Mr. Declan Carlyle:

I do not see it as an explosive document at all. It was one of a kind of many being considered by the board at that time. We were in a situation where the country was in crisis. How could the company manage its pension costs while its revenues fell and its subventions were cut by the State, like with other essential services? Ultimately, the recommendation from the actuary was 2.8 and 2.3 times. That was adhered to.

In 2013, when there was a submission on funding proposals, the trade unions rejected the requests to increase their contribution. The trade unions put the position to CIÉ at the time that when it put in 3.6 times and 2.7 times, they would consider an increase in their contribution under the review of the rules of the scheme. There was no recommendation to do so.