I have no formal function in relation to the resolution of the funding difficulties of the Irish Aviation Superannuation Scheme. This is primarily a matter for the trustees, the members of the scheme, the companies participating in the scheme and the regulator of such pension schemes - the Pensions Authority.
An Expert Panel was appointed on 3 March following consultations between my Department and the Department of Jobs, Enterprise and Innovation with Ibec and ICTU. The Panel was asked to carry out an investigation of how a final resolution of the industrial relations issues with the IAS Scheme can be secured. On Monday last, the Panel made a preliminary report to the two Departments, Ibec and ICTU.
The Panel has held a series of meetings with all the relevant parties and has identified a number of critical issues that it believes should now be jointly explored, so as to deepen its understanding of the scope for progress between the parties. Intensive discussions on these issues are already underway and the Panel will report back by 14 April.
As I have stated repeatedly, there will need to be burden sharing between the parties, with contributions being made by the members of the scheme and the companies.