Irish Airlines Superannuation Scheme

Dáil Éireann Debate, Wednesday - 23 September 2015

Wednesday, 23 September 2015

Ceisteanna (20)

Clare Daly

Ceist:

20. Deputy Clare Daly asked the Minister for Transport, Tourism and Sport if he or his officials have been briefed or have been party to any formal or informal meetings with either trade unions or the management of the Dublin Airport Authority regarding problems with the newly established defined contribution pension scheme following the closure of the Irish airlines superannuation scheme, a process in which his Department had been involved; and if he will make a statement on the matter. [31810/15]

Freagraí scríofa

Minister for Transport, Tourism and Sport

In accordance with Section 32(1) of the Air Navigation and Transport (Amendment) Act 1998 (as amended), my Department conveyed my approval, with consent from the Minister of Public Expenditure and Reform, to daa for the establishment of a new defined contribution scheme.

My Department receives periodic briefings from daa and these sometimes include matters in relation to pensions. My officials were informed of some challenges that the Trustee Board is encountering in concluding the required standard procurement processes for an investment adviser to the trustees which has regrettably delayed the selection of new investment strategies and funds.  I understand that the Trustee is working with daa and the unions to resolve this matter.

Ultimately, the resolution of any issues in relation to the scheme referred to by the Deputy is a matter for the Trustees, daa and the scheme members.