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Court directions sought over CIÉ pension scheme deficit

Industry and Employment Correspondent The trustees of a CIÉ Group pension scheme which is hundreds of millions of euro in deficit are to ask the High Court for directions on how much the company must pay to plug the funding gap, RTÉ News has learned. However, CIÉ has rejected suggestions that it alone is responsible for making up a shortfall of almost €800 million for the two schemes covering 10,000 workers in Irish Rail, Dublin Bus and Bus Éireann. The company says proposed reforms which would see most staff working and contributing to the scheme for longer are essential to preserve the retirement benefits of the staff.

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