Staff working for the CIÃ group of transport companies have voted to accept proposals recommended by the Labour Court to deal with a major deficit in its pension scheme that covers managerial and administrative grades.
The proposals were accepted by 56 per cent to 44 per cent in a ballot of trade unions members . The result of the ballot was announced on Wednesday.
The so-called 1951 scheme in the transport group is understood to have a deficit of about â¬550 million.
The Irish Times reported last week that the Pensions Authority had warned it could wind up the scheme or reduce benefits, unless steps are taken within the next few weeks to address a financial deficit.