An agreement has been reached between the CIÉ Group and the company’s Trade Union Group (TUG) in relation to both of CIÉ’s pension schemes.
Under the proposals, eligible CIÉ pensioners would receive an increase of up to 5%.
Promised benefits for all members of CIÉ pension schemes would also be maintained.
A consultation process with all stakeholders will take place in the coming weeks, followed by a ballot on the proposal, which will be undertaken by the TUG.
The CIÉ Group includes Irish Rail, Dublin Bus and Bus Éireann.
“CIÉ Group has been engaged in intensive negotiations with the TUG for several months in relation to both CIÉ pension schemes,” CIÉ said in a statement.
“The talks centered on the concerns of CIÉ regarding the inherent risk and sustainability of both schemes, whilst also addressing the TUG agenda that there is no change to the accrued and future benefits of current members,” the company said.
“Both CIÉ and the TUG shared the aim of providing a long overdue increase for eligible CIÉ pensioners,” it added.
In October 2024, former CIÉ employees staged a protest at Heuston Station in Dublin calling on the company to increase their pensions.
Before the economic crash in 2008, CIÉ matched pay increases granted to staff with pro-rata pension increases to its retired employees.
Pay increases for staff were restored in 2016, but pensioners have not received an increase in 17 years.
They also paid PRSI at the lower rate meaning they do not receive the State pension and the benefits that flow from it.
Minister for Transport Darragh O’Brien said he welcomes the constructive engagement between unions and CIÉ management.
“It’s a strong example of proactive and inclusive dialogue that prioritises long-term outcomes for employees and pensioners alike,” Mr O’Brien said.
“I’d like to thank all parties involved for their positive engagements,” he added.
