Brendan Howlin (Wexford, Labour)
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167. To ask the Minister for Transport, Tourism and Sport the current situation in relation to Córas Iompair Éireann Superannuation Scheme, 1951 (Amendment) Scheme (Confirmation) Order, 2000; if the scheme currently meets the minimum funding standard set out in the Pension Act 1990; if his attention has been drawn to the fact that members of the scheme have not received a pension increase since 2008 and that the majority of members of the scheme do not qualify for social welfare pensions; if he will examine this issue with a view to ensuring that scheme members receive cost of living increases; and if he will make a statement on the matter. [33566/22]

Eamon Ryan (Dublin Bay South, Green Party)
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The CIÉ Group’s two pension schemes, namely the Regular Wages Scheme (“RWS”) and 1951 superannuation scheme (“1951 Scheme”), are currently not in compliance with the Minimum Funding Standard (MFS) as defined in the Pensions Act 1990.

As the Deputy may be aware, the CIÉ Group is actively engaged in introducing changes to the schemes aimed at rectifying the significant deficit in order to meet the statutory Minimum Funding Standard required by the Pensions Authority. 

In relation to the 1951 Scheme, CIÉ has prepared and submitted a draft SI to give effect to proposed changes to the 1951 scheme which is being considered by my Department in conjunction with NewERA. However, the rules governing the 1951 scheme are currently subject to ongoing legal proceedings before the Commercial Court. The Hearing commenced on 24 May 2022 for 4 days and the next steps are subject to the outcome from the Hearing.

In relation to pension increases for CIÉ pensioners, I understand that an increase for pensioners, would only be possible when the Schemes are capable of sustaining such increases. Furthermore, any such proposal would be dependent on the advice of the Scheme Actuary at the time an increase is proposed, and is done in agreement with the Trustees of the Schemes.

Accordingly, I have forwarded the Deputy's question to CIÉ for direct reply.  Please advise my private office if you do not receive a reply within ten working days.