Dáil Éireann Debate, Thursday - 19 December 2013
50. Deputy Richard Boyd Barrett asked the Minister for Transport, Tourism and Sport if he will provide an update on any and all pension schemes available to employees of Dun Laoghaire Harbour Company; they way they are funded; and if he will make a statement on the matter. [54402/13]
Amharc ar fhreagraWithin the State commercial ports sector, the establishment and operation of superannuation schemes for employees is a matter for the company concerned subject to sections 40 and 41 of the Harbours Act 1996.
Dún Laoghaire Harbour Company operates a defined benefit superannuation scheme that is now closed to new members. As with any other scheme, the Dún Laoghaire Harbour Company scheme must meet the funding standards as set down by the Pensions Board. In common with many such schemes the Dún Laoghaire Harbour Company defined benefit superannuation scheme is in deficit and must therefore submit a funding proposal to the Pensions Board. The preparation and submission of funding proposals is a statutory requirement of the Pensions Acts and regulated by the Pensions Board.
I am aware that the Company and the trustees of the scheme have held discussions with scheme members regarding the required funding proposal. The submission of any funding proposal to the Pensions Board is a matter for the trustees of the superannuation scheme and not something in which I or my Department have a direct role.
