Eamon Ryan (Dublin Bay South, Green Party)
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The Eircom Main Superannuation Scheme (as amended) was established by Statute for the purpose of providing for the pension liabilities of staff transferred from the former Department of Posts and Telegraphs to Telecom Éireann on its establishment on 1st January 1984, the Vesting day. The pre-vesting and post vesting liabilities of the scheme members were paid entirely out of the Main Fund until 1996.

Following extensive discussions with the Department of Finance at the time, formal arrangements for payment of the sums due in respect of pre-vesting service were settled between the company, Fund Trustees and that Department. The arrangements involved, inter alia, the establishment of the Eircom No. 2 Fund in 1999 to provide funding towards pre-vesting liabilities while the Main Fund continued to provide only for the post-vesting day liabilities arising.

The provisions of the eircom Superannuation Scheme stipulates that pension increases to members can be paid subject to authorisation at Ministerial level across three Departments; my Department, the Department of Public Expenditure, National Development Plan Delivery and Reform, and the Department of Finance.

In June 2023, my Department received a request from the trustees for sanction for an increase of 2%, with effect from 1 July 2023. The request has been considered and my Department has now sought concurrence with approval of the request from the Minister for Public Expenditure, NDP Delivery and Reform and the Minister for Finance, following which the formal approval of the request may be given.