Public Transport

Bridging funding gap in pension scheme would put CIÉ at risk, warns chief

National transport company’s bitterly disputed 1951 Superannuation Scheme has a €200 million deficit

Lorcan O'Connor, chief executive of CIÉ: told the Business Post that the company cannot afford to bridge the funding gap in its 1951 Superannuation Scheme. Picture: Tony O'Shea

The head of CIÉ, which runs Irish Rail, Bus Éireann and Dublin Bus, has said the company “could not continue to operate” if the High Court concludes that it must make up the shortfall in one of its pension schemes.

Lorcan O’Connor, the group chief executive of CIÉ, told the Business Post that the company cannot afford to bridge the funding gap in its 1951 Superannuation Scheme, which is the subject of a bitter and ...