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Eircom Plc Superannuation Scheme
The Eircom Plc Superannuation Scheme is the legacy defined-benefit pension vehicle for employees of eir, Ireland's former state-owned telecoms operator.
Eircom Plc Superannuation Scheme
The Eircom Plc Superannuation Scheme is the legacy defined-benefit pension vehicle for employees of eir, Ireland's former state-owned telecoms operator. The fund is structured as a traditional corporate pension trust, managed by a board of trustees currently chaired by Ray Lawlor, with Brian Duncan serving as former chairman. Its fiduciary duty runs to retired and deferred members of the eir workforce, and it operates under the regulatory oversight of Ireland's Pensions Authority, with the Minister for Finance holding a formal role in the funding and oversight of a related No. 2 Fund. The scheme deploys capital across a deliberately diversified set of asset classes. Direct and indirect property holdings form a visible anchor: known positions include The Retail Park at Liffey Valley in Dublin, a stake in the Irish Property Unit Trust (IPUT), and participation in a European Property Fund (PEPLP). Alongside real estate, the fund holds a position in the Irish Forestry Unit Trust, reflecting a long-duration, inflation-linked allocation to Irish land. These hard-asset exposures sit within a broader strategy that also makes commitments to venture capital and private equity funds, indicating a total-portfolio approach that blends domestic tangible assets with return-seeking private market exposures. The geographic center of gravity is Ireland, but the PEPLP commitment extends the footprint into continental European commercial property. The trustee board engages actively with the Irish institutional investment community. The scheme is a member of the Irish Association of Pension Funds (IAPF) and participates regularly in industry conferences and seminars. This peer-group engagement and the fund's multi-asset mandate suggest an allocation model that combines internal trustee governance with external fund manager selection across real estate, forestry, and private capital. The scheme's structural differentiator is its dual character as a legacy corporate pension fund for a formerly state-owned enterprise. Unlike a typical corporate DB plan in wind-down, this fund maintains an active investment posture — directly holding physical real estate and forestry assets in Ireland while also accessing venture capital. The formal involvement of the Minister for Finance in the related No. 2 Fund adds a layer of sovereign proximity unusual for a corporate pension scheme.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
Ireland
City
Dublin
Corporate office
Dublin, Ireland
Principals
Ray Lawlor
Chairman of the Trustees
Brian Duncan
Former Chairman of the Trustees
Sector focus
Frequently asked questions
Who runs investment decisions at Eircom Plc Superannuation Scheme?
A board of trustees, chaired by Ray Lawlor, governs the scheme and is responsible for investment decisions. Brian Duncan previously served as chairman of the trustees. The trustees operate within the regulatory framework of Ireland's Pensions Authority and manage allocations across property, forestry, and private market funds.
What direct property assets does the scheme hold?
Known direct and indirect property holdings include The Retail Park at Liffey Valley in Dublin, a stake in the Irish Property Unit Trust (IPUT), and participation in a European Property Fund (PEPLP). These holdings anchor a material real estate allocation within the broader portfolio.
Is Eircom Plc Superannuation Scheme still open to new members?
The scheme is a legacy defined-benefit plan for employees of eir, the former state-owned telecoms operator. As a corporate DB scheme, it is typically closed to new accruals or new members, but the specific status of the plan's closure and any ongoing obligations would be confirmed in the scheme's annual report and funding statements filed with Ireland's Pensions Authority.
How is the scheme related to the Irish government?
The Minister for Finance holds a formal role in the funding and regulatory oversight of a related No. 2 Fund associated with the scheme. This creates a layer of sovereign proximity that is unusual for a standard corporate pension trust and ties the scheme's governance, in part, to the Irish state.
What is the scheme's exposure to venture capital?
The scheme's investment strategy includes commitments to venture capital and private equity funds, sitting alongside its direct real estate and forestry holdings. This indicates a total-portfolio approach that blends domestic tangible assets with return-seeking private market fund commitments, though specific fund names are not publicly disclosed.
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