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Córas Iompair Éireann

Dáil Éireann Debate, Tuesday - 7 December 2021

Tuesday, 7 December 2021

Questions (191)

Bríd Smith

Question:

191. Deputy Bríd Smith asked the Minister for Transport if he has signed or plans to sign the Statutory Instrument to sanction the changes to the CIÉ regular wages scheme agreed in June 2020; if not, when it will be signed; the reason for the ongoing delay given that he indicated that it would be signed in the third quarter of 2021; if changes to the scheme including higher pensions payments and lump sums will be retrospectively awarded to workers that have retired since the scheme was agreed in June 2020; and if he will make a statement on the matter. [60524/21]

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Written answers

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.In relation to the RWS, CIÉ has prepared and submitted draft Statutory Instruments (SIs) to give effect to the proposed changes to the scheme. These changes involve significant amendments to the Scheme which are necessary in order to address the Minimum Funding Standard requirements under the Pensions Act. These changes have been agreed by the trustees of the schemes, the employees and the CIÉ Group following extensive and prolonged engagement between all parties. There are a number of steps involved before an SI can be made, including the statutory consultation process. The details of the SI will be finalised shortly and will be published as part of the consultation process. In this context, I would like to again reassure the Deputy that my Department, in consultation with advisors in NewERA, are working on the draft SIs as expeditiously as possible.

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