Dáil Éireann Debate, Tuesday - 14 July 2015
919. Deputy Finian McGrath asked the Minister for Transport, Tourism and Sport if he will support the deferred Irish airlines (general employees) superannuation scheme pensioners before the Aer Lingus extraordinary general meeting on 16 July 2015. [28486/15]
View answerThe purpose of the Aer Lingus EGM to be held on 16 July 2015 is to seek shareholder approval for a number of resolutions linked to IAG's takeover offer for Aer Lingus. The EGM has no bearing on Aer Lingus pension arrangements. An agreed solution was implemented at the start of this year to address the funding difficulties in the Irish Airlines (General Employees) Superannuation Scheme (IASS). This agreed solution is a matter for the Trustee, the companies participating in the scheme, the scheme members and the Pensions Authority.
This solution was put in place following prolonged efforts by all concerned to find the fairest way to distribute the burden, while addressing a range of other impediments. The solution was based on the recommendations of an Expert Panel established by my Department, along with the Department of Jobs, Enterprise and Innovation, IBEC and ICTU. The agreed solution includes a further €20m to the €40m already being made available for deferred members, bringing the full amount for this group to €60m.
