S.L. 171.2 ст. 43Gratuity on retirement.

(1)(a) A port worker who is a registered port worker on the date of the coming into force of these regulations*, or subsequently, shall receive a gratuity in respect of each year of service, or part thereof, to be reckoned as from the 4th April 1973.

(b) The payment of the gratuity at paragraph (a) shall be made by the Committee in any one of the following circumstances:

(i) to a port worker who reaches retirement age; or

(ii) to a port worker whose registration is cancelled by the Authority after a port worker is certified to be medically unfit for further port work by a medical board appointed by the Minister; or

(iii) to the heirs of a port worker who dies whilst being so registered.

(c) The Minister, after consultation with the Committee, may for the purpose of this subregulation, authorize that initial and yearly amounts be invested with a reputable assurance company for the purpose of the provision of such gratuities to port workers.

(2) A port worker who is so registered for the first time after 1st June 2007, and has been so registered for more than ten years, shall on reaching retirement age, or whose registration is cancelled after being certified to be medically unfit for further port work by a medical board appointed by the Minister, receive a gratuity of thirty four thousand nine hundred and forty euro sixty cents (€34,940.60).

(3) The heirs of a registered port worker who dies after the 1st June, 2007 shall receive a gratuity equivalent to three years of earnings. The earnings that have to be considered for the purpose of the computation of this gratuity shall be the average earnings of all the registered port workers for the year preceding the death of the registered port worker. The difference between the amount due in respect of the gratuity and all insurance proceeds shall be paid from the Fund.