asked the Minister for Transport and Power if he will state, in expansion of his reply of 15th June, 1971 in respect of each superannuation scheme sanctioned by him, (a) the employee contribution expressed as a percentage of wages or salary, (b) the employer contribution similarly expressed and (c) the amount of surplus or deficit in the operation of the scheme last year or the previous year.
Written Answers. - Superannuation Schemes.
71.
Following is the information requested:
PREAMBLE
There are varying contributions rates under some of the following schemes. Where this is the case the average contribution rate or alternatively the commonest contribution rate, is given. The variations are not of major significance in the overall context of the schemes.
|
Scheme |
Employee Contribution expressed as a percentage of Wages or Salary |
Employer Contribution similarly expressed |
Amount of surplus or deficit in the operation of the scheme last year (or the previous year) |
|
I ELECTRICITY SUPPLY BOARD |
|||
|
Members: |
|||
|
Members Superannuation Scheme 1961. |
Scheme is non-contributory |
Scheme is not funded; benefits are paid out of E.S.B. revenues. |
This is not funded scheme. |
|
General Employees: |
|||
|
General employees Superannuation Scheme, 1943. |
5.9% minimum (varies upward in accordance with age of member on entry to Scheme). |
5.9% minimum (varies upward in accordance with age of member on entry to Scheme). |
Surplus of £640,000 in 5 years ended 31/3/70 (to be offset under proposed Widows and Orphans pension scheme). |
|
Manual Workers: |
|||
|
Manual Workers Superannuation Scheme, 1943. |
5% under age 55. There are special rates for those over age 55. |
5% under age 55. There are special rates for those over age 55. |
Surplus of £319,307 in 5 years ended 31/3/70 (to be offset under proposed Widows and Orphans pension scheme). |
|
II BORD NA MÓNA |
|||
|
Members: |
|||
|
Members Superannuation Scheme, 1959 |
Scheme is non-contributory. |
Scheme is not funded; benefits paid from Boards administration expenses. |
This is not a funded scheme. |
|
General Employees: |
|||
|
General Employees Superannuation Scheme, 1956. |
6¼ |
6¼ |
Deficit of £54,000 (year ended 31/3/70). |
|
Regular Work Employees: |
|||
|
Regular Works Employees Superannuation Scheme, 1963. |
4.2% of actual earnings or of basic wage increased by 30% whichever is the |
4.2% of actual earnings or of basic wage increased by 30% whichever is the lesser. |
Surplus of £142,000 in 5 years ended 31/3/68. The existing supeannuation scheme which fundamentally altered the basis of the main scheme came into effect on 4th June, 1974. It will not be possible to assess the position with regard to the new Scheme until the next actuarial evaluation is carried out for the five year period ended 31/12/73. |
|
III BORD FÁILTE ÉIREANN |
|||
|
General Employees: |
|||
|
General Employees Superannuation Scheme, 1956. |
5% |
The scheme is not funded; benefits are paid from Boards general grant-in-aid. Cost to Employers is estimated as not less than 5%. |
This is not a funded scheme. |
|
IV CÓRAS IOMPAIR ÉIREANN |
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|
Members: |
|||
|
Córas Impair Éireann (Members) Superannuation Scheme, 1960. |
Scheme is non-contributory. benefits an paid by C.I.E. |
The Scheme is not funded, |
This is not a funded scheme. |
|
Miscellaneous: |
|||
|
(i) Female Clerks Provident Fund Amendment) Scheme, 1964. |
Separate accounts are not available for this scheme. |
— |
— |
|
(ii) Dundalk Foremen's Annuity. |
There am no members left in this scheme. |
— |
— |
|
Fund (Amendment) Scheme, 1964. |
|||
|
Clerical and Supervisory: |
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|
(i) C.I.E. Superannuation Scheme, 1951. |
4½% minimum (varies upward in accordance with age of member on entry to scheme). |
4½% minimum (varies upward in accordance with age of member on entry to scheme). |
A deficit of £177,000 31/12/66. |
|
(ii) Córas Iompair Éireann Salaried Officers' and Clerks' (G.S.R) Superannuation (Amendment) Scheme, 1962. |
4% minimum (varies upward in accordance with age on entry to scheme.) |
4% minimum (varies upward in accordance with age on entry to scheme.) |
A deficit of £2,675,000 31/12/67. |
|
Wages Grades: |
|||
|
All the wages grade schemes are treated as one for Actuarial purposes |
|||
|
(i) Great Southern Railways Pension Scheme for Regular Wages Staff, 1945. |
Scale of contributions varying according to wages earned. Contributions, on average, range from 2.15% to 2.75% of wages. |
There is no predetermined C.I.E. contribution. On the occasion of each 5 yearly valuation of the Fund the Actuary determines the amount which C.I.E. must contribute to keep the Fund solvent. In the five year period 31/12/88 to 31/3/73 C.I.E. will have to contribute approximately double the employees annual contribution per year. |
