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Pension Provisions

Dáil Éireann Debate, Tuesday - 14 December 2021

Tuesday, 14 December 2021

Questions (177, 193)

James Lawless

Question:

177. Deputy James Lawless asked the Minister for Transport if he will examine an issue regarding the pension scheme for drivers (details supplied); and if he will make a statement on the matter. [61665/21]

View answer

Emer Higgins

Question:

193. Deputy Emer Higgins asked the Minister for Transport if he has considered the recommendations made by the Pensions Authority regarding the pension scheme for Dublin Bus drivers; and if he will make a statement on the matter. [61646/21]

View answer

Written answers (Question to Transport)

I propose to take Questions Nos. 177 and 193 together.

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 (mainly frontline staff), 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. It is expected that the details of the SIs will be settled shortly and published thereafter as part of the consultation process. In this context, I would like to reassure the Deputies that my Department, in consultation with advisors in NewERA, are working on the draft SIs as expeditiously as possible.

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