S.I. No. 289/2024 - Electricity Supply Board (Superannuation) Order 20

S.I. No. 289/2024 - Electricity Supply Board (Superannuation) Order 2024 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.

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s)or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile Statutory InstrumentsIonstraimí Reachtúla 2024 S.I. No. 289/2024 - Electricity Supply Board (Superannuation) Order 2024 S.I. No. 289/2024 - Electricity Supply Board (Superannuation) Order 2024 AmendmentsLeasuithe Download PDF Íoslódáil PDF Notice of the making of this Statutory Instrument was published in “Iris Oifigiúil” of 18th June, 2024. I, EAMON RYAN, Minister for the Environment, Climate and Communications, in exercise of the powers conferred on me by section 5 of the Electricity Supply Board (Superannuation) Act 1942 (No. 17 of 1942), and having consulted with the Minister for Public Expenditure, NDP Delivery and Reform, hereby order as follows: 1. This Order may be cited as the Electricity Supply Board (Superannuation) Order 2024. 2. In this Order: “Act of 1942” means the Electricity Supply Board (Superannuation) Act 1942 (No. 17 of 1942); “Board” means the Electricity Supply Board; “Minister” means the Minister for the Environment, Climate and Communications; “scheme” means the superannuation scheme prepared by the Board pursuant to section 4 of the Act of 1942. 3. The scheme submitted to the Minister by the Board pursuant to section 5

(1)of the Act of 1942 (the terms of which scheme are set out in the Schedule) is confirmed. SCHEDULE Terms of Superannuation Scheme The Electricity Supply Board in exercise of the powers conferred on it by the Electricity Supply Board (Superannuation) Act, 1942 hereby makes a superannuation scheme as embodied in the following regulations:- PART ONE - INTERPRETATION 1. Definitions 1.1 In this Scheme which may be cited as The ESB Defined Benefit Pension Scheme (the “Scheme”) unless inconsistent with the subject or context, the following words or expressions shall have the following meanings: “Account” means any of the accounts (if any) into which the Fund may from time to time be divided under Rule 20.1. “Act” means the Electricity Supply Board (Superannuation) Act, 1942 . “Actuary” means the actuary from time to time appointed in accordance with Rule 10 for the purposes of the Scheme. “Added Service for Ill-Health” means additional Reckonable Service granted by the Trustees under Rule 32.5. “Age” on any date means age of Member at that date. “Apprenticeship Service” means service in the Board as an apprentice which is reckonable under Rule 32.1. “Alternative Lump Sum” has the meaning given to it in Rule 38.11 and is the lump sum for which a Contributing Member may elect to contribute under Rule 38.11, payable in the event of the Member’s death in accordance with the Rules. “Approved Organisation” means an organisation approved under Section 4 of the Superannuation and Pensions Act, 1963 (No. 24 of 1963). “Board” means the Electricity Supply Board. “Casual or Temporary Service” means casual or temporary service with the Board prior to admission to the Scheme which is reckonable under Rules 30.1(b), 31.1(

b)or 31.2(b). “Civil Partner” means, in relation to a Member, a person with whom he is a party to a Civil Partnership which has not been dissolved or the subject of a decree of nullity (as provided for in Parts 11 and 12 respectively of the Civil Partnership Act). “Civil Partnership Act” means the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 (No. 24 of 2010). “Civil Service” means the Civil Service of the State or the Civil Service of the Government. “Committee” means the Electricity Supply Board General Employees Superannuation Committee previously appointed for the purpose of the Scheme whose powers, rights, discretions, privileges, duties, and liabilities hereunder and elsewhere transferred to the Trustees with effect from the Operative Date whereupon the Committee ceased to exist. “Compound Interest” means compound interest calculated as set out in Rule 40. “Conflicts of Interest Policy” means the policy or policies setting out how individual Trustees should act where they may have outside duties or interests in their capacity as employees and/or directors of the Board or other group companies that might conflict with their duties as a Trustee which policy shall be include a register of Trustees’ interest. “Contributing Member” means any person admitted to membership of the Scheme prior to 1 January 2011 who for the time being contributes to the Fund. “Co-ordinated Member” means a Member who is fully insured for the State Pension (Contributory) under the Social Welfare Acts in respect of his employment with the Board. “Defined Contribution Scheme Member” means a General Employee who: (
i)joined the Scheme on or after 6 April 1995, and (
ii)was a Member of the Scheme on 31 December 2011, and (iii) opted by 30 November 2011 to cease to be a Contributing Member and to join the ESB Defined Contribution Pension Scheme with effect on and from 1 January 2012, and (
iv)did not accrue benefits under the Scheme in respect of any Reckonable Year, and (
v)have left their contributions in the Fund. “Dependent Child” means the child or legally adopted child or step child of any Contributing Member or retired Member or deceased Member who is: (
i)under 16 years of age or, if still pursuing a fulltime course of education, under 21 years of age, or (
ii)incapacitated by reason of mental or physical infirmity from maintaining himself for as long as such incapacity lasts, or (iii) under 21 years of age and is undergoing instruction or training by any person or employer for any vocation, profession, or trade, being instruction or training approved of by the Trustees for the purpose of the Scheme and is not in receipt of emoluments from the said person or employer which are of such an amount as would, in the opinion of the Trustees, make him self supporting and “Dependent Children” means more than one such Dependent Child. “Directive of 2016” means Directive (EU) 2016/2341 of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast). “Disability Benefit” means the personal rate of disability benefit payable under the Social Welfare Acts, excluding any increase that is payable on age grounds, or by virtue of the recipient living alone, or in respect of a qualified adult or child dependant. “Early Retirement Scheme” means an early retirement arrangement approved by the Board with the consent of the Minister. “EirGrid” means the public limited company, of that name, established under Section 34 of the European Communities (Internal Market in Electricity) Regulations, 2000 (S. I. No. 445 of 2000). “EirGrid Committee” means the former committee constituted under the EirGrid Scheme, which committee ceased to function in relation to the Scheme on there no longer being any Contributing Members in the service of EirGrid. “EirGrid Regulations” means the European Communities (Internal Market in Electricity) Regulations, 2000 (S. I. No. 445 of 2000). “ESB Board” means the board of directors of the Electricity Supply Board. “EirGrid Scheme” means the superannuation scheme or schemes to be made by EirGrid under Regulation 17

(1)of the EirGrid Regulations. “ESB Defined Contribution Pension Scheme” means the scheme established by a Trust Deed dated 30 September 1991 (as amended from time to time) under its then name The ESB Subsidiary Companies Pension Scheme and now known as the ESB Defined Contribution Pension Scheme. “ESB Manual Workers’ Superannuation Scheme” means the scheme which was established in compliance with section 4

(1)(

b)of the Act for the provision of retirement benefits to those who were employed by the Board as manual workers. “Failure of Health” means such a failure of health, mental or physical, as in the opinion of the Board incapacitates a Member from doing his ordinary work in the service of the Board, provided that where the Trustees so require, the failure of health shall be determined by a medical referee agreed upon between the Board and the Trustees in each case. “Family Law Acts” means the Family Law Acts 1995, the Family Law (Divorce) Act 1996 , the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 and the Marriage Act 2015 . “Final Pensionable Salary” means the Pensionable Salary being received by a Former Contributing Member at the Member’s Normal Retiring Date or earlier date of leaving service and ending on that date, provided that: (
i)if the Former Contributing Member’s Pensionable Salary has been altered during the five years preceding the aforesaid date of retirement as a result of promotion or of the payment to him of pensionable emoluments in addition to his annual rate of basic remuneration, “Final Pensionable Salary” shall, if the Trustees so think fit, mean whichever is the greater of the following two amounts that is to say: (A) the amount of the average yearly Pensionable Salary received by the Member, during the said five years (B) the amount of Pensionable Salary which would have been received in the year immediately preceding the said date of retirement and ending on that date if the hereinbefore mentioned promotion or payment had not been made, (
ii)if the Former Contributing Member has been absent on leave at reduced pay or without pay during any part of the hereinbefore mentioned year or five years as the case may be “Final Pensionable Salary” subject as aforesaid shall be calculated by reference to the full rate of Pensionable Salary which would have been payable had the Member not been so absent; and/or (iii) the provisions of part (
i)of this Rule shall apply in the case of the incumbent office holder, on 14 July 1999, of the position of Chief Executive of ESB except that a period of three years shall be substituted wherever a period of five years is mentioned in part (
i)of this Rule. “Final 2011 Pensionable Salary” means the Pensionable Salary being received by a Contributing Member or Defined Contribution Scheme Member at 31 December 2011, provided that: (
i)if the Member’s Normal Retiring Date or earlier date of leaving service due to ill health or dying in service occurs during the three Reckonable Years 2012 to 2014 (both years inclusive) and if the Member’s Pensionable Salary at 31 December 2011 has been altered prior to 1 January 2012 during the three years preceding the aforesaid date of retirement as a result of promotion or of the payment to him of pensionable emoluments in addition to his annual rate of basic remuneration, Final 2011 Pensionable Salary” shall, if the Trustees so think fit, mean whichever is the greater of the following two amounts that is to say: (A) the amount of the average yearly Pensionable Salary received by the Member, during the said three years being 1 January 2009 to 31 December 2011, and (B) the amount of Pensionable Salary as calculated prior to 31 December 2011 which would have been received in the year immediately preceding the said date of retirement or leaving service due to ill health or death and ending on that date if the hereinbefore mentioned promotion or payment had not been made, (
ii)if the Member’s Normal Retiring Date or earlier date of leaving service due to ill health or dying in service occurs during the three Reckonable Years 2012 to 2014 (both years inclusive) and if the Contributing Member or Defined Contribution Scheme Member has been absent on leave at reduced pay or without pay during any part of the immediately preceding year or three years as the case may be “Final 2011 Pensionable Salary” subject as aforesaid shall be calculated by reference to the full rate of Pensionable Salary at 31 December 2011 which would have been payable had the Member not been so absent, (iii) the provisions of (
i)and (
ii)shall cease to apply at 31 December 2014. “Final Net Pensionable Salary” means for the purposes of calculating spouses’ and children’s pensions in respect of a Co-ordinated Member who is a Former Contributing Member, the amount by which Final Pensionable Salary exceeds the rate of State Pension (Contributory) payable from time to time to a person who has no adult dependant or qualified children, and for the purposes of all other Rules in respect of a Co-ordinated Member who is a Former Contributing Member, the amount by which Final Pensionable Salary exceeds twice the rate of State Pension (Contributory) payable as aforesaid, being received by a Contributing Member who is a Former Contributing Member at the Member’s Normal Retiring Date or earlier date of leaving service and ending on that date. “Final 2011 Net Pensionable Salary” means for the purposes of calculating spouses’ and children’s pensions in respect of a Co-ordinated Member who is or was a Contributing Member on 1 January 2012 or who is a Defined Contribution Scheme Member, the amount by which Final 2011 Pensionable Salary exceeds the rate of the State Pension (Contributory) payable at 31 December 2011 to a person who has no adult dependant or qualified children, and for the purposes of all other Rules in respect of a Co-ordinated Member who is or was a Contributing Member on 1 January 2012 or who is a Defined Contribution Scheme Member, the amount by which Final 2011 Pensionable Salary exceeds twice the rate of the State Pension (Contributory) payable as aforesaid at 31 December 2011. “Former Contributing Member” means any person who contributed to the Fund prior to 1 January 2012 and has left the service of the Board prior to that date. “Former Manual Member” means a Member who immediately before 1 October 1981 was a member of the ESB Manual Workers’ Superannuation Scheme, and who elected to transfer to the Scheme with effect from 1 October 1981. “Full-Time Hours” for any employee of the Board means not less than 39 hours per week, or not less than such other number of hours per week as the Board may from time to time determine, and the Board may determine different numbers of hours per week for different employees or different classes of employee. “Fund” means the fund established for the purpose of this Scheme as provided by the Regulations of the Minister and as otherwise described in Part Three hereof. “General Employee” means: (
a)any person, aged 16 years or over in the employment of the Board prior to 1 January 2011 who under the terms of his employment is ordinarily expected to work at least 20% of Full-Time Hours; (
b)any other employee who may be classified by the Board prior to 1 January 2011 as a General Employee for the purpose of the Scheme; (
c)former members of the ESB Manual Workers’ Superannuation Scheme who were in receipt of benefits from that scheme on 31 March 1982 and whose benefits became payable from this Scheme with effect from 1 April 1982; and (
d)any Member who was a Former Manual Member, and who on 31 December 2010 was in the service of the Board and any question arising as to whether a person is a General Employee, including whether they are or were in the service of the Board, shall be determined by the Board in consultation with the Trustees. “Index” means the Consumer Price Index (All items) published by the Irish Central Statistics Office or if the Index is not published at the relevant time or has ceased publication, any other index as the Trustees shall determine, or if the Index is compiled in a substantially different manner, any other index as the Trustees may determine to correspond as nearly as may be to the Index if it had continued in its previous form. “Invalidity Pension” means personal rate of invalidity pension payable under the Social Welfare Acts, excluding any increase that is payable on age grounds, or by virtue of the recipient living alone, or in respect of a qualified adult or child dependant. “Job-Sharing” means the sharing arrangement of a full-time post by two employees with the consent of the Board. “Job Seeker’s Benefit” means the personal rate of Job Seeker’s Benefit payable under the Social Welfare Acts excluding any increase that is payable on age grounds, or by virtue of the recipient living alone, or in respect of a qualified adult or child dependant. “Key Functions” has the meaning given to it in Rule 10. “Local Government Superannuation Code” means any scheme or regulations made under the Local Government (Superannuation) Act, 1980 (No 8 of 1980) other than the Local Government (Superannuation) (Gratuities) Regulations, 1984 (as amended) or the provisions of Part V of the Local Government (Superannuation) (Consolidation) Scheme, 1998. “Manual Workers’ Unit (Purchase) Scheme” means the scheme which applies to members of the ESB Manual Workers’ Superannuation Scheme who joined the Scheme before 12 December 1967 and did not elect to receive the benefits set out in clause 34, paragraph

