Dáil Éireann debate -
Wednesday, 17 Nov 1965

Vol. 218 No. 11

Ceisteanna—Questions. Oral Answers. - CIE Wage Grade Pensions.

11.

Mr. Casey

asked the Minister for Transport and Power if he will state in respect of the C.I.E. wages grade employees' scheme (a) the number of employees covered, (b) the annual income from employees' contributions and the Board's contributions in each of the last five 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 category of pensions, (e) the amount standing to the credit of the scheme at the latest available date, (f) how this money is invested, (g) the income from investments over the past five years, (h) the total amount paid in pensions over the past five years, and (i) the cost of administration of the scheme for the past five years.

Mr. Childers

With your permission, a Cheann Comhairle, I propose to circulate a tabular statement in the Official Report giving the information required by the Deputy in relation to the CIE superannuation schemes.

Following is the statement:—

C.I.E. WAGES GRADE PENSION SCHEMES.

Questions	Answers
(a) The number of employees covered	12,483 (November, 1965)
(b) The annual income from employeesq contributions and the Board's contributions in each of the last five years.		1960	1961	1962	1963	1964
	Employees	£71,270	£64,170	£83,666	£78,849	£77,183
	Board's	£200,000	£200,000	£200,000	£200,377	£218,501
(c) The number of pensioners and the weekly amount paid in pensions at a recent convenient date.	Number	3,315 (November, 1965) Weekly Amount (Scheme) £5,119.
		*Weekly Amount (Ex-Gratia) £775.
											Early Retirement Pensions.From 88/6d to 20/-d. 823
	MALE PENSIONERS:
(d) The number of pensioners in each category of pensions	88/6d.	80/-d.	78/6d.	70/-d.	68/6d.	60/-d.	58/6d.	51/3d.	33/66d.	20/-d.
	74	3	81	2	93	2	86	429	6	1682	88/6d.
	FEMALE PENSIONERS:
	33/-d.	23/-d.	20/-d.
	3	4	27
(e) The amount standing to the credit of the scheme at the latest available date.	£4,060,028 (at 31st December, 1964)
(f) How this money is invested		Trustee Stock— Irish	£3,876,038
		British	£29,829
	On Bank Deposit and Current Account and awaiting investment	(At 31st December, 1964)
		£154,161
(g) Income from investments over the past five years	1960	1961	1962	1963	1964
	£136,345		£147,837		£164,419		£175,334		£193,548
(h) The total amount paid in pensions over the past five years	1960		1961		1962		1963		1964
	£181,962		£205,916		£204,691		£226,042		£223,846
(i) The cost of administration of the scheme for the past five years	Administration cost borne by the Board of Córas Iompair Éireann as part of its day-to-day affairs. It is not possible to give an estimate of the cost of administration of the scheme.

* Pensions include ex-gratia payments by the Board as follows:—

Retirement prior to 1/4/1963.

MALES: Increase of 2/6d. per week subject to—Minimum pension of 20/- per week. Maximum pension of 51/3 per week.

FEMALES: Pensions increased to 20/- per week (Minimum).