Vol. 518 No. 3
102 Mr. McDowell asked the Minister for Public Enterprise the proposals, if any, she has to introduce a statutory instrument with regard to the CIE superannuation fund actuarial surplus; the benefits which will flow from any change; and if she will make a statement on the matter. [11372/00]
I assume the Deputy is referring to the CIÉ superannuation schemes restructuring proposals. The proposals have been agreed with the trade unions representing the schemes' members. They have also been considered by my Department and by the Department of Finance and have been subject to a consultation period of 28 days which was designed to allow for objections or representations to be made to me on the proposed changes.
There were no objections to the proposed changes and following discussions with the Attorney General's office, my Department is preparing a statutory instrument to confirm the proposals. My Department is currently awaiting certain information from CIE before it can finalise the statutory instrument.
The utilisation of the schemes' surplus covers, among other things, provisions for the amalgamation of the individual scheme funds into a single fund. In addition, any post retirement increases will be payable from the fund.
The proposals also provide for the following improvements for the members of the 1951 CIE superannuation scheme: an increase in the accrual rate for capital sums purposes from 1/30th of pensionable salary to 3/80ths of pensionable salary for each year of pensionable membership maximum 120/80ths; the existing limit of £2,000 which may be paid out of the scheme fund, at the board's discretion, to the personal representative of a deceased member, where grant of probate has not been taken out, has been increased to £6,000; persons who retire due to ill health with at least ten years pensionable membership, excluding notional pensionable membership, will have an additional period of ill health service added to their pensionable membership.
