29. (1) The Minister shall, for the purposes of defraying the cost to Irish Water of paying superannuation benefits to or in respect of persons referred to in subparagraph (i) of section 28 (1)(b), pay to Irish Water a sum equal to the cost that the Minister would incur were he or she liable to pay superannuation benefits to or in respect of those persons upon their retirement from Irish Water or death and calculated on the basis that their pensionable service and pensionable remuneration upon retirement or death remained the same as their pensionable service and pensionable remuneration as officers of the Minister immediately before the date of their appointment under section 27.

(2) The Minister shall, for the purposes of defraying the cost to Irish Water of paying superannuation benefits to or in respect of—

(a) persons who were accepted into the employment of Irish Water in accordance with section 19, and

(b) persons referred to in subparagraph (ii) of section 28(1)(b),

pay to Irish Water a sum equal to the cost that the local authority F19[or the Local Government Management Agency] would incur were it liable to pay superannuation benefits to or in respect of those members of staff upon their retirement from Irish Water or death and calculated on the basis that their pensionable service and pensionable remuneration upon retirement or death remained the same as their pensionable service and pensionable remuneration with the local authority F19[or the Local Government Management Agency] immediately before the date of their being so accepted into the employment of Irish Water, or their appointment under section 27.

(3) A sum payable to Irish Water under subsection (1) or (2) may be paid in such instalments and at such intervals—

(a) as may be agreed with the consent of the Minister for Public Expenditure and Reform, by the Minister with Irish Water, or

(b) in the absence of an agreement under paragraph (a) as may, with the consent of the Minister for Public Expenditure and Reform, be determined by the Minister.