PENSIONS VOTE OVER IASS LACK OF PROGRESS
Thursday 12 July 2012, 07pm
Talks aimed at resolving difficulties over the Irish Aviation Superannuation Scheme have been adjourned at the Labour Relations Commission after 6 months of negotiations.
It is understood that actuaries working for the group of unions have examined a proposal tables jointly by the Dublin Airport Authority and Aer Lingus. They have since presented their observations to the Unions. Despite this there has been very little movement to address the obvious difficulties in the proposal.
As a result the Unions have started a ballot for Industrial Action both at the DAA and Aer Lingus over what Divisional Organiser Brendan O Hanlon described as "serious lack of progress on the issues identified"
Information meetings were held at the three airports, Dublin Cork and Shannon after each union, including Mandate commenced a ballot for Industrial Action.
The recent announcement from the Pensions Regulator about minimum funding standards for Defined Benefit Pension Schemes added to the pressure to resolve the issue regarding benefits accured to date and for future pension arrangements.
However Mr. O Hanlon emphasised that Unions would not allow either the company to use the deadlines set down by the regulator to "rush the process" and conclude an agreement that could see members lose "significant parts of their entitlements or alternatively trigger the pension trustees into making adjustments"
Mandate has called on both companies to engage meaningfully with a view to securing benefits accrued to date and agreeing a pension scheme that actually delivers a meaningful pension for its members during their retirement.