Peter Barry
Question:24 Mr. Barry asked the Minister for Tourism, Transport and Communications the arrangements she has made to ensure the continuity of pensions now that the B & I has been sold to Irish Continental Ferries.
Written Answers. - B & I Line Pensions Continuity.
Continuity of pensions in B & I Line plc is provided for in section 6 (1) of the B & I Line Act, 1991, which states as follows:
If the Minister disposes of the shares of the Company held by him, every person who immediately before the disposal date of the shares was an employee of the Company, shall, on the disposal date, enjoy the same rights (including rights under a pension scheme of the Company) and be subject to the same obligations as he enjoyed and was subject to immediately before the disposal date.
This provision was included in the legislation by my predecessor following negotiations with and the agreement of the Irish Congress of Trade Unions and the B & I Group of Unions.
In addition to the above, Irish Continental Group plc gave a firm undertaking prior to completion of the sale that they would abide fully by the terms of the current trust deeds and rules of the B & I pension schemes as disclosed to them during their due diligence exercise on the company.