(2)of the ESB Manual Workers’ Superannuation Scheme. “Members” means: (

a)Contributing Members; and (
b)persons, who, having been Contributing Members, are retained in the service of the Board under Rule 35; and (
c)persons who, having been Contributing Members and having quitted the service of the Board, have left their contributions in the Fund as provided in Rule 33.1; and (
d)all persons for the time being in receipt of pensions from the Fund; and (
e)any person who having become entitled to receive a pension from the Fund is for the time being re employed by the Board; and (
f)Defined Contribution Scheme Members. “Minister” means the Minister for Environment, Climate and Communications, or such other Minister from time to time with responsibility for the Electricity Supply Board, exercising the powers conferred on him by section 5 of the Electricity Supply Board (Superannuation) Act 1942 (No. 17 of 1942). “Minister for Public Expenditure, NDP Delivery and Reform” means the Minister for Public Expenditure, NDP Delivery and Reform or any successor Minister under legislation. “Net Pensionable Salary” means: (
a)for the purposes of calculating spouses’ and children’s pensions in respect of a Co-ordinated Member, the amount by which Pensionable Salary exceeds the rate of the State Pension (Contributory) payable from time to time to a person who has no adult dependant or qualified children, and (
b)for the purposes of all other Rules in respect of a Co-ordinated Member, the amount by which Pensionable Salary exceeds twice the rate of the State Pension (Contributory) payable as aforesaid. “Normal Retiring Date” in the case of a Member: (
i)who retired prior to 1 January 2014 (other than a Member who opted to retire early or who retired or was retired early on account of failure of health), means the date of the Member’s 65th birthday; (
ii)who resigned from the service of the Board before attaining age 60 under the Performance Improvement Project Severance Scheme 2012, means the date of the Member’s 65th birthday; (iii) who chooses to participate in the Voluntary Severance Scheme 2021, means the date of the Member’s 66th birthday; (
iv)who after the Operative Date, resigns from the service of the Board in accordance with the terms of any open Voluntary Severance Scheme other than the Voluntary Severance Scheme 2021, means the normal retiring date set out in any such scheme; (
v)who retires between 1 January 2014 and before 1 January 2024, means the date of Member’s 66th birthday; and (
vi)who retires on or after 1 January 2024 and whose date of birth was either before or after 1 January 1961, it means the applicable date of the Member’s birthday set out in the following table: Date of birth Scheme Normal Retiring Date before 1 January 1961 date of Member’s 67th birthday on or after 1 January 1961 date of Member’s 68th birthday . “Notional Service” means a notional period of service which is reckonable under Rule 32.2. “Notional Service Related Benefit” means a benefit calculated in the same manner as under Rule 51.3(
b)for the Reckonable Year in which the purchase is made under Rule 32.2(
f)multiplied by the Notional Service and if the Member contributes under Rule 32.2 for spouse’s, Civil Partners and children’s benefits, any corresponding benefit. “Operative Date” means the date specified by the Order confirming this Scheme. “Original Spouses’ and Children’s Pensions” means spouses’, Civil Partners’ and children’s provisions in respect of which Members become contributors under Rules 71.2(
a)or 71.2(b)(vi)(B). “Own-Risk Assessment” has the meaning given to it in Rule 8. “Part-Time Employee” means an employee of the Board who under the terms of his employment is not expected ordinarily to work Full-Time Hours, other than an employee who the Board notifies the Trustees to be working in a job-sharing capacity. “Part-Time Fraction” for a Part-Time Employee at any time means his Part-Time Hours at that time divided by his Full-Time Hours at that time. “Part-Time Hours” for a Part-Time Employee means the number of hours per week or other reference period which the Board from time to time declares that he is expected ordinarily to work. “Pensionable Salary” means: (
a)in relation to a Former Contributing Member, the annual rate of remuneration for the time being paid by the Board to such Former Contributing Member prior to leaving service excluding, unless otherwise determined by the Trustees with the consent of the Board in any particular case, (
i)any payment made by the Board to such Member over and above the annual rate of remuneration whether by way of Overtime, Walking Time, Bonuses, Commission, Subsistence Allowance and the like, and (
ii)the money equivalent of emoluments in kind, such as free housing, light, coal, heat, clothing and other like advantages or allowances, or of railway, tram or bus tickets, or passes provided for Former Contributing Members, or of motor cars and other vehicles supplied for the use of Former Contributing Members, and payments by the Board for, or towards, the housing, upkeep and running expense thereof, either wholly or in part, or otherwise. Provided that: (A) in the case of a Member who was Job Sharing or a Part-Time Employee, Pensionable Salary shall be deemed to be the pensionable salary applicable in his case if he were not Job Sharing or a Part-Time Employee, (B) except in the case of a death in service of a Member who was not a contributor for the Alternative Lump Sum at the time of death, the Pensionable Salary applicable in calculating the minimum lump sum on death in service for a Job Sharing or a Part-Time Employee shall be the Pensionable Salary multiplied by the Part-Time Fraction applicable to the Member at the time of death, (
b)in relation to a Contributing Member who is or was such on 1 January 2012: (
i)in respect of Reckonable Service up to and including 31 December 2011, the annual rate of remuneration paid by the Board to the Contributing Member at 31 December 2011, and (
ii)in respect of a Reckonable Year commencing on or after 1 January 2012, the annual rate of remuneration paid by the Board to the Contributing Member in that Reckonable Year, and (iii) in respect of the Alternative Lump Sum payable under Rule 67.3, the annual rate of remuneration designated by the Board as payable to the Contributing Member at the date of death, excluding under (
i)or (
ii)or (iii), unless otherwise determined by the Trustees with the consent of the Board in any particular case, (A) any payment made by the Board to such Member over and above the annual rate of remuneration whether by way of Overtime, Walking Time, Bonuses, Commission, Subsistence Allowance and the like, and (B) the money equivalent of emoluments in kind, such as free housing, light, coal, heat, clothing and other like advantages or allowances, or of railway, tram or bus tickets, or passes provided for Contributing Members, or of motor cars and other vehicles supplied for the use of Contributing Members, and payments by the Board for, or towards, the housing, upkeep and running expense thereof, either wholly or in part, or otherwise. Provided that: (A) in the case of a Member who is Job Sharing or a Part-Time Employee, Pensionable Salary shall be deemed to be the pensionable salary applicable in his case if he were not Job Sharing or a Part-Time Employee, (B) except in the case of a death in service of a Member who is not a contributor for the Alternative Lump Sum benefit at the time of death, the Pensionable Salary applicable in calculating the minimum lump sum on death in service for a Job Sharing or a Part-Time Employee shall be the Pensionable Salary multiplied by the Part-Time Fraction applicable to the Member at the time of death, (C) the Pensionable Salary for each Reckonable Year of Added Service for Ill-Health shall be the Pensionable Salary in the Reckonable Year in which the early retirement under Rule 51.1(
b)occurs, (D) the Pensionable Salary for Apprenticeship Service or Casual or Temporary Service shall be the Pensionable Salary at 31 December 2011, (E) the Pensionable Salary for Professional Added Years shall be the Pensionable Salary in the Reckonable Year in which the Contributing Member retires in accordance with Rule 51.1, (F) the Pensionable Salary for Subsequent Service under Rule 32.7 or Rule 32.8 shall be the Pensionable Salary at 31 December 2011, (G) the Pensionable Salary for the increase to the Member’s Reckonable Service under Rule 66.2(c)(
ii)shall be the Pensionable Salary at the date of resignation from the service of the Board under the Performance Improvement Project Severance Scheme 2012. (
c)in relation to a Defined Contribution Scheme Member, the annual rate of remuneration paid by the Board to the Defined Contribution Scheme Member at 31 December 2011, excluding unless otherwise determined by the Trustees with the consent of the Board in any particular case, (
i)any payment made by the Board prior to 1 January 2012 to such Member over and above the annual rate of remuneration whether by way of Overtime, Walking Time, Bonuses, Commission, Subsistence Allowance and the like, and (
ii)the money equivalent of emoluments in kind, such as free housing, light, coal, heat, clothing and other like advantages or allowances, or of railway, tram or bus tickets, or passes provided for Contributing Members, or of motor cars and other vehicles supplied for the use of Contributing Members, and payments by the Board for, or towards, the housing, upkeep and running expense thereof, either wholly or in part, or otherwise. Provided that: (A) in the case of a Member who is Job Sharing or a Part-Time Employee, Pensionable Salary shall be deemed to be the pensionable salary applicable in his case if he were not Job Sharing or a Part-Time Employee, (B) the Pensionable Salary for Apprenticeship Service or Casual or Temporary Service shall be the Pensionable Salary at 31 December 2011, (C) the Pensionable Salary for Subsequent Service under Rule 32.7 or Rule 32.8 shall be the Pensionable Salary at 31 December 2011. “Pensioner” means any Member who, being retired from the service of the Board, is in receipt of a pension from the Fund. “Pensions Act” means the Pensions Act, 1990 , including any enactment which amends or extends the Act and any regulation, warrant or order made thereunder. “Performance Improvement Project Severance Scheme 2012” means the voluntary severance scheme of that name approved by the ESB Board in 2012. “Principal Scheme” means the superannuation scheme made by the Electricity Supply Board (Confirmation of General Employees Superannuation Scheme) Order, 1943. “Professional Added Years” means additional years of service which are reckonable under Rule 32.4. “Reckonable Service” means service which is reckonable under Rules 29 to 35 in Part Five and Rule 66.2(c)(ii). “Reckonable Service Related Benefit” means a service credit granted under the Rules calculated for the Reckonable Year in which the Contributing Member retires, in the same manner as benefit is calculated under Rule 51.3(b). “Reckonable Year” means Reckonable Service after 31 December 2011 in a calendar year commencing on each 1 January and ending on the following 31 December provided that in respect of part of a Reckonable Year, it shall mean the number of completed days of Reckonable Service in that calendar year. “Regulations of the Minister” means the regulations made by the Minister pursuant to Section 8 of the Act. “Relevant Date” in relation to a Member electing to become a contributor for Spouses’, Civil Partners’ and Children’s Pensions under Rule 71 means: (
i)in the case of a Former Manual Member, 6 July 1980, (
ii)in the case of a male Member who is not a Former Manual Member and who makes his election before 1 January 1999, 1 April 1971, and (iii) in any other case, 4 November 1984. “Remuneration Policy” has the meaning given to it in Rule 10.8. “Revaluation” or “Revalued” means an increase under the Rules in a Revaluation Benefit by the Revaluation Percentage. “Revaluation Benefit” means a benefit calculated under the Rules. “Revaluation Percentage” means for any Reckonable Year the percentage change (if any) under the 2010 Pensions Agreement (or any later document or documents which alters or replaces that percentage in the 2010 Pensions Agreement) provided that if this results in a negative number there will be no change. “Revaluation Year” means a Reckonable Year: (
i)the first being the Reckonable Year commencing on 1 January 2012, and (
ii)the last being the Reckonable Year immediately preceding the Reckonable Year in which occurs the earlier of: (A) the date on which payment of the Revaluation Benefit begins, (B) the Contributing Member’s or Defined Contribution Scheme Member’s Normal Retiring Date, (C) the date of the Contributing Member’s or Defined Contribution Scheme Member’s death, or (D) the date of the Contributing Member or Defined Contribution Scheme Member ceasing to be in the service of the Board other than in the event set out in sub-paragraph (
ii)(A) to (C). “Revised Spouses’ and Children’s Pensions” means spouses’, Civil Partners’ and children’s provisions in respect of which Members become contributors under Rules 71.2(b)(i), 71.2(b)(ii), 71.2(b)(iv), 71.2(b)(
v)or 71.2(b)(vi). “Rule” means a rule set out in the Order which together with all other rules comprise the Scheme. “Scheme” means the amending superannuation scheme prepared by the Board and confirmed by the Minister pursuant to section 6 of the Act which superannuation scheme may be cited as The ESB Defined Benefit Pension Scheme. “Severance Service” means (
i)in respect of a Member who resigns under the Performance Improvement Project Severance Scheme 2012, those elements of service with the Board: (A) as determined and notified in writing by the then Executive Director, People and Sustainability to the Trustees and the Member prior to the Member’s resignation, (B) which are increased under Rule 66.2(c)(
ii)on payment of the contributions referred to under Rule 38.1(
f)and Rule 38.2(f), and (
ii)in respect of a Member who resigns under the Severance Scheme Programme 2021, service as determined in accordance with the terms of such scheme and notified in writing by the then Executive Director, People & Organisational Development or other duly authorised person to the Trustees and the Member prior to the Member’s resignation from the service of the Board. (iii) in respect of a Member who resigns under any future Voluntary Severance Scheme, service as determined in accordance with the terms of any such scheme and notified in writing by the then Executive Director, People & Organisational Development or other duly authorised person to the Trustees and the Member prior to the Member’s resignation from the service of the Board. “Social Welfare Acts” means the Social Welfare Acts 1981 to 2022 including any enactment which amends or extends any or all of those Acts and any regulation, warrant or order made thereunder. “Social Welfare Benefit” means Disability Benefit, Invalidity Pension, State Pension (Contributory) or Job Seeker’s Benefit or any precursor, replacement or substitution of any of the foregoing from time to time payable under the Social Welfare Acts. “State Pension (Contributory)” means the personal rate of contributory State pension payable under the Social Welfare Acts, excluding any increase that is payable on age grounds, or by virtue of the recipient living alone, or in respect of a qualified adult or child dependant or any precursor, replacement or substitution from time to time payable to an eligible person under the Social Welfare Acts. “Subsequent Service” means continuous service of a Member with the Board on and subsequent to the date he commences to pay contributions to the Fund up to: (
a)the last day preceding his Normal Retiring Date; or (
b)earlier date of retirement on account of failure of health; or (
c)the date of his death in service before retirement; or (
d)in the case of a Defined Contribution Scheme Member, 31 December 2011. “Surviving Spouse” means: (
a)for contributors for Original Spouses’ and Children’s Pensions, the widow or widower or surviving Civil Partner of a deceased Member whom he or she married or who was his or her Civil Partner before he or she: (
i)attained age 65 years or if applicable, the later date under paragraph (
a)of the definition of Normal Retiring Date; or (
ii)retired from the service of the Board whichever first occurred, and (
b)for contributors for Revised Spouses’ and Children’s Pensions, the widow or widower or surviving Civil Partner of a deceased Member whom he or she married or who was his or her Civil Partner either before or after retirement from the service of the Board. “Taxes Consolidation Act” means the Taxes Consolidation Act 1997 (No. 39 of 1997). “Trustees” means the Trustee or Trustees for the time being appointed for the purposes of the Scheme in accordance with Rule 3.2. “Voluntary Severance Schemes” means the Performance Improvement Project Severance Scheme 2012, the Voluntary Severance Scheme 2021 and/or any other arrangement determined to be a voluntary severance scheme approved by the Board with the consent of the Minister. “Voluntary Severance Scheme 2021” means the voluntary severance scheme known by that name approved by the ESB Board at its meeting held in June 2021. “5% Manual Workers’ Scheme” means the scheme which applies to members of the ESB Manual Workers’ Superannuation Scheme who elected to receive the benefits as set out in clause 34, paragraph

