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Defined Benefit Pension Schemes

Dáil Éireann Debate, Thursday - 11 April 2019

Thursday, 11 April 2019

Questions (209)

Mary Lou McDonald


209. Deputy Mary Lou McDonald asked the Minister for Housing, Planning and Local Government if a defined benefit pension scheme (details supplied) has been closed; and if he will make a statement on the matter. [17033/19]

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Written answers (Question to Housing)

The Ervia defined benefit pension scheme is closed to new members. Historically, Ervia provided retirement benefits for the majority of its employees through defined benefit schemes. As part of a programme of pay and pension reform agreed with staff and unions, Ervia closed the defined benefit scheme to new entrants with effect from February 2014 and agreed, subject to Ministerial consent, to introduce a defined contribution scheme for new entrants.  A PRSA scheme was offered to new entrants in the period following closure of the defined benefit scheme, until the defined contribution scheme was introduced following Ministerial approval.  Ministerial approval was given in April 2016 and the scheme commenced on 30 August 2016.