Dáil Éireann Debate, Wednesday - 21 October 2015
46. Deputy Thomas P. Broughan asked the Tánaiste and Minister for Social Protection the measures she is taking to restore moneys to Irish airlines (general employees) superannuation scheme pensions; and if she will make a statement on the matter. [36708/15]
View answerI am very aware of the issues and negative consequences arising from the funding difficulties in this scheme.
A number of legislative changes have been put in place in recent years to assist employers and trustees in responding to funding difficulties encountered by pension schemes. As you are aware the Pensions Act was amended in 2009 and again in 2013 to broaden the options available to trustees of pension schemes in the context of a restructuring of scheme benefits. These changes provide for the sharing of the risk of underfunding in a scheme across all scheme members. The manner in which these options are exercised is a matter for the trustees of a scheme who are required by law to act in the best interest of scheme members and beneficiaries.
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 schemes, the scheme members and the Pensions Authority.
