Dáil Éireann Debate, Wednesday - 7 May 2014
219. Deputy Terence Flanagan asked the Minister for Transport, Tourism and Sport his views on correspondence, details supplied, regarding Aer Lingus pensions and if he will make a statement on the matter. [20470/14]
View answerAs Minister for Transport Tourism and Sport I have no function in relation to the administration of the Irish Airlines Superannuation Scheme (IASS). The resolution of the funding difficulties in the scheme 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 (formerly the Pensions Board). Pension schemes are closely regulated under Irish and European pension law and the Pensions Authority is the statutory regulator in Ireland. There are prescribed procedures and limitations in place governing any reductions in pension rights introduced to address funding difficulties in a scheme such as the IASS. Policy in this regard is primarily a matter for the Minister for Social Protection, Ms Joan Burton T.D.
The trustees of the IASS announced in February last that they had decided in principle on a number of changes to address the funding difficulties of the scheme. The trustees, who are central to any solution to the funding difficulties, are required by law to act in the best interests of all members, be they active, deferred or pensioner members. Following consultations between my Department, the Department of Jobs, Enterprise and Innovation, IBEC and ICTU, an Expert Panel has been established to carry out an urgent investigation of how the industrial relations issues relating to the scheme could be resolved. The Panel recently gave an update to the Departments on its progress to date and confirmed that it had met with representatives of all the key stakeholders, including pensioners and deferred pensioners. The Panel are due to report again in early May.
