I propose to take Questions Nos. 39 and 43 together.
The Deputy will be aware that AIB, as part of its announcement of 8th March 2012 of a voluntary severance programme, stated "as required under the bank's partnership principles with IBOA, a consultation process will begin immediately with trade union representatives." It went on to state that "AIB will not be making any further public comment until the consultation process with staff representatives is concluded." Accordingly, the Deputy will appreciate that it would not be appropriate for me to comment on the issues raised by him in his questions. Any issues concerning the AIB pension fund will have to comply with any relevant regulatory and legal requirements.
I am informed by AIB that the occupational pension schemes operated by them are a mixture of defined benefit and defined contribution schemes with the relevant pension benefit being in the main determined, for the most part, by when a member joined the respective scheme.