(2)of the ESB Manual Workers’ Superannuation Scheme or who joined the said scheme on or after 12 December 1967 as set out in clause 34, paragraph

(3)of the said scheme. “2005 Pension Pay and Change Agreement” means the pay pensions and change related agreement between ESB and the unions representing staff dated 14 December 2005. “2010 Pensions Agreement” means the pensions related agreement agreed upon between the ESB and the Group of Unions and accepted in 2010. 1.2 Construction In the Scheme and all amending schemes, unless the contrary intention appears: (

a)words importing the masculine gender shall also import the feminine gender and vice versa, (
b)words importing the singular shall also import the plural and vice versa, (
c)references to any legislation include references to any amendment or re-enactment of that legislation for the time being in force and references to any subordinate legislation made thereunder, (
d)reference by number to a Rule is to the Rule of the Scheme bearing that number, (
e)the headings to the Rules are for reference purpose only and shall not affect the meaning or construction of the Rules. 1.3 Transfer of Committee Powers and Duties to the Trustees With effect on and from the Operative Date: (
a)all powers, rights, discretions, privileges, duties of, and liabilities held or incurred by the Committee before this Order was made transfer hereby, without any further transfer or assignment, to the Trustees and the powers, rights, discretions, privileges, duties of, and liabilities held or incurred by the Committee shall be powers, rights, discretions, privileges, duties of, and liabilities held, or incurred by, the Trustees; and (
b)all references in the Scheme (including, for the avoidance of doubt, in the Principal Scheme and all subsequent schemes or arrangements amending the Principal Scheme) and in regulations made pursuant to the Act, to the Committee shall be construed as references to the Trustees. PART TWO - ADMINISTRATION 2. Title, Commencement and Operation 2.1 This Scheme may be cited as The ESB Defined Benefit Pension Scheme. 2.2 The Scheme is hereby amended in the manner indicated in the subsequent provisions of this Scheme so as to replace and supersede the Principal Scheme and all subsequent superannuation schemes or arrangements amending the Principal Scheme which together with the Principal Scheme are hereby revoked without prejudice to the validity of anything previously done thereunder including anything done that continues to have an impact on superannuation benefits in payment to or in respect of Members. 3. The Trustees 3.1 Administration of the Scheme and the Fund (
a)The Scheme, and, for the avoidance of doubt, the Fund shall be administered by the Trustees. (
b)The Trustees constitute the administrative, management and/or supervisory body of the Scheme having ultimate responsibility for compliance with the requirements of law and administrative provisions applicable to the Scheme. (
c)The Trustees are the administrator of the Scheme for the purposes of Part 30 of the Taxes Consolidation Act. 3.2 Appointment and Qualifications of Trustees (
a)The Board shall appoint persons to be Trustees from time to time and, subject to Rule 7.4, there shall be an equal number of persons nominated by the members and by the Board for appointment as Trustees. (
b)The Board shall be satisfied that, prior to the appointment of any person as a Trustee, he or, in the case of a corporate trustee, its directors, shall meet the following requirements: (
i)the requirement to be fit, meaning that his qualifications, knowledge and experience are, collectively with those of the other Trustees (or directors as the case may be), adequate to enable him to ensure the sound and prudent management of the Scheme; (
ii)the requirement to be proper, meaning that he is a person of good repute and integrity; and (iii) all other requirements relating to the qualifications of trustees set out in section 59(A) of the Pensions Act, AND at least one of the Trustees shall have not less than two years’ experience as a trustee of a scheme within the immediately preceding three years which experience is of a type that is adequate for him to ensure the sound and prudent management of the Scheme, AND if any question arises as to whether an appointee to the role of Trustee satisfies the requirements hereof, the Board may, and shall where so required by law, submit the matter to the Pensions Authority for determination. 3.3 Vesting of Assets in the Trustees All moneys from time to time forming part of the Fund, the investments representing the Fund, and the dividends, interest or other income of the Fund shall be vested in the Trustees who shall stand possessed thereof upon trust to dispose of them in accordance with the Act, the Scheme, and these Regulations. 3.4 A Trustee’s term of office shall be for a period of five years. 3.5 (
a)If at any time it appears to the Board that the removal of a Trustee from the board of Trustees is necessary in the interest of the proper and effective performance of the stewardship of the Scheme, the Board may remove from trusteeship any Trustee as it considers necessary in the interest of the aforesaid. (
b)The office of a Trustee shall be vacated if he: (
i)dies; (
ii)becomes incapable through failure of health of performing efficiently his duties as a Trustee and is so deemed by the Board; (iii) is absent from meetings of the Trustees for a period of six months (or such shorter or longer period as the Board in its absolute discretion shall determine); (
iv)is removed from office by the Board in accordance with Rule 3.5(a); (
v)is removed from office in accordance with section 59(A)

