Destruction of Airport Pension Scheme is reprehensible

                                  Fingal TD raises issue in Dáil with An Taoiseach
Local TD, Darragh O’Brien has accused the Government of once again letting down the 15,000 Dublin airport pension scheme members.

Speaking in the Dáil on the issue earlier this week, Deputy O’Brien said, “As a result of the Social Welfare and Pensions Act 2013 and the State Airports (Shannon Group) Act 2014, the airport pension scheme, the Irish airlines superannuation scheme, IASS, retired members lost six weeks of their pension and long-serving deferred members lost up to 60% of their entitlements.

"Every major employer in this country with a sizeable pension scheme, particularly those with defined benefit schemes, have been faciliated by Government policy to run the scheme down and pull the rug out from under members who have paid in.

“Employers are ensuring that these schemes fail and they have been provided with a roadmap to do it.

“The destruction of the IAS pension scheme in which 15,000 members were removed from the pension scheme unilaterally was aided and abetted by the last Government,” he added.

“The private pension levy that took €2.6 billion out of people's savings and provisions for their retirement has done more to undermine pension provision in this country. Furthermore, it set a precedent for other employers of profitable firms to wind down their pension schemes and reduce pension scheme benefits. 

“The Government must amend the Pensions Act 1990 to provide the protections that are required. Thousands of other workers will be affected in addition to the 15,000 active, retired and deferred pensioners in the IASS unless there is action on this issue.

“Minister Leo Varadkar must put forward specific pension legislation to provide the protection that his party removed from pension scheme members during the lifetime of the last Dáil.

“The massive ramifications faced by 15,000 families across the country must not be inflicted on more pension scheme members. More action is needed to guarantee that this absurd policy will not similarly impact tens of thousands of others,”