Houses of the Oireachtas (Members) Pensions (Amendment) Scheme 2007.
Statutory Instruments
Source: Statutory Instruments

num: 1
paragraphs: (1) This Scheme may be cited as the Houses of the Oireachtas (Members) Pensions (Amendment) Scheme 2007.
(2) This Scheme comes into operation on 24 May 2007.
num: 2
paragraphs: The Houses of the Oireachtas (Members) Pensions (Amendment) Scheme 1997 ( S.I. No. 212 of 1997 ) (as amended by the Houses of the Oireachtas (Members) Pensions (Amendment)) (No. 2) Scheme 1998 ( S.I. No. 373 of 1998 )) is amended:
(a) in clause 3—
(i) by substituting the following for subclause (1):
“(1) A pension payable under the new Scheme to a former member, who had at any time been in receipt of an additional allowance, shall be increased in accordance with the following formula—
F = P + (A x Y)
7,300
where—
F is the pension as increased by this Scheme,
P is the pension payable under the new Scheme before being increased under this Scheme,
A is—
(I) where the former member had been in receipt of an additional allowance in respect of one position only, the additional allowance currently payable to the holder of such position, or
(II) where the former member held more than one position in respect of which he had been in receipt of an additional allowance, the weighted average additional allowance calculated as follows—
(AA1 x T1 ) .... (AAn x Tn )
T 1 .... T n
where—
AA 1 .... AA n represents the additional allowances in descending order of monetary value currently payable in respect of each position which was held by the former member and in respect of which an additional allowance was payable, provided that in calculating (AA 1 x T 1 ) .... (AA n x T n ), the sum of the periods (T 1 , T 2 ... T n ) in respect of which each additional allowance was held shall not exceed 3,650 days,
T 1 .... T n represent the period in days during which each of those positions was held subject to the sum of T 1 .... T n not exceeding 3,650 days, and
Y is—
(I) the total number of days in respect of which an additional allowance was payable to the former member, or
(II) 3,650 days,
whichever is the lesser.”,
(ii) by substituting the following for the formula contained in subclause (2):
“Fw = Pw + (A x Y)
(7,300 x 2)”,
(iii) by substituting the following for the formula contained in subclause (4):
“Gf = G + (3 x A x Y)
7,300”,
(b) in clause 4—
(i) by substituting the following for subclause (1):
“(1) A pension payable under subclause (1) of Clause 5 of the old Scheme to a former member, who had at any time been in receipt of an additional allowance, shall be increased in accordance with the following formula—
F = P + (A x 4/3Y)
20
where—
F is the pension as increased by this Scheme,
P is the pension payable under the old Scheme before being increased under this Scheme,
A is—
(I) where the former member had been in receipt of an additional allowance in respect of one position only, the additional allowance currently payable to the holder of such position, or
(II) where the former member held more than one position in respect of which he had been in receipt of an additional allowance, the weighted average additional allowance calculated as follows—
(Aa1 x Tt1 ) .... (Aan x Ttn )
Tt 1 .... Tt n
where—
Aa 1 .... Aan represents the additional allowances in descending order of monetary value currently payable in respect of each position which was held by the former member and in respect of which an additional allowance was payable, provided that in calculating (Aa 1 x Tt 1 ).... (Aa n x Tt n ), the sum of the periods (Tt1, Tt 2 ... Tt n ) in respect of which each additional allowance was held shall not exceed 3,650 days,
Tt 1 .... Ttn represent the period in days during which each of those positions was held subject to the sum of Tt 1 .... Ttn not exceeding 3,650 days, and
Y is—
(I) the total number of years during which an additional allowance was payable, such number of years being calculated by dividing by 365 the total number of days during which an additional allowance was payable to the person and reckoning on a pro rata basis any fraction of a year in the result of the calculation, or
(II) 10
whichever is the lesser.”,
(ii) by substituting the following for the formula contained in subclause (2):
“Fr = Pr + (A x Y)
20”,
(iii) by substituting the following for the formula contained in subclause (5):
“(3 x A x Y)
20”,
(iv) by substituting the following for the formula contained in subclause (6):
“(A x Y)
40”.