(8)or section 63

(1)of the Pensions Act; or (

vi)resigns. 3.6 When a Trustee resigns or is removed from office he shall forthwith do all acts and things necessary to vest the Fund in the joint names of the continuing and/or the new Trustee or Trustees. 3.7 Without prejudice to Rule 7.2, the Trustees shall have power to act notwithstanding any vacancy in their number and the acts and decisions of the Trustees shall not be rendered invalid by any vacancy or by any defect in the qualification or appointment of a Trustee. 3.8 If: (
a)at any time there are no Trustees, the Board may act as the Trustees pending the appointment of a new Trustee or Trustees; (
b)at any time there are no, or an insufficient number of, Trustees with the necessary level of qualification and the Board considers it prudent to do so to ensure continuing compliance with the requirements of the Pensions Act, the Board may appoint a corporate trustee to be a Trustee either as a sole corporate trustee or in conjunction with the other Trustees. 3.9 Any Trustee who is eligible for membership of the Scheme may be a Member and may retain for his own absolute benefit all moneys accruing to him as a Member and, subject to the terms of the Conflicts of Interest Policy, he may participate in any discussion in respect of, and vote on any resolution which affects or may affect, any benefit payable to him from the Scheme. 3.10 No decision of or exercise of a power by the Trustees shall be invalidated or questioned on the ground that the Trustees or, in the case of the Trustees or any of them being a body corporate, any director of such body corporate, or any individual Trustee or Trustees, had a direct or personal interest in the result of any such decision or in the exercise of any such power. 4. Board to Bear Expenses 4.1 The Board shall, to the extent necessary, at their expense, provide the office accommodation and the staff required for the administration of the Scheme. The costs and expenses of the working and management of the Scheme and the Fund, including: (
a)remuneration for any or all of the Trustees at such rate or rates as may be determined from time to time by the Board, and (
b)actuarial, legal, administrative and other fees, (
c)remuneration of any of the Key Function Holders or any other persons providing services to the Trustees who are in the service of the Board, will be borne and paid by the Board, and no deductions from the contributions of members or of the Board will be made for such expense, except that with effect from 1 October 1989 the Board may require the Fund to contribute towards the fees paid to fund managers and investment consultants or advisers (including legal advisers) engaged by the Trustees in connection with the management of the Fund. 4.2 Notwithstanding Rule 4.1, EirGrid shall contribute to the costs and expenses of the working and management of the Scheme and the Fund upon a basis to be agreed between EirGrid and the Board. 5. Appointment of Secretary and other officers The Board shall appoint: (
a)a Secretary from amongst the staff of the Board to be the Secretary to the Scheme (unless the Board determines that an external appointment is appropriate), and may appoint a person to act temporarily as the substitute for the Secretary, if so required, and (
b)save where appointments are otherwise provided for under the Rules, such other officers of the Trustees as may be required from time to time for the purposes of the Scheme, and it may remove and/or replace any Secretary or other officers so appointed. 6. Accounts and Records 6.1 The Trustees shall keep all accounts and records necessary for the purpose of the administration of the Scheme as committed to them. The accounts shall be made up to 31 December in each year (or to such other date in each year as the Trustees may agree with the Board). 6.2 EirGrid shall furnish to the Trustees all accounts, records and information (if any) reasonably required by them for the purpose of discharging their obligations under this Rule 6 and the other Rules of the Scheme. 7. Meeting of Trustees and Quorum 7.1 The Trustees shall meet together for the dispatch of business as often as may be necessary but in any event no less than bimonthly (i.e. once in two months) and, subject to the following regulations, may adjourn or otherwise regulate their meetings as they think fit. The Trustees may attend at meetings by telephone, internet or video conferencing or any other means by which each Trustee can listen to all other Trustees participating in the meeting and be heard by those Trustees and participation by such means shall constitute presence in person at such meeting. 7.2 Four of the Trustees plus the Chairperson present at a meeting shall form a quorum. A meeting of the Trustees at which a quorum is present shall be competent to exercise all or any of the authorities, powers and discretions vested in the Trustees generally. 7.3 Meetings of the Trustees shall be convened by the Secretary who shall, unless he considers that it is not practicable to do so, give not less than 48 hours’ clear notice of such meetings to each Trustee. 7.4 The Trustees shall nominate a person for appointment by the Board as the chairperson of the board of Trustees (“Chairperson”) and, if that nominee is not already a trustee, the Chairperson shall be appointed a Trustee and Chairperson. The Chairperson shall hold office until the earliest of his resignation as Chairperson, disqualification as a Trustee, the end of his term of office as a Trustee, or his death. If at any meeting of the Trustees the Chairperson is not present within five minutes after the time appointed for holding the meeting, the Trustees present may choose one of their number to be chairperson of that meeting. 7.5 The procedure and conduct of a meeting of the Trustees shall be determined by the Chairperson in consultation with the Secretary and a meeting of the Trustees at which a quorum is present shall be competent to exercise all or any of the authorities, powers and discretions vested in the Trustees generally. Questions arising at any meeting shall be decided by a majority of votes of those present, and in case of equality of votes the Chairperson shall have a second or casting vote. 7.6 A decision or resolution passed at such a meeting shall be binding on all the Trustees and all the Trustees shall be obliged to join in taking any action necessary or expedient to carry such a decision or a resolution into effect. 7.7 A Trustee shall not be precluded from voting on any matter by reason of the fact that he has a personal interest in the result of such vote provided that such Trustee had, prior to voting, disclosed any such interest to the other Trustees in a manner compliant with the terms of the Trustees’ Conflicts of Interest Policy. 7.8 A resolution in writing signed by a majority of the Trustees but of which due notice shall have been given to all of the Trustees individually shall be as effectual as if it had been passed at a meeting of the Trustees and may consist of one or more documents in similar form each signed by one or more of the Trustees. 7.9 The Trustees shall cause proper minutes to be kept of their proceedings and such minutes of any meeting of the Trustees purporting to be signed by the Chairperson of such meeting or by the Chairperson of the succeeding meeting shall be receivable as prima facie evidence of the matters and things recorded in such minutes. 7.10 Notices referred to in this Rule 7 may be given to the Trustees by email to the last secure email address provided by a Trustee to the Secretary for this purpose and a notice given by email shall be deemed received on the date of delivery if prepared and sent in accordance with this sub-Rule. To this end, a Trustee shall notify the Secretary of any change to his email address for the purposes of this Rule 7 and such notification shall be effective on the date specified in the notification as the date on which the change is to take place or, if no date is so specified, the date of receipt by the Secretary of the email. 8. Trustees’ Duties, Exercise of Trustee Functions and Trustees’ Powers 8.1 Trustees’ Duties Generally Without prejudice to the duties of Trustees generally and in addition to all other requirements of law, the Trustees shall: (
a)administer, manage and/or supervise the Scheme and are responsible for compliance with the requirements of law and administrative provisions applicable to, and of, the Scheme (for the avoidance of doubt, all powers rights discretions privileges duties of and liabilities held or incurred by the Committee before this Scheme was confirmed and came into operation, transferred, pursuant to Rule 1.3, with effect from the Operative Date, without any further transfer or assignment, to the Trustees); (
b)ensure, insofar as is reasonable, that the contributions payable in accordance with the Rules are received by them for the purposes of the Scheme; (
c)provide for the proper investment of the Fund in accordance with the Rules and applicable law; (
d)prepare and maintain a written statement of the investment policy principles applied to the resources of the Scheme in the form and manner that may be prescribed under the Pensions Act and shall review the statement at least every three years and revise it at any time following any change in investment policy which is inconsistent with it; (
e)make arrangements for the payment of benefits payable pursuant to the Rules as they become due; (
f)ensure that proper membership and financial records are kept; (
g)in accordance with section 26T of the Pensions Act, not later than 31 January of each year, prepare a statement, in the form required by the Pensions Authority, relating to the immediately preceding year (“Annual Compliance Statement”) which they shall certify and submit to the Pensions Authority not later than one month after that Annual Compliance Statement is prepared; (
h)in accordance with section 42 of the Pensions Act, submit to the Pensions Authority an actuarial funding certificate and a funding standard reserve certificate relating to the Scheme in accordance with the requirements of section 43 of the Pensions Act; (
i)ensure that the Scheme is registered with the Pensions Authority in accordance with the requirements of the Pensions Act and provide the Pensions Authority with such information as is required by it for registration; (
j)comply with all requirements imposed on Trustees relating to disclosure of information in respect of the Scheme as set out in Part V of the Pensions Act (and regulations made thereunder) to: (
i)Members and prospective Members, (
ii)the spouses or Civil Partners of Members and prospective Members, (iii) persons within the application of the Scheme and qualifying or prospectively qualifying for benefits thereunder, and (
iv)any trade union representing the Members to which a negotiation licence has been issued pursuant to Part II of the Trade Union Act 1941 (S.I. No. 22 of 1941) PROVIDED THAT the Trustees shall not be bound to furnish any of the information specified to any of the persons specified unless so requested by such persons; (
k)undertake Trustee training in accordance with section 59AA of the Pensions Act; (
l)if the Scheme is dissolved, apply the Fund in discharging the Scheme’s liabilities without undue delay in accordance with the requirements of the Pensions Act and otherwise in accordance with the requirements of the Rules; (
m)make arrangements for the resolution of disputes in relation to the Scheme in accordance with the requirements of the Financial Services and Pensions Ombudsman Act 2017 (No. 22 of 2017); and (
n)ensure that, in accordance with the requirements of the Pensions Act, there is, at all times, appointed by them one or more registered administrators for the purposes of: (
i)preparing on behalf of the Trustees in each year an annual report in accordance with Rule 8.2(e); (
ii)preparing on behalf of the Trustees in each year annual benefit statements for such Members as are required by law to receive annual benefit statements; (iii) keeping accurate and sufficient records of Members and of their benefits; and (
iv)discharging such other duties of registered administrators as are prescribed by law. 8.2 System of Governance (
a)System of Governance generally To the extent required by subsections 64AB

(1)to

(4)of the Pensions Act the Trustees shall, and otherwise may, put in place an effective system of governance, proportionate to the size, nature, scale and complexity of the Scheme, which shall provide for the sound and prudent management of Scheme activities and the system of governance shall be regularly reviewed by the Trustees. Such system of governance shall include: (

i)an adequate and transparent organisational structure with a clear allocation and appropriate segregation of responsibilities which shall: (A) set out the functions and activities required to manage the Scheme; and (B) specify the person who is responsible for performing each such function and carrying out any such activity, and (
ii)an effective system for ensuring the transmission of information. (
b)Written Policies relating to the System of Governance To the extent required by subsections 64AB

(5)to

(7)of the Pensions Act, the Trustees shall and otherwise may approve, establish, and apply written policies in relation to: (

i)risk management; (
ii)internal audit; and (iii) where required under the Pensions Act, actuarial and outsourced activities, and the Trustees shall review the policies at least once every three years and shall adapt any of them where there is, or has been, any significant change in the system or area with which any such policy is concerned, including any change provided by, or under, any enactment. (
c)Internal Control System To the extent required by subsections 64AB

(8)to

(10)of the Pensions Act, the Trustees shall, and otherwise may, put in place an effective internal control system which shall include: (

