James Lawless (Kildare North, Fianna Fail)
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68. To ask the Minister for Transport, Tourism and Sport if he will examine the CIÉ superannuation scheme 1951 (details supplied); and if he will make a statement on the matter. [11644/23]

Eamon Ryan (Dublin Bay South, Green Party)
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Issues in relation to CIÉ pension schemes are primarily a matter for the trustees of the schemes, the CIÉ Group and their employees.

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. The changes also aim to sustain the pension schemes into the long-term.

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. The deputies may also be aware that 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 additional questions raised by the Deputy in relation to the 1951 scheme are matters for CIÉ. I have, therefore, referred the Deputy's questions to CIÉ for direct reply. Please advise my private office if you do not receive a reply within ten working days.