Seán Ó Fearghaíl (Kildare South, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

320. To ask the Minister for Transport, Tourism and Sport if he will address the concerns raised in correspondence (details supplied) regarding the CIÉ 1951 pension scheme; and if he will make a statement on the matter. [17461/25]

Darragh O'Brien (Dublin Fingal East, Fianna Fail)
Link to this: Individually | In context | Oireachtas source

From the outset I would like to clarify that I, as Minister for Transport, have responsibility for policy and overall funding in relation to public transport. However, issues in relation to CIÉ pension schemes are primarily a matter for the trustees of the pension schemes, the CIÉ, Group and their employees. As a commercial semi-state body CIÉ are responsible for the provision of pension schemes for their employees, this is consistent with the pension arrangements of semi-state bodies.

My Department is engaged with financial advisors at NewERA, the Pensions Authority, and the Department of Public Expenditure, Infrastructure, Public Services, Reform and Digitalisation on the matter of bringing CIÉ pensions onto a more stable footing for the benefit of active, and retired scheme members.

I am acutely aware of concerns raised by the members of both CIÉ pension schemes, regarding the lack of pension increases since 2008, especially given the higher cost of living that many are facing. However, decisions regarding pension increases are ultimately a matter for the CIÉ Board as informed by actuarial advice and is subject to requirements imposed by statute and scheme rules. I understand that an increase for pensioners would only be possible when the Schemes are capable of sustaining such increases. Furthermore, any such proposal would be dependent on the advice of the Scheme Actuary at the time an increase is proposed, and is done in agreement with the Trustees of the Schemes.

Decisions regarding pension increases are ultimately a matter for the CIÉ Board as informed by actuarial advice and is subject to requirements imposed by statute and scheme rules. Accordingly, I have referred the Deputy's question relating to an increase in pension payments for members to CIÉ for direct reply. Please advise my private office if you do not receive a reply within ten working days.