i)administrative procedures; (
ii)accounting procedures; (iii) an internal control framework; and (
iv)appropriate reporting arrangements at all levels of the Scheme. 8.3 Other Documents concerning Scheme Governance The Trustees, having regard to the size and internal organisation of the Scheme as well as to the size, nature, scale and complexity of its activities, adopt such policies and procedures as are necessary to ensure the proper governance of the Scheme which may include, or shall include where so required by the Pensions Act, the following: (
a)Own-Risk Assessment To the extent required by section 64AL of the Pensions Act, the Trustees, shall carry out and document an own-risk assessment of the Scheme (“Own-Risk Assessment”) in accordance with the requirements of that Act. (
b)Contingency Plan The Trustees shall take reasonable steps to ensure continuity and regularity in the performance of the Scheme of its activities, including the development of contingency plans and to do so the Trustees shall employ appropriate and proportionate systems, resources and procedures. (
c)Accounts, registers and records The Trustees shall keep all accounts, registers and records necessary for the proper working of the Scheme and shall cause the accounts to be audited by the Auditor in accordance with the requirements hereof and the Pensions Act. The Auditor shall be given access to all books, papers, vouchers, accounts, securities and documents either of title or otherwise connected with the Scheme and shall prepare a report on the audited accounts and shall certify in writing to the Board and the Trustees the results of each audit and the Trustees shall include a copy of the audited accounts relating to a Scheme Year in the Scheme’s annual report. Each of the Board and the Trustees shall provide to the Auditor such information as he may reasonably request for the purpose of performing his functions and duties hereunder. (
d)Fund valuation The Trustees shall direct the Actuary to value the Fund and the liabilities of the Scheme in accordance with the requirements hereof and the Pensions Act and to prepare a report on each valuation as soon as is reasonably practicable after its effective date. The Trustees shall provide to the Actuary such information as he may reasonably request for the purpose of performing his functions and duties. The Trustees shall submit an actuarial funding certificate and a funding standard reserve certificate, prepared by the Actuary, to the Pensions Authority at such intervals as may be required under the Pensions Act. In the event that the Trustees are required to submit a funding proposal to the Pensions Authority, the procedures set out in the Pensions Act, any related Pensions Authority guidance and any government circulars relating to pensions (where relevant) shall be applied by them and the Actuary. (
e)Annual Report The Trustees shall prepare or cause to be prepared not later than nine months after the end of each Scheme Year an annual report in respect of that Scheme Year containing the information required to be contained in such report by section 55 of the Pensions Act and the Occupational Pension Schemes (Disclosure of Information) Regulations. 8.4 Trustees’ Powers Generally The Trustees shall have and may exercise the following powers in addition to all other powers vested in them by these Rules or by statute: (
a)Power to delegate and authorise the sub-delegation of any of their trusts, duties, powers and discretions under the Rules in any manner as to them seems proper to any person or persons, including any one or more of the Trustees (including, if the Trustees are or include a body corporate, any of its officers or employees or the officers or employees of its affiliated companies). Any such delegation may be revoked by the unanimous decision of the Trustees (other than the person or persons to whom the delegation has been made if made to one or more of the Trustees). (
b)Power to make such arrangements generally for the administration of the Scheme as they may think fit and in particular to arrange for the staff provided by the Board under Rule 4 to transact or to concur in transacting any business of the Scheme on their behalf and generally to employ nominees and agents to transact any business of the Scheme including the receipt and payment of money and to pay remuneration, following prior consultation with, and having had due regard to the views of, the Board, to any such person or persons which remuneration shall be deemed to be part of the expenses incurred by the Trustees in connection with the Scheme. (
c)Power to appoint and dismiss any one or more companies, firms or individuals as investment managers, custodian or custodial agents of the Scheme or of a part or parts of the Fund on such terms of appointment as shall be agreed from time to time between the Trustees and the investment manager or investment managers following prior consultation with, and having had due regard to the views of, the Board and any investment manager or investment managers may be empowered by the Trustees to exercise or carry out all or any of the powers of investment of the Trustees and such of the other functions, powers, rights, privileges, duties, liabilities and discretions of the Trustees as the Trustees think expedient. (
d)Power in relation to the Rules to obtain, or to rely upon, the advice or opinion, whether or not obtained by them, of any lawyer, banker, broker, actuary, accountant, medical practitioner, Life Office or pension consultants of good repute or other professional person as the Trustees see fit and shall not be responsible for any loss occasioned thereby. The cost of the obtaining by the Trustees of any such advice or opinion shall form part of the expenses incurred by the Trustees in connection with the Scheme. (
e)Power, subject to the powers conferred by the Rules on the Board to decide all questions or matters of doubt arising under the Rules and every such decision, whether made upon a question actually raised or implied in the acts or proceedings of the Trustees shall so far as the law permits be conclusive and neither any persons, including any body corporate, being, or having formerly been, a member of the Committee, a Trustee, the Board shall be liable for, or for the consequences of, any act done or omitted to be done or any payment made or omitted to be made in pursuance or purported pursuance of any such decision as aforesaid notwithstanding that such decision shall subsequently be held to have been wrongly made. (
f)Power, subject to it not prejudicing the Revenue Commissioners’ approval of the Scheme, to appoint the Board or any Life Office with which any contracts or policies have been effected in accordance with the investment provisions hereof as their agent for the purpose of paying any pension or pensions which arise under the Scheme and the payment of such pension or pensions by the Board or Life Office to the person or persons entitled to receive the same under the Scheme shall be a complete discharge to the Trustees for the payment thereof. (
g)Power, in addition and without prejudice to all powers conferred upon the Trustees by these Rules and by law, to settle, compromise or submit to arbitration any claims, matters, disputes or differences arising out of the Scheme or otherwise in connection with the Scheme and which have not been disposed of pursuant to the provisions of Rule 8.4(
d)and to commence, carry on or defend proceedings relating in any way to the Scheme or relating to any rights of the Members or others therein. (
h)All such powers, rights, discretions and privileges, including the giving of undertakings, as they may from time to time require: (
i)to comply with the duties imposed upon them by, or in connection with, the Rules and the Pensions Act; and (
ii)to comply with the applicable provisions of Part 30, Chapter 1 of the Taxes Consolidation Act and the requirements of the Revenue Commissioners from time to time so as not to prejudice the Scheme’s exempt approved status pursuant to that act. 9. Trustees’ Covenants 9.1 The Trustees jointly and severally covenant with the Board: (
a)to administer the Scheme; (
b)to comply with the Rules; (
c)not (except with the consent of the Board or as required by law) to disclose to any Member or other person any matter relating to the business and affairs of: (
i)the Board; (
ii)the Scheme; or (iii) any Member or other beneficiary of the Scheme of which the Trustees become aware by reason of their position as Trustees; (
d)not (except with the consent of the Member or other beneficiary of the Scheme or as required by law) to disclose to any person any matter relating to the business and affairs of the Member or other beneficiary of the Scheme other than matters which the Trustees deem necessary for the proper administration of the Scheme; and (
e)that when a Trustee resigns or is removed from office he shall immediately do all acts necessary to vest the property and investments of the Fund in the joint names of the continuing Trustees and any new Trustee or Trustees; and any Trustee who becomes a Trustee after the Operative Date shall, in consenting to act as a Trustee, be deemed to have made the above covenants with the Board with effect from the date of becoming a Trustee. 10. Key Functions, the appointment and remuneration of service providers and outsourcing 10.1 To the extent required by the Pensions Act, the Trustees shall, and otherwise may, put in place the following key functions (“Key Functions”): (
a)a risk management function in accordance with Rule 10.2; and (
b)an internal audit function in accordance with Rule 10.3, and: (
i)the internal audit function shall be independent of the risk management function and shall be carried out by a person who does not carry out the risk management function; and (
ii)a person carrying out a Key Function for the Scheme shall not carry out the same Key Function for the Board unless, taking into account the size, nature, scale and complexity of the activities of the Scheme, the Trustees allow the same person or persons to do so where they have a written protocol explaining satisfactorily how any conflicts of interest between the Scheme and the Board are to be prevented or managed. A person or persons who carries out a Key Function shall report any material findings and recommendations in respect of the Key Function concerned to the Trustees whereupon the Trustees shall determine what action is to be taken. The Trustees shall enable the holders of Key Functions to undertake their duties effectively in an objective, fair and independent manner. 10.2 Risk Management Function (
a)To the extent required by section 64AI of the Pensions Act and Rule 10.1, the Trustees shall, and otherwise may, establish and maintain a risk management function: (
i)proportionate to the size of the Scheme and to the size, nature, scale and complexity of the activities of the Scheme; and (
ii)structured so as to facilitate the functioning of a risk management system for which the Trustees shall adopt strategies, processes and reporting procedures necessary to ensure that the risks to which the Scheme is or could be exposed can be identified, measured, monitored, managed and be regularly reported on to the Trustees so that the risk management system is effective and well integrated into the organisational structure and the decision-making processes of the Scheme. (
b)To the extent required by the Pensions Act, the Trustees shall, and otherwise may, appoint a risk manager who shall be a person: (
i)whose professional qualifications, knowledge and experience are adequate to carry out properly the risk management functions of an occupational pension scheme, (
ii)of good repute and integrity for the purposes of maintaining the risk management function and otherwise as may be prescribed by the Pensions Act. 10.3 Internal Audit Function (
a)To the extent required by the Pensions Act and in accordance with section 64AJ of the Pensions Act and Rule 18.1, the Trustees shall, and otherwise may, establish and maintain an effective internal audit function which shall include an evaluation of the adequacy and effectiveness of the internal control system and other elements of the systems of governance including, where relevant, outsourced activities. (
b)To the extent required under the Pensions Act, the Trustees shall appoint a person or persons to effect an internal audit function: (
i)whose professional qualifications, knowledge and experience are adequate to carry out properly the internal audit of an occupational pension scheme; and (
ii)of good repute and integrity. 10.4 Actuary The Trustees shall in consultation with the Board appoint the Actuary who shall be a person: (
a)whose professional qualifications, knowledge and experience are adequate to carry out properly the actuarial functions of an occupational pension scheme for the purposes of the Pensions Act; and (
b)of good repute and integrity for the purposes of complying with the Rules, the Pensions Act including the Occupational Pension Schemes (Disclosure of Information) Regulations, and prescribed professional standards. 10.5 External Auditor The Trustees, in consultation with and having due regard to the views of the Board, shall appoint an external Auditor, who shall be a person: (
a)whose professional qualifications, knowledge and experience are adequate to carry out properly the functions of auditor of an occupational pension scheme; (
b)who is not disqualified from being an auditor pursuant to sub-Article

(6)of Regulation 5 of the Occupational Pension Schemes (Disclosure of Information) Regulations; and (

c)of good repute and integrity for the purposes prescribed by the Pensions Act including compliance with the requirements of the Occupational Pension Schemes (Disclosure of Information) Regulations. 10.6 Registered Administrator The Trustees shall appoint one or more Registered Administrators, each of which shall be a body: (
a)registered as such with the Pensions Authority in accordance with the requirements set out in Part VIA of the Pensions Act; (
b)employing, for this purpose, persons whose professional qualifications, knowledge and experience are adequate to carry out properly the functions of the registered administrator of an occupational pension scheme; and (
c)of good repute and integrity for the purposes set out in section 64G of the Pensions Act, and otherwise as may be prescribed by the Pensions Act and agreed with the Trustees. 10.7 Appointment of administrator The Trustees, in consultation with and having due regard to the views of the Board, shall appoint an administrator to the Scheme (other than the administrator within the meaning of the Taxes Consolidation Act), which shall be a body employing for this purpose persons whose professional qualifications, knowledge and experience are adequate to carry out properly the functions of the administrator of an occupational pension scheme. 10.8 Remuneration Policy (
a)To the extent required by the Pensions Act and in accordance with the requirements of section 64AG of the Pensions Act, the Trustees shall and otherwise may establish and apply a remuneration policy in respect of: (
i)the Trustees; (
ii)persons who carry out Key Functions under Rule 10.1; (iii) other categories of staff employed by the Trustees whose professional activities have a material impact on the risk profile of the Scheme; and (
iv)a service provider referred to in Rule 10.1 to whom a key function, or other activity referred to therein, is outsourced (unless such service provider is covered by the Directives specified in Section 64AG

(4)(

e)of the Pensions Act) (the “Remuneration Policy”) which shall be proportionate to the size and internal organisation of the Scheme and the size, nature, scale and complexity of the activities of the Scheme and the Remuneration Policy shall provide for clear, transparent and effective governance with regard to remuneration, include measures aimed at avoiding conflicts of interest and shall support the Scheme’s sound, prudent and effective management. (
b)The Remuneration Policy shall provide that the Trustees shall review and update the Remuneration Policy at least once every three years. (
c)Without prejudice to section 54

