Noel Ahern (Dublin North West, Fianna Fail)
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Question 127: To ask the Minister for Transport if he will report on the condition of the Dublin Airport Authority pension fund; if any proposal has been submitted by DAA for approval; if his attention has been drawn to the perceived doubtful status of the fund, the fact that pensioners have got no increase for three years and the need for a lump sum injection into the fund; and if he will make a statement on the matter. [22548/10]

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 (DAA) is a minority company participant in the scheme. Pension entitlements and pensions in payment under this scheme are primarily matters for the Trustees, the members of the scheme and the companies participating in the scheme. Pension increases are at the discretion of the trustees.

During 2008, the DAA reached agreement with the trade unions representing the majority of staff to establish, subject to the approval of the Ministers for Transport and Finance, certain additional pension arrangements independent of the existing scheme. The two Ministers gave approval in principle to the proposed new pension arrangements in 2009. These proposals would involve an additional DAA scheme to provide enhanced benefits for existing and retired members of the IASS and the establishment of a new hybrid (part defined benefit/part defined contribution) scheme for new recruits.

I am aware of major issues with regard to the asset values of this fund. These are highlighted in the DAA's annual report for 2009. Funding matters, in the first instance, are matters for the Trustees of the Scheme who are preparing funding proposals as required under Pension legislation.