Paul McAuliffe (Dublin North-West, Fianna Fail)
Link to this: Individually | In context

256. To ask the Minister for Transport, Tourism and Sport the status of the CIÉ pension agreement (details supplied); and if he is aware of the concerns [56928/25]

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

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. As a commercial semi-state body, Córas Iompair Éireann (CIÉ) are responsible for the provision of pension schemes for their employees.

Regarding the recent engagement between CIÉ and the Trade Union Group (TUG) on the matter of the CIÉ Pension Schemes, the Department acknowledges the longstanding tradition within CIÉ of ensuring that terms and conditions of employees, which include pension provision, are negotiated collectively with recognised Trade Unions.

I welcome the constructive and collaborative approach of the Trade Union Group and CIÉ management in reaching agreement on a pathway forward, which is aimed at balancing the objectives of supporting the future sustainability of the schemes, protecting existing benefits for members of the scheme (including pensioners), and contributing to the overall financial stability of the CIÉ Group.

I acknowledge the positive outcome from the ballot held on the CIÉ Pension Proposal for both Schemes, which was agreed by CIÉ and the TUG in May of this year.

In line with the appropriate processes and compliance with all applicable requirements, my Department will continue to engage with CIÉ as well as financial advisors at NewERA, the Pensions Authority and the Department of Public Expenditure, Infrastructure, Public Services, Reform and Digitalisation on the next steps in progressing the agreement and bringing CIÉ pensions onto a more stable footing for the benefit of active, and retired scheme members.

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 Deputy's question to CIÉ for direct reply. Please advise my private office if you do not receive a reply within ten working days.