Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

First, I again make it clear that the IASS and its funding are primarily matters for the trustees, the companies participating in the scheme, the scheme members and the Pensions Authority. At the request of my Department and the Department of Jobs, Enterprise and Innovation, the expert panel recently re-engaged with the unions to provide clarification on a number of issues arising from its original report of June 2014. The expert panel issued its final determination on 9 March 2015.

There is no change in the capital sums being provided by the companies as outlined in the expert panel report of June 2014. Specifically, the final determination states that:

The Expert Panel has determined that no alteration to its recommendations in its original Report is necessary. In effect this means that the benefits described in that Report continue to apply as a minimum. The Expert Panel has established some scope to address the redistribution of part of the capital sum recommended for active members so as to address concerns raised and to enhance the position of those who are: (i) closest to retirement and (ii) most impacted by the contribution rates applicable to the lower paid.

I was pleased to note the very positive outcome of the recent ballot in DAA-Shannon Airport. As a result, the IASS issues can be resolved once and for all and staff in Aer Lingus, DAA and Shannon Airport Authority will finally have clarity and certainty about their future pension arrangements. I hope this sentiment is shared by the Deputy.

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