At 31/12/68 the actuarial valuation disclosed an excess of liabilities over assets of £3,065,000. |
|
(ii) Great Northern Railway Company (Ireland) Pension Fund (Amendment) Scheme for Wages Staff 1862. |
do. |
do. |
do. |
|
(iii) Great Northern Railway Company (Ireland) Wages Staff Pension Fund Reserves Amending Scheme, 1968, 1971. |
do. |
do. |
do. |
|
(iv) Córas Iompair Éireann Pension Scheme for Regular Wages Staff 1945. |
do. |
do. |
do. |
|
(V) ÓSTLANNA IOMPAIR ÉIREANN |
|||
|
Óstlanna iompair Éireann, (General Employees) Scheme, 1969. |
6% |
6% |
Accounts are not yet available(Scheme only short time in operation). |
|
Óstianna Iompair Éireann Teoranta (Regular Wages) Scheme, 1969. |
5¼% of the amount by which weekly pay exceeds twice the rate of contributory Old Age pension payable to a single man. |
The normal Company contribution is the same as that of the employee (i.e. 5¼%). |
do. |
|
Dublin Port and Docks Superannuation Scheme, 1961 |
5% |
No standard contribution rate, but is at least equal to employees contribution rate |
This scheme is not funded. |
|
Dublin Port and Docks Board Employees Grade A Superannuation Scheme. |
4½ |
No standard contribution rate, but it is at least equal to employees contribution rate. |
This scheme is not funded. |
|
Limerick Harbour Commissioners Officers' Superannuation Scheme, 1962. |
5% |
No Standard contribution rate, but it is at least equal to employees contribution rate. |
This scheme is not funded. |
|
Waterford Harbour Harbour Commissioners Superannuation scheme, 1962. |
5% |
No standard contribution rate, but it is at least equal to employees contribution rate. |
This scheme is not funded. |
|
Drogheda Harbour Commissioners Superannuation Scheme, 1964. |
Scheme is non-contributory |
Commissioners bear full cost of pensions. |
This scheme is not funded. |
72.
asked the Minister for Transport and Power the date of approval of Bord na Móna superannuation scheme which was stated to he effective from June, 1970; the relevant statutory instrument number; and, if the scheme has not yet been approved, the reason for the long delay.
Bord na Móna were informed on 2nd June, 1970 that the new amending superannuation scheme for Bord na Móna regular workers could operate from 4th June, 1970.
The Bord na Móna group of unions have since requested further amendments and have sought a discussion with me about a number of points. I propose to meet the group within the next few days. There would be no point in finalising the formal scheme until the additional matters now raised have been disposed of. The scheme when formally approved will, of course, he effective from 4th June, 1970.
73.
asked the Minister for Education if he will state, in expansion of his reply of 9th June, 1971 in respect of each superannuation scheme sanctioned by him (a) the employee contribution expressed as a percentage of wages or salary, (b) the employer contribution similarly expressed and (c) the amount of surplus or deficit in the operation of the scheme last year or the previous year.
The information sought by the Deputy is set out hereunder:
Superannuation Schemes Sanctioned by the Minister for Education
|
(a) Title and Statutory Instrument Reference |
(a) Employee contribution as a percentage of wages or salaries |
(b) Employer contribution as a percentage of wages or salaries |
(c) Surplus or deficit |
|
1. National School Teachers' Superannuation Scheme, 1934-1967-No. 45 of 1967. |
5% of pensionable salary |
There is no particular employers contribution. The position is that the difference between the amount collected by way of employee contributions and the amount paid out in respect of pension and gratuities is paid from the College General Funds. |
|
|
2. Superannuation Scheme for staffs of Training Colleges for National Teachers, 1933—nonstatutory. |
5% of pensionable salary |
No employer's contribution specified. The difference between the teachers' contributions and the amount paid in respect of pensions and gratuities is met out of State funds. |
|
|
3. Secondary School Teachers' Superannauation Scheme, 1929/1968 —No. 35 of 1968. |
5% of pensionable salary |
The schools contribute £20 per teacher. No percentage contribution is specified on the part of the Department but the balance of the amount paid in respect of pensions and gratuities is met out of State Funds. |
|
|
4. Superannuation Scheme for lay members of the staff Domestic Science Training Colleges, 1957 —non-statutory. |
5% of pensionable salary |
As for 1. above. |
74.
asked the Minister for Agriculture and Fisheries if he will state, in expansion of his reply of 9 June, 1971 in respect of each superannuation scheme sanctioned by him (a) the employee contributions expressed as a percentage of wages or salary. (b) the employer contribution similarly expressed and (c) the amount of surplus or deficit in the operation of the scheme last year or the previous year.
