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CIE Pensions Meetings

14 January 2020

Members will be aware that the issues surrounding both CIE Pension Schemes have been a matter of debate and discussion for the last number of years.

Under the 1990 Pension Act there is a requirement for all Defined Benefit pension schemes to remain adequately funded as per the Minimum Funding Standard, and also under the Accounting Standards. This Minimum Funding Standard (MFS) measurement, effectively means that if a Defined Benefit Scheme was to be wound up, that there are sufficient funds/assets in the scheme to meet its liabilities.

If schemes do not meet the MFS, then the statutory agency of the State, namely the Pensions Authority, will require a funding plan for such schemes to get back on track within a defined period of time. The TSAA along with the other trade unions have been negotiating such a funding plan with the company so as to ensure that the long-term viability of the schemes is secured.

The TSSA believe that the Workplace Relations Commission proposals on pensions are the optimum that can be achieved through the negotiating process and can (if accepted) provide a reasonable approach to securing the long-term retirement benefits for all members of both Schemes.

It will now be for members to decide via a ballot. First we will be holding Nationwide meetings on the Workplace Relations commission proposals. Meetings details below

Finally, the Ballot on the WRC proposal/s, for all constituent Trade Union members will be conducted along similar lines as to that of the Worker Director Elections and is envisaged to be completed by the 28th February 2020.

Venues for upcoming Union meetings

 

Sligo/Donegal

January 16th Ballybofey Jackson Hotel 12noon

January 16th Sligo Park Hotel 19.00pm

Galway

17th January Galmont Hotel Galway 1pm

Athlone

20th January Athlone Prince of Wales Hotel – 2pm

Cavan

20th January Cavan Crystal Hotel – 7pm

Limerick

21st January Limerick Strand Hotel – 1pm and 7pm

Cork

22nd January Clayton Hotel Cork – 11am and 7pm

Waterford

23rd January Tower Hotel Waterford 19.00pm

Dublin

27th & 28th January – Gresham Hotel – 10.30am, 1pm, 7pm

Drogheda

29th January – The D Hotel – 7pm

 

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