Commercial Semi-State Bodies are responsible for the provision of pension schemes for their employees. The terms of those schemes are defined in the relevant Trust Deeds and Rules of the specific schemes and are not standardised across the various CSSBs.
CSSBs operate a range of Defined Contribution and Defined Benefit schemes. Defined Benefit Schemes in CSSBs are generally closed to new members, with new employees joining the relevant Defined Contribution scheme operated by their employer.
Any queries in relation to CSSB pension schemes should be directed to the relevant CSSB in the first instance or, where appropriate, to the line department under whose aegis the CSSB sits.
In accordance with the Code of Practice for the Governance of State Bodies 2016, as amended by Circular 16/2021, any changes to pension scheme benefits (such as pension increases) are subject to ministerial consent.
When a CSSB proposes a pension increase they must first submit a request to the relevant line minister, through the line department for that body. If the relevant line minister grants approval for the increase, the consent of the minister for the Department of Public Expenditure, NDP Delivery and Reform will then be sought by the line department.
Pension increases are subject to conditions set out in the rules and deeds of each CSSB’s pension scheme, and can vary from scheme to scheme. For example, some CSSB pension schemes provide for a discretionary increase in a given year of the rate of inflation, as measured by the Consumer Price Index, or 2% - whichever is lower.
Amendments to pension schemes operated by CSSBs are subject to ministerial consent.
The New Economy and Recovery Authority (NewERA) provides financial and commercial advice to ministers and departments in relation to State companies across a range of sectors.
The companies that are designated to NewERA include: An Post, Bord na Móna, CIÉ (including Bus Átha Cliath, Bus Éireann and Iarnród Éireann), Coillte, daa plc, Dublin Port Company, EirGrid plc, Ervia (including Gas Networks Ireland), ESB, Irish Aviation Authority, Irish Water, Port of Cork Company, Port of Waterford, Shannon Foynes Port Company and Shannon Group plc. NewERA also provides ongoing financial and commercial in relation to the Land Development Agency, RTÉ and Vhi.
Where a CSSB proposes to amend a pension scheme operated by them, or an amendment to pension benefits is sought, a report reviewing the proposal put forward will be prepared by NewERA to advise the relevant ministers.
Disputes and pension appeals in CSSBs will be handled by the relevant body through their internal dispute resolution process.
In some limited cases, a pension scheme operated by a CSSB may allow for an appeal to be submitted to the Minister for the Department of Public Expenditure, NDP Delivery and Reform for determination. Such appeals must go through the relevant employer’s internal dispute resolution process, prior to being submitted to the Department of Public Expenditure, NDP Delivery and Reform.
Code of Practice for the Governance of State Bodies
Circular 16/2021 - Code of Practice for the Governance of State Bodies Amendments to the Annex on Remuneration and Superannuation
