Robert Troy (Longford-Westmeath, Fianna Fail)
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185. To ask the Minister for Transport, Tourism and Sport if he will confirm that he will not sign any amending Statutory Instrument changing the benefits of members of the CIÉ 1951 scheme given that the independent actuary of the 1951 Committee of Trustees has confirmed that the 1951 scheme now meets the minimum funding standard provisions of the Pensions Act 1990 and is solvent. [9683/23]

Robert Troy (Longford-Westmeath, Fianna Fail)
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186. To ask the Minister for Transport, Tourism and Sport if he will instruct Córas Iompair Éireann to provide a detailed explanation on a matter (details supplied), including all of the outstanding information sought by the statutory Committee of Trustees of the 1951 scheme. [9684/23]

Eamon Ryan (Dublin Bay South, Green Party)
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I propose to take Questions Nos. 185 and 186 together.

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.