Embedded Files
2025 Annual Memorial/Ecumenical Service.
SINCE JANUARY 2015 to DECEMBER 2017
- c€18m
IS THE ACTUAL AMOUNT THAT OUR MONTHLY INCOME IS REDUCED.
THIS REDUCTION TO OUR MONTHLY INCOME COMMENCED THREE YEARS AGO AND 'HIT' OUR MONTHLY PAYSLIPS EVERY MONTH SINCE JANUARY 2015 AS PAYMENT TOWARDS A MFS ACTUARIAL DEBT THAT WE DID NOT KNOW WE HAD & EXCLUDED FROM COMPENSATION
LOOK UP YOUR DEC 2015 PAYSLIP AND CHECK OUT HOW MUCH YOUR INCOME IS DOWN!!!
AVERAGE AGE OF PENSIONERS IS 76* YEARS
*those on pension in Dec 2014
TAKEN DIRECTLY OUT OF THE POCKETS OF THOSE ON PENSIONS
PLUS ONGOING 2.53% PENSION LEVY DEDUCTION EACH MONTH FOR LIFE
PLUS €38.4m GOVERNMENT IMPOSED PENSION LEVY ON THIS MULTI EMPLOYER OCCUPATIONAL PENSION FUND
ON TOP OF THE 10TH YEAR OF FIXED MONTHLY PENSION
COST OF LIVING ADJUSTMENTS FROZEN IN 2008 AT 2007'S LEVEL
JANUARY 2015 COST OF LIVING ADJUSTMENTS SCRAPPED!
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NO COMPENSATION RECEIVED FOR THESE UNILATERAL CUTS
BIG CUTS TO REAL AND ACTUAL INCOME FOR THOSE DRAWING DOWN THEIR PENSIONS IN IASS
OTHERS ARE NOW SEEING THEIR INCOMES RISE AND PHASED RESTORATION OF DEDUCTIONS*
* www.per.gov.ie/wp-content/uploads/PSPR-FAQ-2017.pdf
WE ARE SEEING OUR PENSION INCOME DEDUCTIONS CONTINUING
REQUIRED NOW: RESTORATION TO OUR DECEMBER 2014 PENSION PAYMENT
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REMINDER: Clarification regarding Coordinated members on early retirement pensions in Jan 2015
If you are an IASS coordinated member in January 2015 who left employer with immediate pension i.e. early retirement pension, who has not yet reached normal retirement date, your pension in payment that was cut in Jan 2015 will be further reduced to reflect your coordinated member status [the % contribution to IASS was reduced to reflect coordinated membership status].
This deduction is in addition to your pension levy and the SECTION 50 DEBT cuts imposed on your pension income by Employers/Trustees/Pension Authority in January 2015 without your consent. For some pensioners that can be an additional reduction of 50%*. Individuals are expected to be informed by the Secretary of the IASS scheme in the month before the reduction is implemented.
There has been no mitigation or compensation for these cuts - the buy-out compensation for reduced benefits provided by employers only available to future pensioners i.e. active and deferred members of IASS who are not in receipt of pension on January 1 2015.
*NOTE: IF YOUR CURRENT PENSION POST PENSION LEVY AND SECTION 50 DEBT CUT IMPOSED IN
JAN 2015 IS FOR EXAMPLE €16,000 AND AT EARLY RETIREMENT YOU HAD 40 YEARS PENSIONABLE SERVICE IT WILL BE CUT BY THE FULL SOCIAL WELFARE OFFSET AND THIS WILL BRING YOUR PENSION DOWN TO €4,000 PER ANNUM.
THERE WILL LIKELY BE A GAP OF MAXIMUM ONE YEAR BEFORE YOUR RECEIVE YOUR STATE CONTRIBUTORY PENSION AT AGE 66
December 15 2017 - Pension Legal Action Update
There were two Court Appearances on 5th and 12th December 2017. The next Appearance is listed for the middle of January 2018. Further information will be communicated to the Plaintiffs direct and it is intended to have a meeting of Plaintiffs in the New Year when the outcome of the next Court Appearance is known.
