Dáil Éireann Debate, Tuesday - 17 June 2014
784. Deputy Finian McGrath asked the Minister for Transport, Tourism and Sport the position regarding the Irish airlines superannuation scheme in respect of the report compiled by the expert panel (details supplied); and if he will make a statement on the matter. [26133/14]
View answerResolution of the funding difficulties in the Irish Airlines Superannuation Scheme (IASS), where there is a deficit of over €760m, is primarily a matter for the Trustees, the companies participating in the scheme, the scheme's members and the Pensions Board. The deficit in the scheme has arisen over the years as the companies and the members did not put enough into it to match the benefits that were expected. The problems with this scheme have long been recognised and an opportunity now exists to resolve them.
The Expert Panel established by the Department of Transport, Tourism and Sport, the Department of Jobs, Enterprise and Innovation, IBEC and ICTU to find a solution to the industrial relations issues relating to the IASS, presented its report on 16 June. During its investigations, the Panel met with all the parties involved, including the deferred pensioners. The report has been published on my Department's website. I welcome the Expert Panel's report and urge all parties to give the report very careful consideration. The report's recommendations can be used by the parties as the basis for constructive engagement and to achieve a resolution in the best interests of all. The Expert Panel has stated that it considers that its recommendations represent the best possible outcome that can be achieved. While some of the decisions that will be required will be challenging, the report presents a final opportunity to bring this issue to a conclusion in a fair manner.
For the Deputy's information, the Expert Panel met with the Deferred IASS Action Group on two separate occasions. Neither occasion was the day before the findings were issued.
