Brian Cowen (Laois-Offaly, Fianna Fail)

My reply clearly states that pensions are, in the first instance, primarily a matter for the relevant board. Commercial State bodies have their own autonomy and it is for them to work out with their stakeholders how they wish to proceed on such matters. They seek my approval in regard to their pension scheme only after they have reached agreement on it at that level.

The principle that guides this issue in regard to commercial State bodies is that it is a matter for the board concerned in the first instance, with the relevant legislation generally requiring the subsequent agreement of the responsible Minister and the concurrence of the Minister for Finance. In dealing with such proposals the bodies have regard to all relevant considerations, including discussions with employees and legal, contractual and procedural matters. It is not a matter that I pre-empt.

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