(1)(

b)of the Pension Act, unless otherwise provided under applicable law relating to data protection including the General Data Protection Regulation (Regulation (EU) 2016/679) and the Data Protection Act 2018 (No. 7 of 2018) the Trustees shall disclose relevant information regarding their Remuneration Policy. 10.9 Outsourcing of Key Functions and other services To the extent required by section 64AM of the Pensions Act, the Trustees shall and otherwise may enter into a written arrangement to outsource any activity, including: (
a)a Key Function, and (
b)the management of the Scheme, whether in whole or in part, to a person or body who shall employ for this purpose persons whose professional qualifications, knowledge and experience are adequate to carry out properly the functions on behalf of the Scheme in respect of such activity PROVIDED THAT: (
i)the Trustees shall satisfy themselves that the arrangement entered into by them shall not be undertaken in a manner that would lead to any of the following: (A) impairing the quality of the Scheme’s system of governance; (B) unduly increasing the operational risk to the Scheme; (C) impairing the ability of the Pensions Authority to monitor the compliance of the Scheme with its obligations under the Pensions Act; and (D) undermining the continuous and satisfactory service to Members and beneficiaries of the Scheme, (
ii)where an arrangement concerns the outsourcing of a Key Function under Rule 18.1, the Trustees shall notify the Pensions Authority before the agreement in respect of that arrangement enters into force; and (iii) where an arrangement is one other than an arrangement which concerns the outsourcing of a Key Function under Rule 18.1, the Trustees shall notify the Pensions Authority of the making of the arrangement not later than 4 weeks from the making of that arrangement. and the Trustees shall, as soon as practicable, notify the Pensions Authority of any subsequent important developments with respect to any outsourced activities. Provided that the Trustees shall, notwithstanding entry into any such arrangement, be responsible for compliance with their obligations under the Pensions Act in respect of any Key Function or any other outsourced activity within the meaning of the sections referred to in this Rule. 11. Responsibility of Trustees for Acts, Defaults, Etc. 11.1 The Fund The Trustees shall be chargeable only for such moneys as they shall actually receive and shall be answerable and responsible only for their own acts, receipts, omissions, neglects and defaults and not for those of any other person (other than persons to whom they delegate their functions) with whom or into whose hands any moneys of the Fund shall be deposited or come. 11.2 The Scheme The Trustees shall be responsible for the administration, management and/supervision of the Scheme, compliance with the requirements of law and administrative provisions applicable to, and of, the Scheme and shall be answerable and responsible only for their own acts, omissions, neglects and defaults and not for those of any other person (other than persons to whom they delegate their functions in accordance with the terms hereof). 12. Negligence or Breach of Trust 12.1 A Trustee shall not be held liable for any loss occasioned by negligence or breach of trust in any case in which in the opinion of the Board such Trustee has acted honestly and reasonably and ought fairly to be excused. 12.2 The Board shall keep each Trustee indemnified against any actions, claims and demands arising out of anything lawfully done or caused to be done by him in the exercise of the powers and discretions vested in him by the Scheme. 13. Ascertainment of Members’ Views 13.1 The Trustees may ascertain the views and wishes of the Members in such manner as they think fit. 13.2 Without fettering the discretion of the Trustees the views and wishes of the Members may be ascertained by a show of hands at a general meeting of Members summoned by the Trustees or at meetings held in the location in which such Members are employed or by means of ballot papers circulated among the Members or by such other method as in their discretion the Trustees may decide. 13.3 The Trustees shall summon a general meeting of Members, if required so to do by a requisition signed by not less than one third of the persons who are for the time being Members of the Scheme, and stating the business to be transacted at the meeting. The meeting shall be summoned within two months of the date on which the requisition is received by the Trustees and not less than seven days’ notice (exclusive of the day on which the notice is served or deemed to be served, but inclusive of the day for which notice is given) specifying the place and time of the meeting, and the business to be transacted, shall be given to each Member in the manner prescribed in Rule 14. 13.4 A certificate signed on behalf of the Trustees as to what has been ascertained to be the views and wishes of a majority of the Members shall be conclusive. 14. Sending of Notice to Members Every Member shall furnish the Secretary with his private postal address and his personal email address and give notice from time to time of any changes thereto. Any notice to any Members may be given in such manner as the Trustees may determine, and may be given by sending it: (
a)through the post, in a letter addressed to him at such address, or at his place of employment; and/or (
b)by email, addressed to his personal email address, or in the event that he is an active Member, his ESB work email address, and any notice so sent shall be deemed to be served on the day following that on which it was posted or the date on which it was sent if sent by email. 15. Application of Family Law These Rules are subject to the Family Law Acts and benefits payable hereunder shall be modified to the extent necessary to comply with the Family Law Acts, including any pension adjustment orders made pursuant to those acts. 16. Power of Board to Terminate Employment Nothing in this Scheme shall in any way restrict the right of the Board to terminate the employment of any employee. 17. Alteration of Scheme The provisions of the Scheme may be altered or modified only in the manner prescribed in Section 6 of the Act or in the manner prescribed in the EirGrid Regulations. PART THREE - THE FUND 18. Constitution of Fund 18.1 The Fund is constituted under the Regulations of the Minister. 18.2 The Fund shall be called “The ESB Pension Fund”. 18.3 The Fund shall consist of: (
a)the contributions of Members; (
b)the contributions of the Board; (
c)interest, dividends or other income receivable from the investments and from property of all kinds of the Fund; (
d)any sums paid to the Trustees by the Minister for Public Expenditure, NDP Delivery and Reform or by an Approved Organisation in respect of persons admitted to the Scheme under Rule 24.3 in accordance with arrangements agreed from time to time between the said Minister and the Board, or between Approved Organisations and the Board, as the case may be; (
e)any other sums which may be paid to the Trustees from time to time for the purpose of the Scheme; and (
f)contributions arising under the EirGrid Scheme and paid into the Fund in accordance with Regulation 17 of the EirGrid Regulations. 19. Payments of Benefits and Repayments of Contributions 19.1 There shall be paid out of the Fund all superannuation benefits payable under the Scheme and all repayments of accumulated contributions standing to the credit of a Member in the Fund in accordance with the Rules. 20. Apportionment of the Fund into Accounts 20.1 To the extent necessary, for the purpose of giving effect to the EirGrid Regulations, the Trustees will apportion the Fund into two or more accounts, each of which: (
a)shall consist of a specified share of the assets of the Fund, and (
b)shall be appropriated to specified liabilities arising under the Scheme or the EirGrid Scheme. 20.2 For so long as the Trustees have apportioned the Fund into two or more Accounts: (
a)in respect of every contribution or other payment into the Fund arising under this Scheme or under the EirGrid Scheme, they shall specify to which Account it is to be credited, and it shall be credited to that Account and no other; (
b)unless otherwise agreed between the Trustees and the Actuary, the investment return earned on the Fund, and any contribution towards costs paid by the Fund in accordance with Rule 4.1, shall be attributed to each of the Accounts on a proportionate basis in a manner which ensures that, at the end of each accounting period, the market value of the Fund shall equal the aggregate market value of all the Accounts; and (
c)in respect of every pension, benefit or other payment out of the Fund arising under this Scheme or under the EirGrid Scheme, they shall specify from which Account it is to be discharged and it shall be discharged from that Account in priority to any other Account. 20.3 The Trustees may from time to time vary the assets and liabilities allocated to any Account, and may provide for any sum to be debited to one Account and credited to another. 20.4 In exercising their powers under this Rule 20, the Trustees shall act upon the advice of the Actuary, and shall have regard to any agreement made between the Board and EirGrid for the purposes of giving effect to the EirGrid Regulations. 21. Claims on Fund and Payments and Receipts 21.1 No person, whether as a Member or otherwise, shall have any claim, right or interest upon, to, or in respect of the Fund, or any contributions thereto, or any interest therein, or any claim upon or against, the EirGrid Committee, the Trustees (including the Committee), the Board or EirGrid, except: (
a)under and in accordance with the provisions of the Scheme, or (
b)under and in accordance with the provisions of the EirGrid Scheme and Regulation 17 of the EirGrid Regulations. 21.2 The Trustees shall authorise all payments due to pensioners and other beneficiaries out of the Fund in respect of pensions and other benefits provided by this Scheme. 21.3 All contributions payable by Members or by the Board or by Eirgrid shall be paid to the Trustees. The Trustees shall see to the correctness and due collection of all contributions to the Fund and they shall keep a proper record thereof. All moneys received by them shall be lodged by them with due dispatch and in any event within seven days from the time of receipt to a bank account to be kept by the Trustees for that purpose. 22. Triennial Actuarial Investigations 22.1 Periodic Valuations The position of the Fund and of each Account shall be submitted to the Actuary and investigated at such times as the Trustees or the Board, may consider desirable, but at least every three years (or such other period as may be prescribed by the Pensions Act from time to time) and for that purpose all necessary accounts and information shall be furnished by the Board and the Trustees (and to the extent necessary, Eirgrid and the Eirgrid Committee) to the Actuary. 22.2 Actuarial Report The Actuary shall report to the Trustees and the Board, in writing, on the financial position of the Fund and, for so long as the Trustees have apportioned the Fund into two or more Accounts, of each Account. 22.3 Surplus (
a)All surpluses identified by the Actuary may, at the option of the Trustees with the consent of the Board on the written advice of the Actuary, either: (
i)be set aside to a reserve, or (
ii)be employed either in granting such reductions in the contributions of Contributing Members and the Board or such increases in the benefits, or in providing such additional benefits, as may be incorporated in an amending superannuation scheme to be submitted to the Minister in accordance with section 6 of the Act, Provided that the options under this Rule 22.3 shall not be capable of being exercisable until such time as the Trustees think proper having regard inter alia to the Electricity Supply Board (General Employees Superannuation Fund) Regulations, 1943 ( S.I. No. 218 of 1943 ) and section 59AB of the Pensions Act and the Occupational Pension Schemes (Investment) Regulations 2021 (S.I. No. 636/2021). (
b)Any surplus shown by any report of the Actuary having an effective date of less than three years after the effective date of the preceding report (the “first report”) shall be allowed to accumulate until after the preparation of a further report having an effective date at least three years after the effective date of the first report. 22.4 Deficiency In the event of the Actuary reporting that there is or is likely to be a deficiency, the Trustees shall consult with the Board and the Actuary, and the Board shall have regard to the necessity or desirability of preparing and submitting for approval by the Minister an appropriate amending scheme. 22.5 Actuarial Statement in Annual Report Each year, in accordance with the requirements of the Pensions Act, the Actuary shall prepare a statement for inclusion in the Scheme’s annual report prepared by the Trustees under Rule 8.3(e), in such form as may be prescribed, as to whether he is reasonably satisfied that if were to prepare an actuarial funding certificate and a funding standard reserve certificate for the Fund having an effective date of the last day of the period to which the annual report relates, he would certify: (
a)in the case of the actuarial funding certificate, that the Fund satisfies the funding standard provided for in section 44

(1)of the Pensions Act; and (b) in the case of the funding standard reserve certificate, that the Fund satisfies the funding standard reserve provided for in section 44

(2)of the Pensions Act and if he cannot so certify in either case, he shall take such actions as are prescribed by the Pensions Act. PART FOUR - MEMBERSHIP 23. Membership 23.1 Persons who, having been admitted to membership of the Scheme in accordance with the Rules as in force from time to time prior to 1 January 2011, shall continue to be Members on the terms set out in the Rules. 23.2 Persons who were appointed or reappointed to be General Employees prior to 1 January 2011 and whose contract of employment set out they were eligible for membership of the Scheme were eligible to be admitted to the Scheme prior to 1 January 2011. 23.3 Persons transferring to the service of the Board on or after 1 January 2011 are not eligible for membership of this Scheme. 23.4 Persons who were Contributing Members of this Scheme on 30 June 2006 and who transferred to EirGrid on 1 July 2006 did not retain membership of this Scheme. 24. Admission to Membership 24.1 No person: (

