Dáil Éireann Debate, Tuesday - 30 September 2014
633. Deputy Terence Flanagan asked the Minister for Transport, Tourism and Sport if the deferred members of the pension fund in Aer Lingus will be put under the protection of the Social Welfare and Pensions Act 2013; and if he will make a statement on the matter. [37111/14]
Amharc ar fhreagraResolution of the funding difficulties of the IASS is primarily a matter for the Trustee, the companies participating in the scheme, the scheme’s members and the Pensions Authority. The process currently underway involves all these stakeholders.
Pension schemes are closely regulated under Irish and European pension law and the Pensions Authority is the national statutory regulatory authority in Ireland. There are prescribed protections, procedures and limitations in place governing any reductions in pension rights introduced to address funding difficulties in a scheme such as the IASS. Legislation in this area including, the Social Welfare and Pensions Act 2013, is a matter for my colleague the Tánaiste and Minister for Social Protection.
