The CIÉ Group and its Trade Union Group (TUG) have reached an agreement regarding pension schemes for current and former employees, offering a significant boost for eligible pensioners.
Under the proposal, pensioners within the CIÉ schemes could see increases of up to 5%, while all promised benefits for scheme members will be preserved. The CIÉ Group, which encompasses Irish Rail, Dublin Bus, and Bus Éireann, emphasized the importance of balancing financial sustainability with the need to support pensioners.
A consultation process involving all stakeholders will begin in the coming weeks, with a formal ballot to be held by the TUG to approve the proposals.
CIÉ highlighted the months of intensive negotiations with the Trade Union Group, aiming to address the company’s concerns over the long-term sustainability and risks associated with the pension schemes. At the same time, the talks focused on TUG’s insistence that accrued and future benefits for scheme members remain intact.
“Both CIÉ and the TUG shared the aim of providing a long overdue increase for eligible CIÉ pensioners,” the company stated.
The announcement follows growing pressure from retired employees. In October 2024, former CIÉ staff protested at Dublin’s Heuston Station, calling for pension increases after nearly two decades without a rise.
Before the 2008 economic crash, pension increases had traditionally matched pay rises granted to active staff on a pro-rata basis. Although pay increases were restored in 2016 for current employees, pensioners have yet to see any adjustment for 17 years.
Many pensioners also face an additional challenge: having paid PRSI contributions at a lower rate, they do not qualify for the State pension and its associated benefits, increasing their financial vulnerability.
The forthcoming consultation and ballot will be closely watched by thousands of current and former CIÉ employees as they await the outcome of this crucial development in their pensions.