a)who on or after 1 January 2011 was: (
i)appointed to pensionable service with the Board or Eirgrid for the first time; or (
ii)was subsequently re employed by either of them may be admitted to membership of the Scheme; (
b)who was employed in a pensionable capacity in the Civil Service or in an Approved Organisation and transfers to, or is appointed to, the Board’s or Eirgrid’s service with effect on or after 1 January 2011, may be admitted to membership of the Scheme; and (
c)who was pensionable under the Local Government Superannuation Code and enters service with the Board or Eirgrid with effect on or after 1 January 2011 may be admitted to membership of the Scheme; and (
d)may be admitted to membership of the Scheme on or after 1 January 2011. 25. Chief Executive of ESB 25.1 Any person who is appointed to the position of Chief Executive of ESB after 15 July 2002 who is a Contributing Member: (
a)as at 1 January 2011, and (
b)immediately prior to being appointed to the position of Chief Executive of ESB, will have the terms of their membership and benefits applied in accordance with Part Twelve of these Rules. 25.2 Any person who is appointed to the position of Chief Executive of ESB after 1 January 2011 who is not a Contributing Member: (
a)as at 1 January 2011, and (
b)immediately prior to being appointed to the position of Chief Executive of ESB, will not be admitted to membership of the Scheme. 26. Obligations Consequent upon Admission to Membership 26.1 Every General Employee who has been admitted to membership of the Scheme shall: (
a)pay contributions to the Fund in accordance with the Scheme, and (
b)if and whenever required by the Trustees, furnish to the Secretary in writing in the form prescribed by the Trustees: (
i)any information or evidence necessary to establish his continued entitlement to membership of the Scheme, (
ii)any information or evidence required for the administration of the Scheme in respect of him, and (iii) any necessary authority for the deduction of contributions from pay, or any other authority which may be necessary for the administration of the Scheme in respect of him. 26.2 If any information, authority or evidence required under this Rule 26 is not furnished, or if any information or evidence proves to be inaccurate, the Trustees may; (
a)cancel the membership of the person concerned with retrospective effect to the date of admission; or (
b)confirm the membership of the person concerned with retrospective effect to the date of admission but, with the advice of the Actuary where actuarial calculations are required, alter the amount of or the terms applicable to, or withhold or cease payment of, any benefit payable under the Scheme as respects the person concerned. 27. Trustees to Determine All Questions 27.1 Save as otherwise provided herein or as otherwise required by law, all questions as to: (
a)whether an employee of the Board was or was not entitled to join the Scheme having regard to Rule 23.2, or (
b)the salary of a Member for the purposes of the Scheme or the rate of contributions payable by a Member, or (
c)whether a Member is entitled to any, and if any, to what payment out of the Fund shall, in the event of a dispute, be determined by the Trustees whose decision shall be final. 28. Withdrawal From Scheme 28.1 A Contributing Member may not withdraw from his contributory membership of the Scheme while he remains in the employ of the Board unless he becomes a Defined Contribution Scheme Member. PART FIVE – SERVICE 29. Reckonable Service 29.1 Entitlement to reckon service Every Contributing Member or Defined Contribution Scheme Member, or Former Contributing Member or Contributing Member who left service prior to his Normal Retiring Date (other than a Former Contributing Member) shall (save as otherwise provided in these Rules) be entitled to reckon service for the purposes of the Scheme from the date of commencement of payment of contributions up to the end of the last day of his pensionable service with the Board preceding : (
a)Normal retirement Date; or (
b)earlier retirement date in the case of failure of health or pursuant to Rule 48; or (
c)date of death in service before Normal Retirement Date; or (
d)date of resignation; or (
e)in the case of a Defined Contribution Scheme Member, 1 January 2012, according to the following Rules in this Part Five and provided that, where applicable, contributions relating to such Reckonable Service are made by or in respect of any such Member according to the Rules set out in Part Six. 29.2 Calculation of Reckonable Service Reckonable Service shall be calculated: (
a)by counting the number of completed years and days in every period of service which is reckonable under Rules 30 to 35; (
b)in respect of any period of service during which the Member concerned is or was at any time a Part-Time Employee, by multiplying the number of completed years and days by his Part-Time Fraction from time to time during that period and rounding the result to the nearest whole day, and by aggregating the numbers of years and days so calculated for all such periods of service. 29.3 Apprenticeship Service, Casual or Temporary Service and certain service before 1 October 1981 (
a)For a person who retired before 1 October 1981, any period of: (
i)Apprenticeship Service served with the Board; (
ii)Casual or Temporary Service with the Board; or (iii) any other period of service with the Board prior to 1 October 1981 when they were not a Member of the Scheme, may be reckonable only for the purposes of calculating his pension benefit. (
b)For a person who retires on or after 1 October 1981, any period of: (
i)Apprenticeship Service served with the Board; (
ii)Casual or Temporary Service with the Board; or (iii) any other period of service with the Board on or after 1 October 1981 when they were not a Member of the Scheme, shall be reckonable for all benefits and such service shall be treated as Reckonable Service given prior to 1 January 2012. 29.4 Ill Health Service (
a)For a person who retired on the grounds of ill-health before 1 April 1976, Added Service for Ill-Health shall be reckonable only in calculating his pension benefit. (
b)For a person who retires on the grounds of ill-health on or after 1 April 1976, Added Service for Ill-Health shall be reckonable in accordance with the provisions of Rule 32.5. 30. Reckonable Service for Persons in Service on 1 October 1981 30.1 A person who was in the service of the Board on 1 October 1981 may elect, at any time prior to his retirement, to reckon the aggregate of: (
a)Subsequent Service; and (
b)any period of Casual or Temporary Service, and such Casual or Temporary Service shall be treated as Reckonable Service given prior to 1 January 2012. No contributions shall be payable by the Member in respect of such Casual or Temporary Service. 30.2 A person who: (
a)was in the service of the Board on 1 October 1981; and (
b)was a former member of the 5% Manual Workers’ Scheme; and (
c)suffered a loss of service because he had not been contributing for the maximum benefits available to him in the Manual Workers’ Unit (Purchase) Scheme may elect, at any prior to his retirement, to contribute for all or part of that loss of service, in which event, subject to the payment of the requisite contributions in accordance with the provisions of Rule 38.9, he may reckon that service and such service shall be treated as Reckonable Service given prior to 1 January 2012. 31. Reckonable Service for Persons entering Service after 1 October 1981 31.1 A person who enters the service of the Board after 1 October 1981 may elect to reckon the aggregate of: (
a)his Subsequent Service; and (
b)any period of Casual or Temporary Service given before 1 October 1981 and such Casual or Temporary Service shall be treated as Reckonable Service given prior to 1 January 2012. No contributions shall be payable by the Member in respect of such Casual or Temporary Service. 31.2 A person who: (
a)enters in the service of the Board after 1 October 1981; and (
b)has Casual or Temporary Service after 1 October 1981 may elect at any time up to retirement to contribute for all or part of such Casual or Temporary Service, in which event, subject to the payment of the requisite contributions in accordance with the provisions of Rule 38.10, he may reckon that Casual or Temporary Service and such service shall be treated as Reckonable Service given prior to 1 January 2012. 32. Additional Reckonable Service 32.1 Apprenticeship Service A Member who served his apprenticeship with the Board may elect at any time up to retirement to contribute for all or part of such apprenticeship service, excluding service given when the Member was under 16 years of age, in which event, subject to the payment of the requisite contributions in accordance with the provisions of Rule 38.8, he may reckon that Apprenticeship Service as Reckonable Service given prior to 1 January 2012. 32.2 Notional Service A Member may elect to contribute for a notional period of service or Notional Service Related Benefit, if his potential total service with the Board at retirement is less than 40 years in which case: (
a)Subject to the payment of the requisite contributions in accordance with Rule 38.6, he may reckon that notional period. (
b)In the event of benefits being paid earlier than the anticipated date of payment as specified by the Member at the commencement of purchase of said Notional Service or Notional Service Related Benefit, the period of Notional Service or Notional Service Related Benefit (as the case may
be)purchased by the Member will be subject to an actuarial reduction factor, as advised by the Actuary. (
c)With the consent of the Trustees, the Member may elect to contribute for Notional Service and/or Notional Service Related Benefit in respect of both his own retirement benefits and spouses’ or Civil Partners’ and children’s benefits. (
d)The aggregate of all notional periods of service reckoned under this Rule in respect of any benefit shall not be such as would cause aggregate Reckonable Service in respect of any benefit under the Scheme to exceed 40 years. (
e)If a Contributing Member made an election under this Rule 32.2 prior to 1 January 2012, the Contributing Member may continue to contribute after 31 December 2011 for Notional Service at the rate applying at 31 December 2011, and the Notional Service will be treated as Reckonable Service given prior to 1 January 2012. (
f)If a Contributing Member makes an election under this Rule 32.2 on or after 1 January 2012, the Notional Service Related Benefit will be allocated to the Reckonable Year in which the Notional Service Related Benefit is purchased whether it is paid in one or more instalments. 32.3 Notional Service on Transfer in Where any Member is entitled to benefit: (
a)under another retirement benefits scheme (other than a scheme referred to in Rules 32.7 or 32.8), or (
b)under a contract with a life office approved by the Revenue Commissioners for the purpose of issuing transfer payments to retirement benefits schemes, or (
c)under a personal retirement savings account, the Trustees may, subject to compliance with any requirements of the Revenue Commissioners, arrange for any transfer of assets offered in respect of that Member from the other scheme or the life office or the provider of the personal retirement savings account (as the case may
be)to be accepted and to be paid into the Fund. Where such a transfer is effected, the Member may also reckon Notional Service or a Notional Service Related Benefit (as the case may
be)to be determined by the Trustees on the advice of the Actuary, having regard to the value of the assets received into the Fund and the date of receipt. The Notional Service shall not be such as would cause aggregate Reckonable Service to exceed 40 years. And for the purpose of the foregoing sub-Rule 32.3: (
i)if the transfer of assets into the Fund occurs prior to 1 January 2012, the notional period of service will be treated as Reckonable Service prior to 1 January 2012; (
ii)if the transfer of assets into the Fund occurs on or after 1 January 2012, the Notional Service Related Benefit will be allocated to the Reckonable Year in which the transfer of assets is received into the Fund. 32.4 Professional Added Years (
a)Where, on the recruitment of any Member to the service of the Board on or after 1 January 1988: (
i)minimum professional, technical or specialist qualifications and/or minimum number of years’ essential experience were required; or (
ii)the minimum entry age specified was over 25, and by reason of such entry requirements it was not possible for the Member to have 40 years’ Reckonable Service by age 65 or if applicable, the later date under paragraph (
a)of the definition of Normal Retiring Date, subject to the proviso to this Rule 32.4, the Board may grant to that Member Professional Added Years. (
b)Such Professional Added Years may be: (
i)in the case of a Former Contributing Member who was a Contributing Member immediately prior to becoming a Pensioner, reckoned as Reckonable Service; (
ii)in the case of any other Contributing Member, treated as Reckonable Service Related Benefit in the Reckonable Year in which a Contributing Member retires in accordance with Rule 51.1 on pension calculated under Rule 51.3. (
c)The Professional Added Years granted or used to calculate the Reckonable Service Related Benefit in any particular case shall not exceed 10 years, and shall be calculated as follows: (
i)Where a minimum entry age in excess of 25 was specified the number of added years shall not be greater than the difference between such entry age and 25. (
ii)In all other cases the number of added years shall not be greater than the aggregate of 18, the minimum number of years in which the prescribed qualification(
s)can be obtained and the minimum number of years essential experience required, reduced by 25. (
d)Where the number of years’ experience required was not specified in the advertisement for the position, the lowest number of years’ relevant experience of those actually offered appointment arising from the same advertisement may be deemed to be the minimum number of years’ experience required, subject to a limit of 10 years. (
e)The Professional Added Years granted or used to calculate the Reckonable Service Related Benefit (as the case may
be)shall be reduced by: (
i)Previous Reckonable Service in the Board prior to the appointment to the position for which the Professional Added Years are granted or used to calculate the Reckonable Service Related Benefit (as the case may be). (
ii)Reckonable Service which has been transferred or which has been bought by way of a transfer value into this Scheme. (iii) Retained benefits in another occupational pension scheme which the Member is in receipt of or to which the Member has a future entitlement. (
iv)Any award of Added Service for Ill-Health which together with any award under this Rule would have the effect of a combined grant of service or use of service in the calculation of a Reckonable Service Related Benefit (as the case may be), of more than 10 years’ service. Provided that the Member in respect of whom Professional Added Years are granted shall pay contributions set out in Rule 38.5 having regard to spouses’ and Children’s benefits payable under Part Eleven. 32.5 Ill-Health Early Retirement additional service Where a Contributing Member is retired, or a Former Contributing Member was retired having been a Contributing Member immediately prior to becoming a Pensioner, in either case on the grounds of ill health, the Trustees may, if they so wish, grant to the Member: (
a)in the case of the Former Contributing Member, additional Reckonable Service to be treated as Reckonable Service, and, (
b)in the case of any other Contributing Member, additional Reckonable Service to be used to calculate the Reckonable Service Related Benefit in the Reckonable Year in which the Contributing Member’s early retirement under Rule 51.1(
b)on pension calculated under Rule 51.3 occurs, subject to the following limits. (
c)Where the aggregate of the Member’s Subsequent Service, Apprenticeship Service and Casual or Temporary Service is not less than 5 years nor more than 10 years, an equal number of years, provided that such added service shall not exceed the additional Reckonable Service Related Benefit which would have accrued if the Member had remained in service up to age 65 or if applicable, the later date under paragraph (
a)of the definition of Normal Retiring Date. (
d)Where the aggregate of the Member’s Subsequent Service, Apprenticeship Service and Casual or Temporary Service is more than 10 years, the additional Reckonable Service shall be the greater of: (
i)an amount equal to the difference between actual Subsequent Service, Apprenticeship Service and Casual or Temporary Service and 20 years, and such added service shall not exceed the additional Reckonable Service which would have accrued if the Member had remained in service up to age 65 or if applicable, the later date under paragraph (
a)of the definition of Normal Retiring Date; and (
ii)6 years and 243 days, provided such added service shall not exceed the additional Reckonable Service which would have accrued if the Member had remained in service up to age 60. Provided that any Notional Service being contributed for under Rule 32.2 shall be excluded when added service under Rule 32.5 is being calculated. 32.5 32.6 Retirement on Marriage service Where a Member who has retired from the Board’s service on marriage and obtained the benefits provided under Rule 55 is subsequently re employed by the Board prior to 1 January 2011, she may, if she wishes, reckon her former service as Reckonable Service prior to 1 January 2012 by making a payment to the Fund in accordance with Rule 38.7. Provided that where prior to her marriage a Member who contributed at the rate of contributions applicable to a Class D Social Insurance Contributor (or the equivalent and, on retiring from the Board’s service on marriage, obtained the benefits provided under Rule 55, is subsequently re employed by the Board and makes a payment to the Fund in accordance with Rule 38.7, her former service shall be reckoned as though she had contributed at the rate of contributions applicable to a Class A Social Insurance Contributor (or the equivalent). 32.7 Service relating to Prior Employment in the Civil Service or in an Approved Organisation Where a Member previously employed in the Civil Service or in an Approved Organisation has been admitted to the Scheme under Rule 24.3, service which is reckonable for the purposes of the superannuation scheme applicable to the Member’s employment with the Civil Service or Approved Organisation (as the case may
be)shall be reckonable as Subsequent Service with the Board and treated as Reckonable Service given prior to 1 January 2012 for the purposes of the Scheme provided it has been transferred in accordance with Section 4 the Superannuation and Pensions Act, 1963 (No. 24 of 1963). 32.8 Service under the Local Government Superannuation Code Where a person who is or was pensionable under the Local Government Superannuation Code enters the Board’s service and becomes a Contributing Member of this Scheme he shall be entitled to reckon his service which was pensionable service under the Local Government Superannuation Code as Subsequent Service with the Board on the basis that it is treated as Reckonable Service prior to 1 January 2012 provided the service has been transferred. 32.9 Service under the Local Government (Superannuation) (Consolidation) Scheme 1998 Where a Contributing Member who had pensionable service for the purposes of Chapter 2 or 3 of Part 11 of the Local Government (Superannuation) (Consolidation) Scheme 1998 ( S.I. No. 455 of 1998 ) entered the Board’s service before the date on which the Board was approved of by the then Minister for the Environment, Heritage and Local Government for the purposes of article 9

