Dáil Éireann díospóireacht -
Wednesday, 26 Feb 1958

Vol. 165 No. 5

Ceisteanna—Questions. Oral Answers. - C.I.E. Superannuation Scheme.

Mr. N. Lemass

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 annual income from employees' contributions and the board's contributions in each of the last three years, (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/-, 37/6, and 51/6, and (e) the amount standing to the credit of the scheme at the latest available date, and how this money is invested.

Mr. S. Lemass

With the permission of the Ceann 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

13,100

(b) Annual income from employees' contributions and the board's contributions in each of the last three years ended 31st March:—

	1955	1956	1957
Employees' contributions	£24,606	£25,210	£37,132
Board's contributions	£180,000	£180,000	£250,000

(c) (i) Number of pensioners at 23rd February, 1958	2,286
(ii) Weekly amount paid in pensions	£2,725

(d) Number of pensioners paid specified amounts:

Males
Rate per week	No.
6/-	Nil
12/-	1,000
20/-	44
30/-	10
37/6	550
51/3	412
Females
6/-	Nil
10/-	9
13/-	10
18/-	7

In addition there are 244 reduced pensions between 7/6 and 51/3 per week paid to employees who have retired before the normal retiring age.

(e) (i) Amount standing to the credit of the scheme at 31st December, 1956

£1,889,260

(ii) This money is invested as follows:

Irish Government Securities	859,955
Irish Transport Securities	551,022
Irish Municipal Securities	311,532
Irish Public Boards Securities	4,500
	£1,727,009
On Bank Deposit and Current Account and awaiting investment	162,251
	£1,889,260