asked the Minister for the Environment the method in which preserved superannuation benefits (lump sum) is operated under the Superannuation Acts and the superannuation schemes for: (a) officers and (b) servants; and the estimate of preserved benefits (lump sum) where ordinary or regular pay is £100 per week.
Written Answers. - Preserved Superannuation Benefits
658.
The concept of preserved superannuation benefits was introduced under the Superannuation Revision Scheme, 1977. There is no corresponding provision in the Local Government (Superannuation) Act, 1956. Under the revision scheme the benefits preserved become payable in the following circumstances:
(a) Officers—An officer who voluntarily ceases to hold his office, having had not less than five years of pensionable local service, and who is not employed in another position in which his service is capable of being reckoned under the Local Government (Superannuation) Act, 1956, will have his lump sum, allowance and death benefits preserved, on the basis of his actual service, that is, his pensionable local service. The lump sum and allowance will become payable, upon application for payment being made, when he reaches age 60 and the death gratuity in the event of death before that age. The amount of the death gratuity would be equivalent to the lump sum payable on the basis of his actual service, i.e. three-eightieths of pensionable remuneration for each year plus any odd fraction of a year of pensionable local service up to the date on which he ceased to hold his office.
The amount of preserved benefit in any case will be based on an officer's pensionable remuneration as increased by reference to pension increases granted in the meantime.
(b) Servants—Preserved benefits for servants are calculated on the same basis as for officers except for the purpose of determining so much of an allowance (pension) as relates to service on or after the 27 May 1977, (i.e. the effective date of the provisions of the Superannuation Revision Scheme, 1977) in which case the pensionable remuneration of a servant who is an insured person will be reduced by twice the maximum personal weekly rate of old age (contributory) pension payable on his last service day to a man who has no adult dependant or qualified children. Under this arrangement a servant with 40 years service would qualify for combined local service and social welfare pensions of not less than half pay.
The amount of a lump sum would depend on the number of years pensionable service and the date when the pensioner reaches 60 as well as the rate of pensionable remuneration suitably updated.