Gerald Nash (Louth, Labour)
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179. To ask the Minister for Transport, Tourism and Sport his views on a matter (details supplied) raised by elected Trustees of the CIÉ ‘1951’ pensions committee as it relates to his Ministerial responsibilities and functions; and if he will make a statement on the matter. [9608/23]

Eamon Ryan (Dublin Bay South, Green Party)
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CIÉ have advised that the 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 outcome from the Hearing is expected in the coming months.

The questions raised by the deputy in relation to the 1951 scheme are an operational matter for CIÉ. I have, therefore, referred the Deputy's question to the company for direct reply. Please advise my private office if you do not receive a reply within ten working days.

Louise O'Reilly (Dublin Fingal, Sinn Fein)
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180. To ask the Minister for Transport, Tourism and Sport if he intends to sign amending Statutory Instruments into law that would change and reduce the pension benefits of CIÉ employees under the CIÉ 1951 pension scheme; if he is aware that this semi-State pension scheme is solvent and compliant with the minimum funding standard provisions of the Pensions Act 1990, and that there is significant opposition from past and present CIÉ workers to any such changes; and if he will make a statement on the matter. [9616/23]

Eamon Ryan (Dublin Bay South, Green Party)
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CIÉ have advised that the 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 outcome from the Hearing is expected in the coming months.

The questions raised by the Deputy in relation in relation to the 1951 scheme are an operational matter for CIÉ. I have, therefore, referred the Deputy's question to the company for direct reply. Please advise my private office if you do not receive a reply within ten working days.