I move:—
Go ndeontar suim £250,000 chun íoctha an Mhuirir a thiocfaidh chun bheith iníoctha i rith na bliana dar críoch an 31adh Márta, 1936, alos an Chuntais Súncála Pinsean [an tAcht um Pinsin do Bhaintreacha agus do Dhílleachtaithe, 1935 (Uimh. 29 de 1935) Alt 42 (2).]
That a sum of £250,000 be granted to defray the Charge which will come in course of payment during the year ending 31st March, 1936, in respect of the Pensions Investment Account [Widows' and Orphans' Pensions Act, 1935 (No. 29 of 1935) Section 42 (2).]
The object of this Vote is to make available the £250,000 which the State is to contribute to widows' and orphans' pensions under Section 42 of the Widows' and Orphans' Pensions Act, 1935. This £250,000 will be paid into an account known as the Pensions Investment Account under the control of the Minister for Finance. All moneys collected as contributions under the Act will be paid into the Widows' and Orphans' Pensions Fund, and all pensions payable under the Act will be paid out of that fund. If at any time the moneys in the fund are insufficient to meet current liabilities the necessary additional moneys will be advanced from the Pensions Investment Account, while any moneys standing to the credit of the fund which are not required to meet current expenditure will be transferred to the Investment Account. As payment of pensions will commence in the first week of January next, before money begins to accrue from contributions, it is essential that this Vote should be passed before the rising of the Dáil.