Written answers

Wednesday, 19 January 2022

Department of Transport, Tourism and Sport

Public Sector Pensions

Photo of Joan CollinsJoan Collins (Dublin South Central, Independents 4 Change)
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204. To ask the Minister for Transport, Tourism and Sport when the pension scheme for Dublin Bus drivers will be signed off on (details supplied). [63246/21]

Photo of Eamon RyanEamon Ryan (Dublin Bay South, Green Party)
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The CIÉ Group has two pension schemes, namely the Regular Wages Scheme ("RWS") and 1951 superannuation scheme ("1951 Scheme").

In relation to the RWS, CIÉ has prepared and submitted draft Statutory Instruments (SIs) to give effect to the proposed changes to the scheme. These changes involve significant amendments to the Scheme which are necessary in order to address the Minimum Funding Standard requirements under the Pensions Act. These changes have been agreed by the trustees of the schemes, the employees and the CIÉ Group following extensive and prolonged engagement between all parties.

There are a number of steps involved before an SI can be made, including the statutory consultation process. In accordance with the provisions of Section 44(3) of the Transport Act 1950, I directed CIÉ to publish a statutory notice in Iris Oifigiúil, which was advertised on the 14th of January 2022. Within 45 days from the publication of the notice, any person may make objections and representations in relation to the Schemes, addressing same to the Minister for Transport.

Regarding the 1951 Scheme, members of the Scheme were balloted regarding the Labour Court Recommendation which emerged on 23rd November 2020, with a majority voting to accept the proposals. CIÉ has prepared and submitted a consolidated draft Statutory Instrument to give effect to the proposed changes to the scheme which is being considered by my Department in conjunction with NewERA.

I further wish to advise that the rules governing the 1951 scheme are currently subject to ongoing legal proceedings before the Commercial Court. As such, being sub-judice, it is not appropriate for me to comment further on the matter.

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