The information is as follows:
|
(a) |
(b) |
(c) |
|
|
Scheme |
Employee contributions as percentage of wages or salary |
Employer contribution as percentage of wages or salary |
Surplus or deficit |
|
Bord Bainne Superannuation Scheme 1967 |
(i) Employees not compulsorily insured under the Social Welfare Acts—in respect of all benefits— 5%. |
2½% |
Surplus £990 in 1969-70 |
|
(ii) Employees insured under Social Welfare Acts—(a) in respect of pension —37% of the sum found by deducting from salary an amount equal to twice the annual equivalent of old age contributory pension payable from time to time in respect. of a single man, and (b) in respect of other benefits under the scheme —13% |
|||
|
Bord Gráin Superannuation Scheme 1970 |
4.1% |
2.9% |
—* |
|
Bord Iascaigh Mhara Staff Superannuation Scheme |
6.1 |
No set contribution. Employer contributes the difference between outgoings and employee contributions in any year. |
See column (b) |
|
Inland Fisheries Trust Staff Superannuation Scheme |
(i) Employees not compulsorily insured under the Social Welfare Acts—in respect of all benefits— 5% |
Same as in column (a) |
Surplus £2,140 in 1970 |
|
(ii) Employees insured under the Social Welfare Acts—(a) in respect of pension —4% of the sum found by deducting from salary an amount equal to twice the annual equivalent of old age contributory pension payable from time to time in respect of a single man, and(b) in respect of other benefits under the scheme—1 % |
|||
|
Pigs and Bacon Commission Superannuation Scheme |
Minimum of 5% of salary or wages |
Contribution varies from year to year —it was 3.8% in 1969/70 |
—* |
*Scheme operates through an insurance company.
75.
asked the Minister for Industry and Commerce if he will state, in expansion of his reply of 9 June, 1971 in respect of each superannuation scheme sanctioned by him (a) the employee contribution expressed as a percentage of wages or salary, (b) the employer contribution similarly expressed and (c) the amount of surplus or deficit in the operation of the scheme last year or the previous year.
The information requested by the Deputy at (a) and (b) of the question, in so far as it is available to me, is set out in the following statement.
As already explained in my reply of 9th June, 1971, none of the schemes sanctioned by me involves the maintenance of a superannuation fund by the body concerned and accordingly it is not possible for me to give an answer to (c) of the question.
STATEMENT.
|
(a) |
(b) |
|
|
Title of Superannuation Scheme |
Employee contribution expressed as a percentage of wages or salary |
Employer contribution similarly expressed |
|
Export promotion Act, 1959 (General Employees) Superannuation Scheme, 1963. |
5% |
See note 1 |
|
Industrial Research and Standards Act, 1946, (Director and Permanent Staff) Superannuation Scheme, 1956. |
Nil |
See note 1 |
|
Nítrigin Éireann Teoranta Staff Pension Scheme. |
4½% |
4½% |
|
Industrial Development Authority Staff Superannuation Scheme, 1970. |
Insured Members:(i) contribution of 3.5% of salary less twice the annual equivalent of the contributory Old Age Pension payable from time to time in respect of a single man plus |
5% approximately |
|
(ii) a contribution of 1.5% of salary. |
||
|
Other Members:5% of salary. |
||
|
Shannon Free Airport Development Company Limited (General Employees') Superannuation Scheme, 1966. |
Contribution rate similar to that of Industrial Development Authority. |
1.8%(See note 2) |
1. The employer makes no contribution to a fund, but meets the cost of superannuation as it arises from revenue.
2. Relates to latest year available, i.e., year ended 31st December, 1969.
76.
asked the Minister for Local Government if he will state in expansion of his reply of 9th June, 1971, in respect of each superannuation scheme sanctioned by him (a) the employee contribution expressed as a percentage of wages or salary, (b) the employer contribution similarly expressed and (c) the amount of surplus or deficit in the operation of the scheme last year or the previous year.
The information requested is as follows in respect of the superannuation scheme sanctioned for the National Building Agency Limited:
(a) 5 per cent of salary.
(b) Anticipated cost to agency in first year=2.33 per cent.
(c) The scheme is not yet in operation—existing eligible staff have an option exercisable on or before 20th July, 1971, to enter the scheme or remain outside it.