December 8 2017 - AER LINGUS 2ND SUPPLEMENTARY SCHEME.
The Trustees are indicating that they intend purchasing annuities for current pensioners sometime in early 2018. The last Annual Report and Accounts for this scheme available to members if for April 2015 to March 2016.
No information yet regarding the Pensions Authority Review
November 29 2017 - AER LINGUS 2ND SUPPLEMENTARY SCHEME WIND UP.
Dail PQ 38 Clare Daly TD and Minister for Employment Affairs and Social Protection regarding what stage Pension Authority review of 2nd fund is at and will be completed and the position in regard to annuities as the only option for current pensioners. View by clicking as follows:
Click on https://youtu.be/HwCkT_g2bxc
November 24 2017 - No further update from the Trustees of the Aer Lingus 2nd Supplementary Scheme Wind up.
This scheme was wound up in December 2016 and members informed of this windup a number of weeks later.
There is no information regarding the size of the fund being wound up - the last annual accounts available is to March 2016. Neither are the trustees providing the level of detailed information that current pensioners and others are requesting as they consider it would be too costly.
We understand that the current pensioners financial interest will receive a minimum amount of the combination of the employee and employer contributions, less whatever the individual has been paid to date in their monthly payslip. This is said to reflect the Defined Benefit registration nature of this fund. However individuals are expressing great difficulty working out the financial interest amount that will be used to purchase an annuity has been arrived at or the annual amount that will provide.
22 November 2017 - A large number of former employees of Aer Lingus, DAA and related aviation companies attended the RASA Ecumenical Memorial Service to remember deceased colleagues in ALSAA Dublin Airport.
October 17 2017 - Aer Lingus 2nd Supplementary Scheme Wind up raised in the Dail under Topical Issues No 4 .
Min for Employment Affairs and Social Protection stated..
However, where issues that cause concern relating to a particular scheme are raised with me, as in this case, I can notify the Pensions Authority and ask those responsible to intercede. I wish to confirm for the Deputies present and absent that the matter relating to this particular scheme has been raised with my Department. In turn, we have raised it with the Pensions Authority, which has agreed to examine it and come back to us with a report. The Pensions Authority will assess if there has been a legal breach of obligations and take any necessary action if such a breach has been found.
View the debate on https://youtu.be/68F8jXBMSLo
Clare Daly TD highlighted the only option for the current pensioners was annuity purchased by the trustees the value of which is €0.45c per WEEK.
September 21 2017 - Aer Lingus 2nd Supplementary Fund Wind-up.
Irish Pension Trust Ltd wound up this fund following the resignation of the previous trustees on 22 December 2016 and they have appointed Mercer to administer the windup.
Mercer has just written to all those in receipt of a pension from this scheme - total of 349 pensioners receiving an average ANNUAL pension payment of €26.60 (as per March 2016 accounts).
The trustees are not accommodating any other option for the payment of individuals refund of contributions/share of distribution other than purchasing a very expensive annuity from one of the insurance companies in the Irish marketplace.
Again individual pensioners have no say!!!
September 15 2017 - Aer Lingus 2nd Supplementary Fund
Future pensioners have received communication with information displaying their individual share of the assets in this fund from the Trustees of this fund and other details.
Current Pensioners have received no communications from the trustees of this fund letting them know what is happening but the letter to future pensioners indicate that there will be purchase of conventional annuities and no option to provide lump sums.
2017 - Annual General Meetings
Sept 12 2017 - RASA AGM - ALSAA Complex -
Update on Staff Travel - followed by
Annual General Meeting
Sept 7 2017 - RALSA - UK AGM at 17.00 Venue TJ Duffy’s Bar and Restaurant, 282-384 Northfield Ave, Ealing, London W5 4UB: Tel: 0208 823 9009 - : Nearest Tube Station – Northfields on the Piccadilly Line. Exit station and cross the road immediately, turning left, continue down the road for approximately 75 metres.
