Bríd Smith (Dublin South Central, People Before Profit Alliance)
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43. To ask the Minister for Communications, Climate Action and Environment if he and the Pensions Authority have signed a minimum funding standard submitted to them by the trustees of the defined benefit scheme in the ESB; if not, when he expects to sign off on the proposals; if his attention has been drawn to the fact that this proposal was arrived at with no consultation with the retired workers affected or their representative association; if this runs counter to the commitments of the Government; and if he will make a statement on the matter. [56337/21]

Eamon Ryan (Dublin Bay South, Green Party)
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Under the Code of Practice for the Governance of State Bodies and in line with circular 12/2014, my approval and that of the Minister for Public Expenditure and Reform is required prior to the submission by the Trustees of the ESB Defined Benefit Pension Scheme of a Funding Proposal to the Pensions Authority.  The Funding Proposal is a statutory requirement under Section 49 of the Pensions Act 1990 (as amended).A formal submission was received from the company secretary on behalf of the Board in June 2021. Following consideration by my Department and in line with the recommendations of NewERA, I gave my consent in July 2021. 

Employee engagement either directly or through representative associations is a matter for the Company. I have asked ESB to respond directly to the Deputy on this matter.