Dáil Éireann Debate, Wednesday - 24 June 2015
17. Deputy Clare Daly asked the Tánaiste and Minister for Social Protection whether she has had any meetings or discussions with the Department of Transport, Tourism and Sport in relation to securing a percentage of the proceeds of the sale of the State's shareholding in Aer Lingus to offset some of the financial hardship being experienced by existing and deferred members of the Irish Airlines (General Employees) Superannuation Scheme. [24630/15]
View answerI am very aware of the issues and negative consequences arising from the funding difficulties in this scheme. Indeed, many defined benefit pension schemes have encountered funding difficulties in recent years and are working with the Pensions Authority to respond to those difficulties in a manner which will secure the sustainability of pension provision for scheme members.
A number of legislative changes have been put in place in recent years to assist employers and the trustees of pension scheme respond to the funding difficulties encountered by some schemes. You will appreciate that it is not appropriate for me to comment on matters arising in a particular scheme as these are primarily a matter for the Trustees of the scheme, the companies participating in the scheme, the scheme members and the Pensions Authority.
The sale of the Aer Lingus shareholding was approved by Government on 27 May. The proceeds from any sale of the State's shareholding in Aer Lingus would be payable directly to the Central Fund and the use of such funds is a budgetary decision for the Minister for Finance and Minister for Public Expenditure and Reform.
