Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance if all current employees of Allied Irish Bank have now been transferred to a new defined contribution scheme; and if he will make a statement on the matter. [49042/12]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the bank that staff were advised on the 14th June 2012 of its intention to close the defined benefit schemes to future accrual. Following this announcement the bank commenced a consultation process with unions representing staff in line with agreed procedures. It is currently anticipated that agreement with the unions will be in place before the end of 2012.

Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance further to Parliamentary Question No. 52 of 24 October 2012, if he considered requesting the bank to make a section 50 application to the Pension Board to reduce the benefits payable to retired chief executive and other returned senior executives of the bank as part of the transfer of assets into the pension scheme to meet the new funding requirements; and if he will make a statement on the matter. [49043/12]

Michael Noonan (Limerick City, Fine Gael)
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AIB has informed me that it understands that an application under section 50 would not apply to pensions already in payment.