By Éimear Stockmann
A group of CIE pensioners held a protest against the pension stagnation at Galway Ceannt Station on Monday 26 January.
The CIE pensions have been frozen at the same rate since 2008. An estimated 2,000 former staff are affected by the stagnation.
The 2008 financial crisis caused the company to freeze pension payments, as well as freezing wage increases to active staff.
Wage increases were restored in 2016, but the pensions remain frozen eighteen years later.
The CIE board and CIE Salaried Pensioners’ Association has reached a stalemate. The most recent offer grants a pensioners increase only to those who retired before 2023.
Gerry Glynn worked for Irish Rail for 38 years and has been retired for almost 14 years. He was one of the pensioners who travelled to Galway to attend the protest.
“We paid our pension contributions all through our working lives, and it was guaranteed that the pensions would be aligned with pay increases for active staff,” Mr Glynn said.
He said the company had argued during the recession, that the pension scheme was underfunded.
“It may have been true at the time because of what was happening globally with the financial crisis, but it has been independently verified in recent years that the scheme is now fully funded,” he said. “There is no justification for refusing to grant a pension increase any longer.”
Former Mayor of Galway Martin Quinn organised the protest. Mr Glynn said the protesters were received by TD John Connolly at his office, where they handed in a letter calling on the transport and finance ministers to increase the pensions.
“He was very sympathetic to our case, and I have to compliment him that he met as many people as he could and spoke very genuinely. We firmly believe that we have his ear, and his support.”
He said it remained to be seen whether the protests will prove successful.
“The company, the Department of Transport, and Department of Public Enterprise seem to be playing pass-the-parcel with it at the moment,” Mr Glynn said.
Galway Pulse has sought a statement from CIE and is awaiting a response.