IASS Pension Scheme PQ Responses

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QUESTION NO:  817 
DÁIL QUESTION addressed to the Minister for Transport, Tourism and Sport (Deputy Shane Ross)
by Deputy Darragh O'Brien
for WRITTEN ANSWER on 21/07/2016  



Dáil Question
No: 817

​To ask the Minister for Transport, Tourism and Sport if he is aware of the substantial cuts imposed on members of the IASS Pension Scheme in advance of the sale of the State's stake in Aer Lingus; and if he will make a statement on the matter.
- Darragh O'Brien.

*    For WRITTEN answer on Thursday, 21st July, 2016.

Ref No:   23828/16     Proof:   860 
Answered by the Minister for Transport, Tourism and Sport
Shane Ross
REPLY


As I pointed out in my reply to Question No. 56 on Tuesday last, 19th July, the IASS pension scheme is currently the subject of on-going legal proceedings and I am unable to comment any further on the issue.


Dáil Question
No: 816

​To ask the Minister for Transport, Tourism and Sport the way his Department plans to use the moneys the State received from the sale of its stake in Aer Lingus; and if he will make a statement on the matter.
- Darragh O'Brien.

*    For WRITTEN answer on Thursday, 21st July, 2016.

Ref No:   23827/16     Proof:   859

Answered by the Minister for Transport, Tourism and Sport
Shane Ross
REPLY

​On the 26th of May 2015 it was announced that the previous Government had decided to support IAG's takeover offer for Aer Lingus. The previous Government also decided that the proceeds of any sale would be invested in a new 'Connectivity fund' as a sub-portfolio of the Ireland Strategic Investment Fund (ISIF). 
The offer closed on 2 September 2015 and the Exchequer received €335 million in September 2015 for its 25.1% shareholding. 
The Minister for Finance subsequently received Oireachtas approval for the proceeds to be paid into this fund in accordance with Section 46(2) of the National Treasury Management Agency (Amendment) Act, 2014. This further investment strengthened ISIF's capacity to support economic investment. The connectivity fund is designed to support projects which enhance Ireland's physical, virtual or energy connectivity. 
I understand from the Department of Finance that the fund will operate on a commercial basis and therefore not constitute Government expenditure.  
Any parliamentary questions in relation to the management of the Fund should be addressed to the Minister for Finance. 
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QUESTION NO:  101
DÁIL QUESTION addressed to the Minister for Finance (Deputy Michael Noonan)
by Deputy Darragh O'Brien
for WRITTEN ANSWER on 21/07/2016  

 
 To ask the Minister for Finance if he will consider in the forthcoming Budget, specific measures targeted at members of the IASS Pension Scheme to reduce the impact of cuts to their pension benefits; and if he will make a statement on the matter.
  
REPLY.


 The question does not specify the particular measures which the Deputy has in mind. In any event, I am sure he will understand that I would not be in a position to introduce any measures which would benefit the members of a particular pension scheme to the exclusion of other pension scheme members or taxpayers in a similar situation, generally, and I have no plans to do so.