Mick Barry
Ceist:10. Deputy Mick Barry asked the Minister for Transport, Tourism and Sport if the CIÉ pension scheme can be converted into an unfunded scheme as exists for employees in most statutory bodies. [7725/18]
Amharc ar fhreagraThursday, 15 February 2018
Ceisteanna (10, 35)
Mick Barry
Ceist:35. Deputy Mick Barry asked the Minister for Transport, Tourism and Sport his views on the concerns recently expressed by the unions regarding the funding of the CIÉ pension fund; and if he will make a statement on the matter. [7545/18]
Amharc ar fhreagraFreagraí ó Béal (9 píosaí cainte)
I ask the Minister for a statement on the position in regard to the CIÉ pension funds.
I propose to take Questions Nos. 10 and 35 together.
I refer Deputy Barry to the answer given to Parliamentary Question No. 2, for which he was present. Issues in regard to the CIÉ pension scheme are primarily a matter for the CIÉ group, its employees and the trustees of the pension scheme.
The employees of CIÉ group companies, Bus Átha Cliath, Bus Éireann, Iarnród Éireann, and CIÉ itself are provided pension benefits on retirement from one of two schemes – the regular wages scheme or the superannuation scheme. Both schemes are defined benefit schemes. The current CIÉ funded pension schemes are in line with other pension schemes in the private and commercial semi-State sectors which are generally funded schemes. CIÉ’s contributions to both schemes are determined on the basis of advice of the actuary and the rules of the schemes. CIÉ has advised that it has complied with its contribution requirements under SI 323/2000 and SI 205/2010.
Yes, Deputy Barry.
Will the Acting Chairman allow me one sentence?
We are over time.
It is a specific answer to the Deputy's question. I have no plans for the CIÉ funded pension schemes to be converted into unfunded pension schemes.
Question No. 10 was not grouped before now. It is up to the Minister to group questions, not me. Deputy Barry has one minute.
The issue is the €80 million underfunding of the CIÉ pension funds, which is a matter of grave concern to 10,000 workers. Earlier the Minister challenged Deputy Munster to refer him to where the CIÉ board had been in defiance of the law. I will tell him precisely where. SI 323/2000 and SI 205/2010 require the board of CIÉ to financially support and maintain the solvency of both of the pension funds in every year, something it has been in breach of for nearly ten years now. On 20 September 2017, the CIÉ superannuation scheme 1951 pension committee failed to confirm to CIÉ's employees that it had not broken the law, SI 353/1951, in its submission of funding proposals to the Pensions Authority in 2013. This is happening on the Minister's watch. The law is being broken. These workers are being taken for a ride. What is the Minister prepared to do about it?
I am not taking a response. The Deputy has made his case. I have been extremely fair towards him by allowing him in.
A referred reply was forwarded to the Deputy under Standing Order 42A.
Written Answers are published on the Oireachtas website.