ALERTS !!!!!




AER LINGUS/DAA PENSIONERS ACTUAL INCOME DOWN €1.5 MILLION YEAR ON YEAR TO MARCH 2015 WITHOUT MITIGATION 

If you are a coordinated member on pension who has not yet reached normal retirement date your pension in payment will be further reduced - this is in addition to your pension levy and S50 Debt cuts in January 2015.  For some pensioners that can be an additional 50%.   Individuals are being informed by the Secretary of the IASS scheme in the month before the cuts are being implemented.  

There is no mitigation or compensation for these cuts proposed by employers/trustees and others.

If you have outside Republic of Ireland pensionable service please contact the Pension Scheme office or email pensionqueries@aerlingus.com if you have any queries.  

 
April 10 2015 - Former Aer Lingus staff to sue State on pensions - Irish Independent Article - John Mulligan - 


Go to attachment below to view IASS Rule changes Dec 2014 as referred to in Aer Lingus Report & Accounts 

Click http://www.rns-pdf.londonstockexchange.com/rns/6351I_-2015-3-26.pdf  for Aer Lingus Report & Accounts
May 1 2015 Aer Lingus AGM

PENSIONERS DID NOT KNOW THAT THEIR PENSION FOR LIFE [ie ANNUITY] ESTABLISHED AT DRAW DOWN WAS ENCUMBERED!!!  REPAYMENTS OF THIS ACTUARIALLY CALCULATED DEBT[MFS S50 DEBT]TAKEN FROM MONTHLY INCOME WITHOUT PENSIONERS CONSENT/ENGAGEMENT OR MITIGATION AGAINST THESE LOSSES

ECB BUYING OF EUROPEAN GOVT BONDS - OUR PENSIONS ARE MATCHED TO THESE BONDS - THE
 RISKS!!!!    LOW INTEREST RATES -  THE RISKS !!!!  LOW ANNUITY RATES - THE RISKS!!!!
        MFS DEBT ACTUARIAL CALCULATIONS USING THESE RATES!!!

March 31 2015 - Another month's payslip showing income cuts .   €1.5m taken from pensioners income so far - ACTUAL MONEY OUT OF OUR POCKETS.

March 26 2015  '..QE has been unfair and unequal, but due to the complicated nature of QE, this unfairness has yet to come to the surface. The unfairness and inequity have been greatest for underfunded pension schemes....  http://www.iapf.ie/_files/events/269/ColmFitzgeraldPresentation.pdf

TO VIEW PRESENTATION - CLICK ON ATTACHMENT BOTTOM OF PAGE

March 24 2015 CDaly TD query statement of Minister to Q116 of Mar 10: .deficit support from the employers !! see written ans 990-mitigation only for non pensioners - benefit cuts only mitigated for non pensioners.   
Reply....... I said that the fund has received additional support from the employers involved totalling €260 million.  The funding I referred to was provided by the employers outside of the IASS and is intended to mitigate the benefit cuts under the approved IASS funding proposal. The funds were not put into the IASS fund directly and I hope this clarifies my previous comments.

March 11 2015- Dail Question 116 - Shane Ross re IASS and Minister Response that included statement regarding funds into scheme.   Rasa wrote to Min regarding this Go t 2.8 on side bar to read this letter. Click on http://www.shaneross.ie/priority-question-minister-transport-iass-deferred-pensioners/ to view exchange in Dail. 

FEB 25 2015  HERALD ARTICLE -Local Economy is down €6m a year                                                   http://www.herald.ie/news/city-beat/local-economy-is-down-6mayear-31020032.html
FEB 18 RASA LETTER TO PENSIONERS GO TO PAGE 2.1 OR 2.8 ON SIDE BAR. 
FEB 13 - Dail question raised by TD Clare Daly -Access to those pensioners and their organisations, such as RASA, to Labour Court view https://www.youtube.com/watch?v=uIpk4JFu4jQ 
THOSE ON PENSION;  NO INCREASES FOR THOSE ON PENSION FROM IASS SINCE 2007. 

DEFERRED PENSIONS;INCREASES TO DEFERRED PENSIONS ARE INCREASED IN LINE WITH CPI.

MIN FOR SOCIAL PROTECTION STATUTORY REVALUATION INSTRUMENT DATED 30 JAN 2014 ALLOWS FOR A 0.2% INCREASE IN PENSIONS F0R 2014 DEFERRED PENSIONS CLICK http://www.irishstatutebook.ie/pdf/2015/en.si.2015.0043.pdf

NO CONTRIBUTION FROM AER LINGUS/DAA FOR PENSION CUTS MADE TO PENSIONERS

  IN RECEIPT OF PENSION INCOME -  EXCLUDED FROM CONTRIBUTIONS FUNDS


Feb 10th Court of Appeal rejects employers appeal in the Pharma Omega case  http://www.courts.ie/Judgments.nsf/0/8776ACACB1B72A7D80257DE9003FB5EB

Oireachtas Joint Committee on Transport Feb 12 2015 CEO IAG- transcript of debate can be read on  http://oireachtasdebates.oireachtas.ie/Debates%20Authoring/DebatesWebPack.nsf/committeetakes/TRJ2015021200002   and can be viewed on Video Play back also.

Aer Lingus(& Associated employers)/daa pensioners have €0.5 million less pension spend in January 2015 than December 2014 - Austerity continues for IASS pensioners & local economy. 


PENSIONERS PAYING A DEBT THEY DID NOT KNOW THEY HAD - DEDUCTIONS TAKEN AT SOURCE WITHOUT CONSENT!!

