Thursday, 17 June 2021

Questions (80)

Mick Barry


80. Deputy Mick Barry asked the Minister for Transport his engagements with trade unions, employees and the management of CIÉ in relation to the underfunding in the company’s pension scheme; and if he will make a statement on the matter. [32417/21]

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Written answers (Question to Transport)

As Minister for Transport, I have responsibility for policy and overall funding in relation to public transport in Ireland.

The CIÉ Group has two pension schemes, namely the Regular Wages Scheme (“RWS”) and 1951 superannuation scheme (“1951 Scheme”) and issues in relation to CIÉ pension schemes are primarily a matter for the trustees of the schemes, the CIÉ Group and their employees. Officials from my Department have regular engagement with CIÉ on matters relating to the corporate governance of the Group, including matters relating to the pension schemes.

In relation to the RWS, CIÉ has prepared and submitted draft Statutory Instruments (SIs) to give effect to the proposed changes to the scheme, and these drafts are now being considered by my Department.

Concerning the 1951 pension scheme, members of the scheme were recently balloted regarding the Labour Court Recommendation which emerged on 23rd November 2020, with a majority of the members voting to accept the proposals. CIÉ have recently written to me advising that they intend to begin the process of amending the Statutory Instruments to implement the Labour Court Recommendation. I understand that CIÉ has also advised the Pensions Authority and the ‘1951’ Pension Scheme Trustees and Committee of this development.