Mr. Terence Ahern:

The pensions committee looks after the administration, which is separate from the trustees of the 1951 pension scheme. It is worth noting that the CIÉ board has dominant control over the governance structure of the 1951 pension scheme. For instance, the trustees are nominated by the board and appointed by the board with the agreement of the Minister. The committee comprises eight members: four elected by the employees and four nominated by the board. However, there are eight members with nine votes because the chair has an extra casting vote and the chair must be one of the board appointees, meaning that the board has a majority.

The board has dominant control over the governance structure. It appoints the trustees and the pension committee. It also appoints the secretary, the actuary and the legal advice. Many of the members of the pension scheme feel we are second-class citizens in our own pension scheme, which is regrettable.