July 14 2017 - Clare Daly TD on proposed changes to Social Welfare, Pensions & Civil Registration Bill 2017 - including Defined Benefit schemes - click on
full transcript on Oireachtas website
Aer Lingus IASS First Supplementary Pension Scheme - July 14 2017
RASA has been contacted by some IASS Pensioners who have received a letter “issued for and on behalf of AL First Scheme Trustees Limited” which refers to them “currently receiving payments to which they are not entitled” … “due to an historic administrative error”. RASA has had sight of one of these letters which concludes “The Trustee sincerely regrets having to write this letter and for any inconvenience caused. If you have any queries in relation to this letter please contact the Mercer Pension Payroll helpline number +353 (0)1 526 8444 and a member of the payroll team will be available to assist.”
RASA understands that the advice being given to those who phone Mercer is to write to the Paul Kelly, Trustee, The First Aer Lingus Supplementary Pension Scheme, Services Annexe, Aer Lingus Head Office, Dublin Airport, Co Dublin.
RASA had no correspondence from the Trustee indicating the intention to issue such letters and is gathering information to form a position on the developing situation with a view to advising members of what action to take. In the meantime following Mercer’s advice is appropriate.
Citizens Assembly – Pensions, Income and Retirement
July 8/9 2017 the Citizens Assembly met to deal with Pensions, Income and Retirement.
Full details of the presentations, slides and video and finally the recommendations of the Citizens Assembly can be viewed on their website.
Schedule of Meetings
The Assembly considered this particular topic on 10-11 June and 8-9 July 2017.
Please click on the date above to view material presented to the Assembly that weekend.
A revised full calendar of meetings is available here.
June 2017 - From RALSA-UK
UK IASS PENSIONERS RECEIVE THEIR ARREARS OF CPI PAYMENT DUE UNDER UK LEGISLATION After years of advocacy on behalf of UK pensioners RALSA-UK, assisted by RASA(Ireland), have now finally been paid
their CPI arrears, with interest, due from the IASS pension scheme. RALSA-UK has sent out a communication to all current UK members explaining generally how the recent
back pay to cover CPI/Inflation due to members under existing UK law was calculated. Further enquiries and your own specific year on year detailed calculations and future increases are available from
Mercer who are the IASS Registered Administrators in Dublin.
Their telephone number is on your monthly pension payslip and is 353-1-5268444.
June 15 2017 - Oireachtas Discussion on Pension Schemes as part of the Social Welfare & Pensions Bill 2017.
Submissions made by Pensions Regulator and IBEC and Pensions Equality.
The Pension Regulator indicated that the funding standard calculation in respect of current pensioners in receipt of payment is based on how much it would cost to pay an insurance company to take over the responsibility for these current payments to pensions ....
...this calculation has raised questions that the cost [pensioner liability] may be overestimated ...
RASA has repeatedly stated that the reductions to our monthly income is based on an actuarial calculation and in a windup situation .
You can playback the committee submissions below and click on the Presentations .
16 June 2017
Meeting of the Joint Committee on Social Protection, Thursday 15 June 2017, Webcast Recording. CR4, LH 2000 10.30 a.m.
Presentations to the Oireachtas Joint Committee on Social Protection
15 June 2017
1 June 2017
RASA News - Pension Legal Action – Update – 02JUN17
The review of documentation received as part of the discovery process is ongoing by the legal team and should be concluded over the next 2 weeks.
In tandem with the discovery review our legal team is now taking appropriate steps to prepare this matter for trial, which includes retaining appropriate expert witnesses and preparing witnesses statements of all those individuals who will be required to give evidence at the trial of this action.
