Date Released: 26 November 2015
SIPTU supports a decision by the CIE Group of Unions to engage an independent pensions expert to undertake a full examination of the CIE Group Pension Scheme.
SIPTU Organiser, Paul Cullen, said: “The CIE Group of Unions today (Thursday, 26th November) met with management to discuss media reports concerning the funding of the pension scheme. At this meeting trade union representatives were critical of management with regard to its failure to consult with the unions concerning the possible impact of new minimum funding standard proposals on the scheme.
“Following these media reports a number of members contacted their unions deeply concerned about the future of the scheme. Due to this, and the fact that the actuarial figures relating to the pension scheme do not correspond with what is being reported in the media, the Group of Unions has decided to engage an independent pensions expert to undertake an examination of the scheme and its funding mechanisms.”
The CIE Group of Unions includes representatives of SIPTU, the TEEU, TSSA, NBRU and Unite.