Dáil Éireann Debate, Wednesday - 18 September 2013
1638. Deputy Sean Fleming asked the Minister for Transport, Tourism and Sport his views on the deficit in the Córas Iompair Éireann pension scheme; if he understands this scheme to be a defined contribution scheme or the defined benefit scheme; and if he will make a statement on the matter. [37445/13]
View answerThe CIÉ Group operates two defined benefit pension schemes, the Executive scheme and the Regular Wages scheme. The total deficit in the schemes at 31st December 2012, as reported in the 2012 published Accounts, was €491.9m. I met the Chairperson and officials from CIÉ last week and received an update on the deficit in the pensions schemes. I was advised at that meeting that CIÉ had submitted a funding proposal to the Pensions Board to address the deficit and this proposal has been accepted.