The trial date has been reassigned to 14 November in the High Court for 6 weeks. This was to ensure that our legal team have adequate time to take the necessary steps to prepare this matter for trial. The next few months will involve extensive work to prepare for trial.
If you have returned signed papers to LK Shields and wish to check that you are on the list of “interested persons” (or eligible Plaintiffs) or have any other queries in relation to the Legal Action please send an email to rasapension@gmail.com
RASA News - Pension Legal Action – Update – 19MAY17
Documentation received as part of the discovery process is being examined by the Legal Team. The Case
is scheduled for Hearing in the High Court on 3rd October 2017 for 6 weeks.
If you have returned signed papers to LK Shields and wish to check that you are on the list of “interested
persons” (or eligible Plaintiffs) or have any other queries in relation to the Legal Action please send an
email to rasapension@gmail.com .
RASA News - Pension Legal Action – Update – 28APRIL 2017
The parties had initially agreed a deadline for exchange of discovery and replies to interrogatories on a reciprocal basis on 7 April, which the Court had approved. On the eve of that deadline the State wrote to LK Shields seeking an extension of the agreed time period claiming that notwithstanding the significant resources it had allocated to the discovery process, it had not been able to complete the task within the time period agreed.
It was necessary for the State to make an application to Court on 7 April 2017 to extend this time period – the State sought an additional three weeks to comply with its discovery obligations, which the Court reluctantly agreed to, having listened to the concerns expressed by our Senior Counsel, regarding wanting to ensure we retain the trial date of 3 October 2017. The new deadline for the delivery of interrogatories and discovery is today Friday 28 April 2017.
Our legal team has spent a significant amount of time and effort working on this matter over the last number of months to ensure that we met all the Court's deadlines - which we have.
If you have returned signed papers to LK Shields and wish to check that you are on the list of “interested persons” (or eligible Plaintiffs) or have any other queries in relation to the Legal Action please send an email to rasapension@gmail.com .
February 7 2017 - Darragh O Brien TD, Dail Eireann Pensions (Amendment) Bill (No 2) 2017 Second Stage Debate
https://www.youtube.com/watch?list=UUk99FycscaGjRQiv2SxFzpg&v=2cQrh6sXUuU
February 2017: The Employers, Aer Lingus, with the consent of the Trustees of both Aer Lingus First and Second Supplementary Pension Schemes amended the Trust Deeds and Rules of these pension schemes in order to windup the Second Fund. Mercer have written to members of the Second Fund.
February 2017 - Annual Report & Accounts for year April 2015 - March 2016 for IASS, & Aer Lingus First & Second Funds are now available. A copy can be requested from Mercer. Contact details on side bar or on the bottom right hand side of your monthly payslip.
RASA Legal Update - February 2017: The parties have now reached agreement on the discovery process.
The matter was back before the President of the High Court again on Monday last, 6 February, where our Senior Counsel informed the Court that agreement had been reached in relation to discovery and that the agreement had now been executed by both parties. Our Senior Counsel informed the Court that the Agreement envisaged that discovery and replies to interrogatories would be exchanged on 7 April 2017.
In relation to obtaining a trial date for this case – Senior Counsel outlined to the Court the numerous steps that the parties would be required to take between 7 April 2017 and the date of the trial
The President then assigned 3 October 2017 for the trial to commence, the first full day of hearing in that Court term.
If you have returned signed papers to LK Shields and wish to check that you are on the list of “interested persons” (or eligible Plaintiffs) or the Fighting Fund please send an email to rasapension@gmail.com
Please use the same address if you have any other queries in relation to the Legal Action.
RASA Legal Update: January 2017 - The matter was back before the President of the High Court on 16 January 2017 and January 23 2017. The matter was adjourned until Monday 6 February 2017. The President restated that he intends to fix a provisional trial date and asked that the parties consider a timetable for the remainder of the steps to trial after discovery.
January 2017 - Another €0.5m taken this month cut from our monthly pay package without our consent or compensation
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