Dáil Éireann Debate, Thursday - 26 June 2014
24. Deputy Clare Daly asked the Minister for Transport, Tourism and Sport if he has made a decision in his position as a shareholder in relation to the recommendations of the expert panel convened to deal with the IASS pension deficit. [27338/14]
View answerI welcomed the report of the Expert Panel that was published on 16 June. It has been clear for a long time that any solution to this issue will require significant contributions from both the employers and the members of the scheme. The Panel’s task was to identify the fairest way to distribute the burden, while addressing a range of other impediments. I have urged all parties to the scheme to give the report very careful consideration, use its recommendations as the basis for timely constructive engagement, and achieve a resolution in the best interests of all parties. This represents the last best chance to resolve this long-standing problem and to give the scheme members certainty about their future pension entitlements.
Aer Lingus has stated that it is reviewing the recommendations of the report and it will issue a further announcement to shareholders in due course. The company has made it clear that any proposal to address the deficit in the IAS scheme would be subject to shareholder approval. However, there are a number of steps to be completed before the matter is put to shareholders. I would in principle be in favour of a proposal put to the shareholders based on the recommendations of the Expert Panel Report. However, a final decision would have to await consideration of the company's proposal to shareholders and consultation with my Cabinet colleagues.
