Dáil Éireann Debate, Tuesday - 22 March 2016
592. Deputy Finian McGrath asked the Minister for Transport, Tourism and Sport the status of the Irish Airlines Superannuation Scheme Pension (details supplied); and if he will make a statement on the matter. [5255/16]
View answerThe funding solution proposed by the trustee of the Irish Airlines (General Employees) Superannuation Scheme (IASS) was approved by the Pensions Authority and was implemented in December 2014. The IASS trustee made it clear that it considered that solution to be in the overall best interest of the members of the IASS as a whole and fully compliant with national and EU law. Under that funding solution, the total contribution by the IASS employers, including Aer Lingus, towards resolving the IASS difficulties amounted to over €260 million.
I am also conscious that the outcome, although not ideal, was preferable to the alternatives, including the wind up of the Scheme.
