteanna—Questions. Oral Answers. - CIE Superannuation Scheme.

33.

Mr. T. O'Donnell

andMr. Ryan asked the Minister for Transport and Power if he will give details as at 31st December 1961, or at the latest available date, of the Córas Iompair Éireann superannuation scheme in the form of a reply of 15th February, 1962.

Mr. Childers

With the permission of the Ceann Comhairle, I propose to circulate a tabular statement with the Official Report giving the information required by the Deputies in relation to the CIE superannuation schemes, as at the latest available date in respect of each scheme.

Following is the statement:—

	CIE Superannuation Scheme for Wages Grade Employees	CIE Salaried Officers' and Clerks' (G.S.R.) Superannuation Scheme (ii)	CIE Superannuation Scheme, 1951
(a) Number of employees covered	12,119	764	1,943
		1960	1961	1962		1959	1960	1961		1959	1960	1961
(b) The annual income from employees' contributions and the Company's contributions in each of the last three years	Employees'	£71,270	£64,170	£83,666	Employees'	£30,847	£31,831	£32,290	Employees'	£44,188	£30,413	£65,108
	Board's	£200,000	£200,000	£200,000	Board's	£30,882	£31,867	£32,326	Board's	£44,385	£30,413	£65,108
(c) The number of pensioners and the weekly/monthly amount paid in pensions at a recent convenient date.	Number	2,925	Number	423	Number	107
	Weekly Amount	£3,820	Amount	£10,843(monthly)	Amount	£1,639(monthly)
	Additional Weekly amount payable by Board (i)	£312
(d) The number of Pensioners on various fixed rates of pension and the amount of weekly pension paid to each of these groups.	Male
	12/-d.	20/-d.	33/6.d	51/3d.
	——	——	——	——
	1,040	327	7	954
	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.	13/-d.	18/-d.
	——	——	——
	10	6	15
	In addition there are also 566 Pensioners retired before normal retiral age who receive pensions varying from 5/-d. per week to 51/3d. per week.
(e) The amount standing to the credit of the Schemes at the latest available date and how this money is invested.	Trustee Stock—Irish	£3,293,417	Trustee Stock—Irish	£1,213,251	Trustee Stock—Irish	£1,500,717
					Trustee Stock—British	£239,389 (iii)
	On Bank Deposit and Current Accounts and awaiting investment	£135,577	Cash at Bank	£2,341	Cash at Bank	£125

NOTES:

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

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

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