Oireachtas Joint and Select Committees

Thursday, 24 January 2013

Public Accounts Committee

National Transport Authority - Financial Statement 2011

11:50 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

On page 49, there is a figure to do with the NTA's pension scheme. It is a figure at which in this day and age people will be intrigued. They give a detailed description of the NTA's defined benefit scheme on page 49, and the entire pension scheme is based on expected future pensionable salary increases of 3.5% per annum. I certainly hope staff did not get a 3.5% increase last year and I hope they do not get one this year. We cannot afford that at present when there are cuts across the board. Why is the NTA's pension scheme based on the assumption that staff were paid a 3.5% increase last year and will be paid a 3.5% salary increase this year and next year? That assumption cannot be correct.

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