Dáil Éireann Debate, Tuesday - 3 November 2015
1188. Deputy Róisín Shortall asked the Minister for Transport, Tourism and Sport his plans to use the connectivity fund arising from the sale of Aer Lingus to compensate deferred Aer Lingus pensioners for the huge loss of income arising from forced changes to their pension scheme. [38246/15]
Amharc ar fhreagraAn agreed solution was implemented to address the IASS pension funding problems at the beginning of this year. The solution that has been implemented is a matter for the pension scheme trustee, the companies participating in the scheme, the scheme members and the Pensions Authority.
The IASS trustee has confirmed that these measures are in the overall best interest of the members of the IASS as a whole and are fully compliant with National and EU law. I am very conscious that the agreed solution has a significant impact on many members of the scheme. The outcome although not ideal, was preferable to the alternatives, including the wind up of the scheme. As this issue is now the subject of legal proceedings, it would be inappropriate for me to comment any further on the matter.
Under the agreed solution the total contribution proposed by the IASS employers aimed at resolving the IASS difficulties amounts to over €260m. I have previously made it clear that there is no question of Exchequer funding being made available to supplement the agreed Aer Lingus pension funding solution that is in place.
