Richard Bruton (Dublin North Central, Fine Gael)
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Question 177: To ask the Minister for Transport the funding deficit in the Aer Rianta pension fund; if he has discussed this with the company; and if it is his intention to promote measures that would strengthen the fund so it could meet its long-term liabilities. [43005/08]

Noel Dempsey (Meath West, Fianna Fail)
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The Irish Airlines (General Employees) Superannuation Scheme is a multi-employer scheme in which the Dublin Airport Authority, Aer Lingus and SR Technics participate. Pension entitlements under this scheme are primarily matters for the Trustees, the members of the scheme and the companies participating in the scheme. The Scheme's actuary carries out an actuarial valuation generally every three years. An actuarial valuation of the IAS scheme was carried out as of 31st March 2005. This showed that on an ongoing basis the actuarial valuation of the assets of the IAS was sufficient to cover the accrued liabilities under the actuarial assumptions made at that time. The IAS scheme also satisfied the statutory and funding standard at that time.

I understand that a further actuarial valuation has been carried out this year and that the trustees and the actuary of the Scheme are currently in the process of finalising the annual accounts and the Scheme actuarial valuation. It would not, therefore, be appropriate for me to comment at this stage, other than to say that I am advised that the funding position is constantly under review.