The assets of a public sector defined benefit pension scheme may only be used in accordance with the regulations of the scheme, which are set out in the scheme's rules and trust deeds. The rules and trust deeds of funded pension schemes put in place for staff of commercial state bodies require Ministerial approval, that is the approval of the parent Minister and my consent, upon the establishment of the scheme and for any subsequent amendments.
All commercial state bodies are required to comply with the Code of Practice for the Governance of State Bodies including the annex on Remuneration and Superannuation, as amended in 2021. The Code of Practice provides clear guidance on the requirement for Ministerial approval for changes to pension schemes, such as the prerequisite for NewERA advice to inform the Ministerial approval process. It is also an obligation for each body to report on its compliance with the Code of Practice on an annual basis.
Regarding RTÉ, the assets of the defined benefit RTÉ Superannuation Scheme may only be used in accordance with the rules of the scheme. If RTÉ intend to propose a change to the scheme rules, this will firstly be a matter for the Minister for Culture, Communications and Sport to consider. Should the Minister wish to approve a proposed amendment to the scheme rules he must also seek my consent.