Eamon Ryan (Dublin Bay South, Green Party)
Link to this: Individually | In context | Oireachtas source

As Minister for Transport, I have responsibility for policy and overall funding in relation to public transport. Issues in relation to CIÉ pension schemes are primarily a matter for the trustees of the pension schemes, the CIÉ, Group and their employees.

Concerning pension increases for CIÉ pensioners, I understand that an increase for pensioners would only be possible when the respective Schemes are capable of sustaining such increases. For the first time in many years both CIÉ pension Schemes now meet the Pensions Authority’s Minimum Funding Standard (MFS), but the scheme deficits are still significant. The MFS indicates both schemes ability to ‘wind-up’ as it currently stands, as opposed to the ability to fund an increase in pension benefits.

Any proposal to increase pension benefits would be dependent on the advice of the Schemes Actuary at the time an increase is proposed and must be done in agreement with the Trustees of the Schemes. Awarding discretionary pension increases remains a goal of the CIÉ Group, but it is not envisaged that any such increases can be awarded from the Schemes in the near term.

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.