(1)(f), 33

(1)(f), 63

(1)(f), or 88

(1)(

f)of the Local Government (Superannuation) (Consolidation) Scheme 1998 ( S.I. No. 455 of 1998 ), such Contributing Member shall be entitled to the benefit of this Rule, provided however that if he obtained a refund of contributions in respect of any such service he shall be entitled to the benefit hereinbefore mentioned if, but only if, he repays the refunded contributions in accordance with the provisions of the Local Government (Superannuation) (Consolidation) Scheme 1998 ( S.I. No. 455 of 1998 ). 33. Interruptions in Service 33.1 Service prior to break in service with the Board Any period of service in the employment of the Board prior to a break in that service may be reckoned as service with the Board prior to 1 January 2012 if: (
a)service prior to the break in service before 1 January 2012 is service which would have been reckonable if the break had not occurred; and (
b)the contributions paid to the Fund by the Contributing Member in respect of such period of service remain in the Fund, or, (
c)where a sum in respect of such contributions or such contributions and interest thereon has been repaid to such Contributing Member, such sum with interest at such rate as determined by the Trustees pursuant to Rule 40(
d)is refunded to the Fund by such Member, or, with the consent of the Trustees, by his legal personal representative in the case of his death, and such service shall be treated as Reckonable Service given prior to 1 January 2012. 33.2 Temporary Secondment (
a)Where a Contributing Member is, with the consent of the Board, seconded temporarily to some other employment: (
i)the period of the secondment prior to 1 January 2012 shall be reckoned as Reckonable Service prior to 1 January 2012, and (
ii)the period of the secondment on and after 1 January 2012 shall be reckoned for Reckonable Service Related Benefit in the Reckonable Year or Reckonable Years in which the secondment occurs, so long as contributions in respect of such service are paid in accordance with Rule 38.13, and secondment shall not in the case of (
i)constitute a break in the Subsequent Service of the employee with the Board in respect of Reckonable Service prior to 1 January 2012. (
b)If the contributions of any seconded Contributing Member remain unpaid for a period of three months: (
i)the Trustees may by resolution declare that the seconded Contributing Member has ceased to be a Contributing Member as from a date specified in the resolution, but (
ii)the seconded Contributing Member shall, on returning to the employment of the Board, from the date of such re-employment, be reinstated as a Contributing Member and shall be entitled to reckon: (A) the period prior to 1 January 2012 during which he was seconded as service to be treated as Reckonable Service prior to 1 January 2012, and (B) for each Reckonable Year in which the secondment occurs (i.e. on and after 1 January 2012) as service to be treated as Reckonable Service Related Benefit on and after 1 January 2012, Provided that the seconded Contributing Member and the Board shall have paid to the Fund such sum in respect of arrears of contributions and interest thereon as determined by the Trustees pursuant to Rule 40(d). 33.3 Career Break and other Unpaid Leave Where prior to 1 January 2012 a Member is: (
a)on a career break approved by the Board, (
b)on unpaid leave approved by the Board, in respect of which no contributions are payable under Rule 38.14, he still remains eligible for the full benefits of the Scheme in respect of Reckonable Service prior to 1 January 2012 but the period of the career break or other unpaid leave shall not be reckoned for the purpose of the Scheme unless contributions of the full amount are paid by the Member to the Fund and shall not be reckoned for the purpose of the Scheme in respect of the period after 31 December 2011. 34. Job-Sharing Employees With effect from 1 April 1987, when a Member is working or has worked in a job sharing capacity for a period which would otherwise be reckonable for the purposes of the Scheme, only one half of that period calculated as if the Member worked Full-Time Hours shall be reckoned. 35. Service After Normal Retiring Date Where the Board retains a Member in its service after he has attained his Normal Retiring Date: (
a)service after that date shall not be reckoned for the purpose of the Scheme; and (
b)Member contributions under Rule 38.1 shall cease to be payable by the Member. PART SIX - CONTRIBUTIONS 36. Contributions to Be Paid by Way of Deduction 36.1 Contributions of Contributing Members (save for contributions which are, as hereinafter prescribed, paid in one lump sum) shall be paid from the date of admission to membership and shall continue for so long as the Member is in the pay of the Board and has not become a Defined Contribution Scheme Member (but not after Normal Retiring Date). 36.2 Contributions shall be paid by way of deductions, of as nearly equal amounts as is practicable, from monthly or fortnightly or weekly payments of Pensionable Salary or Net Pensionable Salary, as the case may be, and such deductions shall operate as payments to the Fund by the Contributing Members on the day on which the salary, from which each periodic deduction is made, became due. 37. Payment of Board Contributions The Board shall, out of its own moneys, pay to the Trustees weekly or fortnightly or monthly, as the case may be, such sums as are required of it by the Scheme. 38. Contributions to the Fund 38.1 Member Contributions The normal contribution rate for each Contributing Member is: (
a)1% of Pensionable Salary in respect of lump sum benefits, and (
b)4% of either: (
i)Net Pensionable Salary in the case of a Co-ordinated Member, or (
ii)Pensionable Salary in any other case, in respect of a Member’s pension, and (
c)1½% of Pensionable Salary where the Member is a contributor for spouses’, Civil Partners’ and children’s benefits, provided that: (
i)during periods where Members work in a Job-Sharing capacity, contributions calculated under this Rule shall be one half of the contributions calculated as if the Member worked Full-Time Hours; (
ii)during periods where Members work Part-Time Hours, contributions calculated under this Rule shall be multiplied by the Member’s Part-Time Fraction and where Rule 66.2(c)(
ii)applies to the Member, one-third of the cost of the increase to the Member’s Reckonable Service referred to in Rule 66.2(c)(ii), such cost being decided by the Actuary for this purpose having regard to the Pensionable Salary of the Member at the date of resignation from the service of the Board under the Performance Improvement Project Severance Scheme 2012 shall be paid by the Member on or before the date of resignation. 38.2 Board Contributions The normal contribution rate for the Board shall be: (
a)2% of Pensionable Salary in respect of lump sum benefits, and (
b)8.4% of either: (
i)Net Pensionable Salary in the case a Co-ordinated Member; or (
ii)Pensionable Salary in any other case, in respect of a Member’s pension, and (
c)1½% of either: (
i)Net Pensionable Salary in the case a Co-ordinated Member, or (
ii)Pensionable Salary in any other case, where the Member is a contributor for spouse’s or Civil Partner’s and children’s benefits, Provided that: (A) during periods where a Member works in a Job-Sharing capacity, contributions calculated under this Rule shall be one half of the contributions calculated as if the Member worked Full-Time Hours, (B) during periods where a Member works Part-Time Hours, contributions calculated under this Rule shall be multiplied by the Member’s Part-Time Fraction, and (C) where Rule 66.2(c)(
ii)applies to the Member, two-thirds of the cost of the increase to the Member’s Reckonable Service referred to in Rule 66.2(c)(
ii)(such cost being decided by the Actuary for this purpose having regard to the Pensionable Salary of the Member at the date of resignation from the service of the Board under the Performance Improvement Project Severance Scheme 2012) shall be paid on or before the date of resignation. 38.3 Additional Contributions to the Fund (
a)In addition to the normal contribution rates set out in Rules 38.1 and 38.2, from 1 March 2006 in order to fund a deficiency previously identified by the Actuary in the valuation as at 31 December 2003, as detailed under the 2005 Pension Pay and Change Agreement, there shall be additional contribution rates of 2% of Pensionable Salary by Members and 4.5% of Pensionable Salary by the Board. (
b)Contributions paid by Members under this Rule 38.3 shall be deemed to be in respect of Member’s pension and shall be refundable whenever a refund or partial refund of Member’s contributions is being made under the Scheme, with Compound Interest. 38.4 Nothing set out in Rules 38.1 to 38.3 shall, subject to the approval of the Minister, with the consent of the Minister for Public Expenditure, NDP Delivery and Reform, preclude a revision of the percentages set out in this Rule 38 if a surplus or deficiency is identified by the Actuary under Rule 22 at a future date. 38.5 Contributions in respect of Professional Added Years Where Professional Added Years are granted to a Member under Rule 32.4, the Member shall, at the date his benefits commence to be paid, contribute to the Fund in respect of the Professional Added Years at the rate of 1% of his Pensionable Salary (being the rate of Pensionable Salary current at the date his benefits commence in the case of a Former Contributing Member and, in any other case, the rate of Pensionable Salary in the Reckonable Year in which the Contributing Member retires in accordance with Rule 51.1). This contribution shall be regarded as being in respect of spouses’, Civil Partners’ and children’s benefits. The Board shall contribute to the Fund in respect of the balance of the full cost of Professional Added Years at rates to be determined by the Actuary. 38.6 Contributions in respect of Notional Service Where a Member elects to contribute for Notional Service under Rule 32.2, the rate of contribution shall be decided by the Actuary having regard to the age of the Member at the date he so elects, the date of his election, whether the Member is a Co-ordinated Member, whether the additional pension so obtained will be reckonable for spouses’ and Civil Partners’ pension, and whether the contribution is paid at once, in instalments or subject to interest. In deciding the rate of contribution the Actuary shall have regard to the fact that the Member shall pay the full cost of the Notional Service, including provision for pension increases. Where contributions in respect of spouses’, Civil Partners’ and children’s pensions are refunded to or in respect of a Member in accordance with Rules 73.1, 73.3, 73.5 or 73.6, the spouses’, Civil Partners’ and children’s pension element of any contributions paid by the Member under Rule 32.2 shall be refundable with Compound Interest to the Member or his estate as the case may be. 38.7 Contributions in respect of retirement from service on marriage A Member who retired from the Board’s service on marriage, obtained the benefits provided under Rule 55, is subsequently re employed by the Board and wishes to reckon her former service in accordance with Rule 32.6, shall repay to the Fund: (
a)the full amount of any refund of contributions she received on retirement plus Compound Interest, at a rate to be decided by the Actuary, and (
b)an amount equal to the proportion of a year’s Pensionable Salary she received under Rule 55.1(
a)but calculated in accordance with the following formula: (A x B)/

(12)Where: (

i)A is the number of years on which the benefit was based, and (
ii)B is the uprated value at 31 December 2011 of her Pensionable Salary point at the date of retirement or marriage as Revalued to the date of full repayment to the Fund. 38.8 Contributions in respect of Apprenticeship Service Where a Member elects to contribute for Apprenticeship Service under Rule 32.1, at any time up to his date of retirement, the Board is obliged to contribute. The contributions payable by the Member and the Board shall be calculated by reference to the rates set out in Rules 38.1, 38.2 and 38.3 and levied on the prevailing current average of the apprenticeship pay scales: (
a)at the time of purchase, in the case of a Former Contributing Member; or (
b)at 31 December 2011, Revalued to the time of purchase, in any other case. Compound Interest shall be charged if the Member chooses to pay by instalments. 38.9 Contributions in respect of loss of service A Contributing Member who suffered a loss of service as detailed in Rule 30.2 may, at any time up to retirement, recover all or part of such service by the payment of: (
a)2% of his current Pensionable Salary in the case of a Former Contributing Member; or (
b)2% of his Pensionable Salary at 31 December 2011 Revalued to the time of purchase for each year of such service, in any other case and the Board shall be obliged to pay likewise. 38.10 Contributions in respe

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AI explanation based on the official legal text. Indicative, not a substitute for legal advice.