Dáil debates

Wednesday, 29 April 2015

Other Questions

Irish Airlines Superannuation Scheme

10:10 am

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

As part of this process, both companies contributed €260 million to the resolution of this matter. A total of €190.7 million came from Aer Lingus while €72 million came from the DAA. Out of the €260 million, €60 million went into dealing with matters raised by deferees. This was an increase of €20 million as a result of the expert panel process.

The Deputy asked me whether additional funding had been provided as a result of the latest part of the process and referred to €7 million. The answer is that new money was not found. I am not familiar with where the figure of €7 million comes from but perhaps the Deputy might give the background to it. What I do know is that the expert panel report and determination did refer to a figure of up to €5 million for transition measures for the airport fire and police service and €0.85 million for dealing with the resolution of the ARSSS fund. I have always said that I appreciate and have first-hand experience of the huge anguish and worry being caused by this matter but if I had not made the decision I made, an entire fund could have been plunged into huge risk.

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