Shane Ross (Dublin Rathdown, Independent) | Oireachtas source

This is a subject on which Deputy Munster, like virtually every Deputy, will have received submissions from many of those working in CIÉ who are members of the pension funds involved. She will have the same sort of sympathy that everyone else would have for people in this situation where the pension fund is in deficit.

Issues pertaining to CIÉ’s pension scheme are primarily a matter for the CIÉ group, its employees and the trustees of the pension scheme. The employees of CIÉ are provided pension benefits on retirement from one of two defined benefit schemes, namely, the regular wages scheme or the superannuation scheme. In common with the overwhelming majority of such schemes, they are facing significant challenges in maintaining solvency to ensure prudent provision is made to fund the cost of future pensions in a low interest rate environment.

CIÉ has put on record at the Workplace Relations Commission, WRC, that it will not impose any change that it proposes without the agreement of the active members of both schemes and that it will continue to contribute to both schemes in accordance with the rules of the schemes. I have outlined the challenges faced in addressing the solvency of the schemes and the process under way to address the deficit, which involves detailed discussion between CIÉ and employee representatives, facilitated by the WRC. I urge all sides to re-engage with the WRC to resolve this issue.

The Deputy has also asked about CIÉ adherence to the requirements of statutory instruments. CIÉ has advised that it has complied with its contribution requirements under SI 323 of 2000 and SI 205 of 2010. Also, the Deputy may be aware that the schemes' accounts are independently audited and are required to be signed off by the trustees if they are satisfied that the rules have been complied with. These audited and trustee approved accounts form part of each scheme’s annual report that is circulated to all the members. To date, no case exists where this has not occurred.

Additional information not given on the floor of the House

In recent weeks, members of one of the pension schemes have highlighted particular concerns and these have been communicated to public representatives and raised with both the Committee of Public Accounts and the Oireachtas Committee on Transport, Tourism and Sport. Previous parliamentary questions from Deputies have also been referred to CIÉ for reply. I understand replies were issued to those Deputies last week indicating that CIÉ proposes to issue a comprehensive response to all queries on 22 February or as soon as possible thereafter. I am informed that a report on this issue will be presented to the CIÉ board which is meeting on 21 February. I will ask CIÉ to ensure that a comprehensive response will also issue to the Deputy on the issues she has raised.

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