Finian McGrath (Dublin North Central, Independent)
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229. To ask the Minister for Social Protection her views on correspondence (details supplied) regarding the Irish airlines superannuation scheme; and if she will make a statement on the matter. [42012/14]

Joan Burton (Dublin West, Labour)
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I am very aware of the development in the IAS scheme and of the very significant efforts being made to find a sustainable solution to the issues arising in this scheme. However, it would not be appropriate to comment on matters arising in a particular pension scheme as these are matters for the employer and the trustee of the pension scheme

The Pensions Act provides a framework for the regulation and supervision of occupational pension schemes. A number of changes have been made to the Pensions Act in recent years to assist employers and trustees respond to the funding difficulties encountered by many pension schemes. As you are aware the Pensions Act was amended in 2009 and again in 2013 to broaden the options available to trustees of pension scheme in the context of a restructure of scheme benefits. These changes provided for the sharing of the risk of underfunding in a scheme across all scheme members. The manner in which these options are exercised is a matter for the trustees of a scheme who are required under trust law to act in the best interest of scheme members and beneficiaries.

I can certainly appreciate the difficulties presented to all stakeholders in addressing the significant deficit in this scheme and the desirability to achieve a sustainable pension solution for all members and beneficiaries. It is not planned to bring forward further changes to the Pensions Act at this time.