University College Dublin, National University of Ireland, Dublin (Model) Superannuation Scheme 2023
AI-assisted research summary: This Scheme sets the rules for certain University College Dublin staff pension members, updates the age limit for continued membership to 70 for non-new entrants, and changes related contribution and survivor pension references.
S.I. No. 429/2023 - University College Dublin, National University of Ireland, Dublin (Model) Superannuation Scheme 2023 Download PDF Ãoslódáil PDF Notice of the making of this Statutory Instrument was published in “Iris Oifigiúil” of st September, 2023. section 25 (7), and in accordance with the Fifth Schedule, of the Universities Act 1997 (No. 24 of 1997), hereby make the following Scheme. 1. CITATION This Scheme may be cited as the University College Dublin (Model) Superannuation Scheme 2023. 2. COMMENCEMENT This Scheme shall be deemed to have commenced with effect from 1 January 2005. 3. ADOPTION OF RULES FOR PRE-EXISTING PUBLIC SERVICE PENSION SCHEME MEMBERS The rules set out in the Rules for Pre-Existing Public Service Pension Scheme Members Regulations 2014 ( S.I. No. 582 of 2014 ) (hereinafter called “The Regulations”) are adopted as the rules of this Scheme for the purposes of Article 2 of the Regulations, subject to the modifications specified in Articles 4, 5 and 6. 4. ARTICLE 5 OF THE REGULATIONS. MEMBERSHIP (a) In Article 5(2)(a) of the Regulations the following is inserted after the words “relevant body,”– “or who is an active member of the University College Dublin, National University of Ireland, Dublin (Closed) Pension Scheme 2010 as set out in S.I. 96 of 2010,” (b) In Article 5(2)(b) of the Regulations, “who is not a new entrant and whose actual pensionable service on attaining age 65 would be less than the vesting period, or” is deleted and the following is inserted in its place— “who is not a new entrant and whose actual pensionable service on attaining age 70 would be less than the vesting period, or” (c) In Article 5(5) of the Regulations, “A member who is not a new entrant may not continue in membership after having reached the age of 65.” is deleted and the following is inserted in its place— “A member who is not a new entrant may not continue in membership after having reached the age of 70.” 5. ARTICLE 7 OF THE REGULATIONS. CONTRIBUTIONS FOR PERSONAL SCHEME BENEFITS In Article 7(3) of the Regulations – “5% of pensionable remuneration or,” is deleted. 6. ARTICLE 29 OF THE REGULATIONS. SURVIVOR’S PENSION - CALCULATION In Article 29(3) of the Regulations – “In the case where the former member dies while in receipt of a pension, other than a pension based on Article 18 (Cost Neutral Early Retirement), a preserved pension or a pension awarded on medical grounds” is deleted and the following is inserted in its place – “In the case where the former member dies while in receipt of a pension, other than a pension based on Article 17 (Cost Neutral Early Retirement), a preserved pension or a pension awarded on medical grounds” GIVEN under my Official Seal, 30 August, 2023. SIMON HARRIS, The Minister for Public Expenditure, National Development Plan Delivery and Reform hereby consents to the foregoing Scheme. GIVEN under my Official Seal, 30 August, 2023. PASCHAL DONOHOE, Minister for Public Expenditure, National Development Plan Delivery and Reform. An tÃdarás um Ard-Oideachas hereby approves the foregoing Scheme. GIVEN under the Official Seal of An tÃdarás um Ard-Oideachas, 30 August, 2023. DR. ALAN WALL, Chief Executive Officer, An tÃdarás um Ard-Oideachas. GIVEN under the Common Seal of University College Dublin, National University of Ireland, Dublin., 30 August, 2023. MARIE O’CONNOR, Chair, Governing Authority, University College Dublin, National University of Ireland, Dublin. ORLA FEELY, President, University College Dublin, National University. EXPLANATORY NOTE This note is not part of the Instrument and does not purport to be a legal interpretation. The purpose of these Regulations is to adopt the Rules set out in the Schedule to the Rules for Pre-existing Public Service Pension Scheme Members Regulations 2014 ( S.I. No. 582 of 2014 ) as a scheme for the granting of superannuation benefits to or in respect of members of the staff University College Dublin who are not members of the Single Public Service Pension Scheme or the University College Dublin, National University of Ireland, Dublin (Closed) Pension Scheme 2010.