Thursday, 1 February 2018

Questions (328, 329)

Aengus Ó Snodaigh

Question:

328. Deputy Aengus Ó Snodaigh asked the Minister for Employment Affairs and Social Protection if her attention has been drawn to the fact that Córas Iompair Éireann submitted severely flawed funding submissions to the Pensions Authority that do not fully reflect the reality of the situation with the current and future funding of the defined benefit pensions of up to 10,000 members of the CIÉ pension scheme. [5093/18]

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Aengus Ó Snodaigh

Question:

329. Deputy Aengus Ó Snodaigh asked the Minister for Employment Affairs and Social Protection her plans to investigate if the election process to the CIÉ pension fund management committee was in compliance with regulations. [5095/18]

View answer

Written answers (Question to Employment)

I propose to take Questions Nos. 328 and 329 together.

Scheme trustees have duties and responsibilities under trust law, under other relevant legislation and under the Pensions Act, 1990, as amended. The duties of pension scheme trustees include administering the trust in accordance with the law and the terms of the trust deed and rules. Consequently any decisions made by corporate or individual trustees of an occupational pension scheme are governed by the relevant legislation. The provisions of the Pensions Act are enforced through the supervision of the Pensions Authority.

Although the Pensions Authority is under the aegis of my Department, it regulates pension schemes entirely independently of my Department. Therefore, I am not in a position to comment on the matters raised by the Deputy.

If scheme members or Deputies have concerns about the CIÉ pension scheme they should address queries directly to the Pensions Authority.

I hope this clarifies the matter for the Deputy.