RASA STATEMENT FOLLOWING PACKED MEETING OF IASS PENSIONERS AT MEETING ON FEB 2 2015  - GO TO WEBPAGE 2.8/2.1

RASA MOVING WITH LEGAL CHALLENGE OVER PENSION CUTS
     RASA SEEKING DONATIONS.
RASA SEEKING PLAINTIFFS TO VOLUNTEER FOR A PANEL OF POTENTIAL PLAINTIFFS.
January 2015: Annual Report & Accounts to March 31 2014 and Actuarial Valuation Reports for IASS scheme and all Aer Lingus First and Second Supplementary funds & daa ARSSS available on request to Scheme Secretary .
Negative cumulative annual inflation to mid Feb has resulted in no post retirement increases being paid from supplementary funds [these schemes offset negative inflation against positive inflation on a cumulative basis unlike statutory revaluation]
NO DEBT RESOLUTION DISCUSSIONS/NEGOTIATIONS TO IASS PENSION ISSUES FOR PENSIONERS YET! AER LINGUS (€129m)/DAA(€45m) TRANSFERS €174M MFS DEBT BURDEN TO PENSIONERS AND COMMENCES DEDUCTING THIS DEBT FROM PENSIONERS PAY PACKET FROM JANUARY 2015. THIS IS AN OUTSTANDING EMPLOYER DEBT - THEY ARE WALKING AWAY!!!
NO FEEL GOOD FACTOR FOR IASS PENSIONERS - PAYSLIP SHOWS BIG DROP IN BASIC INCOME              

IF BASIC CODE PENSION IS €1800-€2500 PER MONTH THIS WILL BE CUT BY €180-€250 IN THE MONTH                       
IN ADDITION TO HIGHER PENSION LEVY DEDUCTION OF 2.53% FOR LIFE 
FOR EXAMPLES OF INCOME CUTS - GO TO ATTACHMENT ON 2.1
 
Jan 29 - Oireachtas Committee on Transport & Communications debate on sale of Aer Lingus to IAG
Jan 21 2015 Petitions Committee to consider State Pension age change - The Oireachtas Joint Committee on Public Service Oversign & Petitions heard from individual citizen on the unfairness of the raising of the State      Pension age retrospectively . Go to Oireachtas Dowload video hourly CR3 wmv file 21 Jan at 17.00 & 1730  CR3_20150121160001_001.wmv  CR3_2n0150121163001_001.wmv      

PENSION AUTHORITY, DAA, AER LINGUS, TRUSTEES AND SHAREHOLDERS -  A CHRISTMAS 2014 PRESENT TO CUT OUR INCOME!!!
DEC 23 2014 - IASS PENSIONERS VOICE IGNORED BY ALL -                  
EMPLOYERS & TRUSTEES JOINTLY SIGNED PROPOSAL TO CUT PENSIONS AND TAKE €175M EUROS FROM OUR PENSION SAVINGS                   
CUT OF SIX WEEKS TO OUR ANNUAL PENSION ANNUITY                                                                                                                  HOW THEY WILL AFFECT YOU - GO TO ATTACHMENT ON SIDEBAR 2.1
PENSIONERS ARE ENCOURAGED TO KEEP CONTROL OF THEIR FINANCES -                                           SO WHY ARE NON PENSIONERS MAKING CUTS TO OUR PENSION INCOME  WITHOUT US ?                  
Go to the National Centre for Older People website - 
 Fingal Independent December 20 2014                                                          
http://www.independent.ie/regionals/fingalindependent/news/pensioner-protest-30838433.html                                                   
daa and Aer Lingus stating that the Pensions Authority will approve the joint Employer/Trustees proposals to cut PENSIONERS INCOMES BY 6 wks pension without hassel (Dec 19)
Senate debate on Social Welfare - Senators A Power & D O Brien raising issues - go to https://www.youtube.com/watch?v=ZuFyuyHWV68
AER LINGUS SHAREHOLDERS VOTE TO CUT PENSIONERS INCOME BY SIX WEEKS 

AER LINGUS SHAREHOLDERS VOTE TO EXCLUDE 
 THOSE PENSIONERS ON PENSION FROM THE FINANCIAL COMPENSATION FUNDS APPROVED TO MITIGATE EXPECTED LOSSES - NO MITIGATION FOR ACTUAL LOSSES - NO INVOLVEMENT IN DEBT RESTRUCTURING.  


RASA SPEAKING ON RTE ON IASS ISSUES - CLICK ON 

December 10 2014 11.30 ALSAA
UPDATE MEETING ON PENSIONS (INCL PRESENTATION ON THE TRUSTEE PROPOSALS FROM RASA'S ACTUARY )

PROTEST WALK FOLLOWING THIS MEETING - ASSEMBLE @ ALSAA 12.30 HR

Dec 4 2014 - RASA met with the Pensions Authority along with RASA's legal and actuary advisors.  
RASA representatives outlined concerns and issues of members relating to the Draft Section 50 benefit reduction proposals planned to come into effect on Jan 1 2015.
  Regulator said that each and every issue raised in the hundreds of submissions from members will be examined. 

Irish Independent Dec 8 2014  to read more about IASS pension cut of six weeks

http://www.independent.ie/irish-news/i-am-hurt-everybody-is-says-father-of-two-30806946.html


Dec 4 2014 - Clare Daly speaking on amendments on Social Welfare Bill raising concerns of pension scheme.





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