asked the Minister for Industry and Commerce on what date he instructed the board of C.I.E. to submit to him an amending superannuation scheme for their employees in the conciliation grades; whether the scheme has since been submitted, and, if not, what is the cause of the delay.
Ceisteanna—Questions. Oral Answers. - C.I.E. Employees' Superannuation.
C.I.E. were directed on 18th July, 1955, to submit an amending superannuation scheme to give reasonable pensions to their wage grade employees. I am informed that there have been discussions on the matter between C.I.E. and the trade unions and that C.I.E., at the request of the unions, are having certain actuarial investigations carried out. C.I.E. inform me that they have received a progress report from the actuaries which indicates that they do not expect to have their examination and report completed for at least three months.
asked the Minister for Industry and Commerce if he will state in respect of the C.I.E. superannuation scheme for wages grade employees (a) the number of employees covered, (b) the income from employees' contributions and the board's contribution in respect of the year ended 31st December, 1955, (c) the number of pensioners and the weekly amount paid in pensions at a recent convenient date, (d) the number of pensioners with pensions of 6/-, 12/-, 20/-, 30/- and 37/6 and (e) the amount standing to the credit of the scheme at the latest available date, and how this money is invested.
With your permission, a Cheann Comhairle, I propose to circulate a tabular statement with the Official Report giving the particulars requested by the Deputy.
Following is the statement:
(a) Number of employees covered: 13,236
(b) Income from employees' contributions and the board's contribution in the year ended 31st December, 1955.
|
Employees' contributions: |
£24,606 |
|
Board's contribution: |
£180,000 |
(c) (i) Number of pensioners at 5th February, 1956: 1,971
(ii) Weekly amount paid in pensions: £2,108
(d) Number of pensioners paid specified amounts:
|
Males |
|||
|
Rate per week |
No. |
||
|
6/- |
821 |
||
|
12/- |
18 |
||
|
20/- |
55 |
||
|
30/- |
14 |
||
|
37/6 |
871 |
|
Females |
|||
|
6/- |
2 |
||
|
10/- |
2 |
||
|
13/- |
15 |
In addition there are 173 reduced pensions varying from 13/7 to 20/- per week paid to employees who have retired before the normal retiring age owing to ill health.
(e) (i) Amount standing to the credit of the schemes at 31st December, 1955: £1,706,800
(ii) This money is invested as follows: Invested in—
|
£ |
|
|
Irish Government Securities |
746,406 |
|
Irish Transport Securities |
551,022 |
|
Irish Municipal Securities |
310,012 |
|
Irish Public Board Securities |
4,500 |
|
Cash at bank |
£ |
|
On deposit |
301 |
|
Current Account |
1,688 |
|
Board's contribution plus members' contributions, less pensions paid |
92,871 |
|
£1,706,800 |
|
In addition to the above, the following amounts have accrued due or become payable:—
|
£ |
|
|
Accrued due for interest on investments |
23,160 |
|
Income-tax recoverable |
3,553 |
|
£26,713 |
|