Dáil Éireann Debate, Thursday - 2 March 2017
307. Deputy Peter Burke asked the Minister for Agriculture, Food and the Marine the reason the pension agreements with the Irish Greyhound Board, IGB, have not been honoured and the parameters changed for an organisation (details supplied) in County Westmeath; and if he will make a statement on the matter. [11099/17]
Amharc ar fhreagraBord na gCon is a commercial State body, established in 1958 under the Greyhound Industry Act, 1958, chiefly to control greyhound racing and to improve and develop the greyhound industry.
Bord na gCon has informed me that the Bord na gCon DB Plan pension scheme has been in deficit since 2008. The Trustee of the Plan (Irish Pension Trust Ltd) was required to put a Benefit Reduction and Funding Proposal in place in September 2016 under Section 49 and 50 of the Pensions Act which was approved by the Irish Pension Authority.
Under the Funding Proposal future pension service for current DB Plan members after 01 January 2019 will be required to move to DC plan accrual.
Staff members of the DB Plan and their trade union representatives were consulted about these changes and the details of the new DC scheme.
