Dáil Éireann Debate, Thursday - 20 June 2024
86. Deputy Éamon Ó Cuív asked the Minister for Transport the steps he intends taking to ensure that retired CIÉ pensioners have adequate pensions, including providing Exchequer funding to the scheme, in view of the fact that these pensioners have not had a rise in their pensions for many years; and if he will make a statement on the matter. [26598/24]
View answerRegarding the the portion of the Deputy's question pertaining to exchequer funding, this would be a decision for Government, taking into consideration the possible wider implications for all other commercial semi-state bodies.
In relation to the 1951 pension Scheme, CIÉ has prepared and submitted draft S.I.s to give effect to Labour Court recommendations for the 1951 Scheme, as passed by ballot of trade union members in May 2021. The Department in the process of finalising work on the draft SI in conjunction with NewERA. The CIÉ Group is actively engaged in introducing changes to their pension schemes aimed at rectifying the deficit in order to meet the statutory Minimum Funding Standard (MFS) as required by the Pensions Authority. These changes also aim to sustain the pension schemes into the long-term.
Concerning pension increases for CIÉ pensioners, I understand that an increase for pensioners would only be possible when the Schemes are capable of sustaining such increases. Furthermore, any such proposal would be dependent on the advice of the Scheme Actuary at the time an increase is proposed, and is done in agreement with the Trustees of the Schemes.
Accordingly, I have forwarded the aspect of Deputy's question related to an increase in pension payments for members of the CIÉ pensions schemes to CIÉ for direct reply. Please advise my private office if you do not receive a reply within ten working days.
