Archive_Alerts 2014

ACCESS TO STATE'S INDUSTRIAL RELATIONS MACHINERY TO RESOLVE PENSION ISSUES BROUGHT UP IN DAIL ANOTHER DAIL QUESTION NO. 27 OCT 16TH REPLY

To ask the Minister for Jobs, Enterprise and Innovation his views regarding the measures he is putting in place to enable former employees gain access to the State's industrial relations machinery, for example in circumstances where issues arise in relation to a pension scheme; and if he will make a statement on the matter. Go to https://www.kildarestreet.com/.... Ref No: 39074/14

- Clare Daly.

For ORAL answer on Thursday, 16th October, 2014.

ALSO - CLARE DALY - OCTOBER 8TH 2014

https://www.youtube.com/watch?v=B2LBvSzuqI4&feature=youtu.be

DEFINED BENEFIT SAVINGS BROUGHT UP IN THE SENATE -

OCTOBER 8TH 2014

http://youtu.be/vyjyRPIPiEw

STATE TAKES NEARLY €11M SEPTEMBER 2014 FOR PENSION LEVY

€28M APPROXIMATELY TAKEN FROM PENSIONERS SO FAR

EMPLOYERS/TRUSTEES ROADSHOW SCHEDULE - OCTOBER 2014

Outlining details of COMPENSATION PACKAGES for Active/Deferred only

http://www.pensionproposals.ie/

SEPT 26 2014 - PENSIONERS NOTIFIED BY TRUSTEES OF PERMANENT CUTS IN PENSION FOR LIFE

DUE TO PENSION LEVY AND CHRISTMAS DAY 2013 PENSION LEGISLATION

- NO EMPLOYER CONTACT - NO ROADSHOWS - NO COMPENSATION

SEPT 23 2014 EMPLOYERS/TRUSTEES/ICTU INFORMED ACTIVE MEMBERS THAT THE CONSULTATION PROCESS TO IMPLEMENT PENSION CUTS USING SECTION 50 OF PENSIONS LEGISLATION

HAS STARTED AND WILL END OCT 27 2014

ALSO A SCHEDULE FOR ROADSHOW MEETINGS TO INFORM MEMBERS OF DETAILS OF COMPENSATION PACKAGE WITH EMPLOYERS/TRUSTEES AND LEGAL/ACTUARIAL/SCHEME ADVISORS

SIMILAR FOR DEFERRED MEMBERS -NOTIFIED BY EMPLOYERS/TRUSTEES AND ROADSHOWS

INFORMATION MEETING - SEPTEMBER 23RD

The Current Situation and

What we Want for Pensioners

go to side bar Events_Meetings click on

https://sites.google.com/site/retiredaviationstaffassoc/documents-1/information-meeting

DONATIONS OF €100

A special Bank Account for these funds has been set up to which your donation can be sent by Electronic Funds Transfer (EFT).

GO TO EVENTS_MEETING WEBPAGE OR CLICK ON

https://sites.google.com/site/retiredaviationstaffassoc/documents-1/information-meeting

IASS pensioners in the"unenviable position"of having no means of mitigating the impact of the Trustees/Sponsoring Employers cuts in benefits

CLICK ON ATTACHMENT FOR TABLE OF CUTS

https://sites.google.com/site/retiredaviationstaffassoc/home/sub-committee-reports/2-1-rasa-pension-update_aug-2014

Sept 12th - Pensions Authority Website for latest update on action to be taken in respect of DB schemes who fail to meet the MFS - The Pension Authority has the power to direct trustees of DB schemes to wind up or reduce benefits in this situation - http://www.pensionsauthority.ie

ANNUAL EVENTS

SEPT 10 - RASA SOLICITORS LK SHIELDS HAVE WRITTEN TO THE IASS TRUSTEES TO EXPRESS CONCERNS AND DISAPPOINTMENT WITH THE LACK OF MEANINGFUL ENGAGEMENT WITH THEM

.....ALSO THE DISPROPORTIONATE BURDEN ON THEM OF 6 WEEKS PAY CUTS

SEPT 5 2014 - SEE RASA PENSION UPDATE

SEE WEBPAGE 2.1

CLICK ON ATTACHMENT FOR TABLE OF CUTS

https://sites.google.com/site/retiredaviationstaffassoc/home/sub-committee-reports/2-1-rasa-pension-update_aug-2014

BUDGET 2015 SUBMISSION - THE PENSION LEVY -

GO TO WEBPAGE 8.1

https://sites.google.com/site/retiredaviationstaffassoc/home/some-correspondence/8-1-budget-2015---rasa-letter-to-ministers

Re-read letter to Trustees informing them of decision of AGM that they have no right to make deductions from pension ...and have given no consent to such actions.....

https://sites.google.com/site/retiredaviationstaffassoc/home/some-correspondence/8-4-rasa-s-response-to-trustee-april-2014

ARE YOU PROTESTING AGAINST JANUARY 2015 PENSION CUTS!!!!

Loss/Cut - 6 weeks pension income

YOUR MONTHLY 'PENSION ANNUITY' INCOME IS BEING FURTHER CUT

AVERAGE OVER €40 PER WEEK*

*FOR EXAMPLE 'PENSION ANNUITY' OF €22,500 PA - CUT €43 PER WEEK OR

ANNUAL 'PENSION ANNUITY' OF €35,000 - CUT WILL €67 PER WEEK

IF YOU HAVE €230 PW OR BELOW - A SIGHT OF RELIEF - AT PRESENT YOU WON'T BE TOUCHED!!!

DON'T FORGET THE 2014 PENSION LEVY CUT - ANOTHER 0.75%

July 17 2014 - RASA, as part of its continuing engagement with Pension Legal Experts, has had a Brief prepared and sent to Senior Counsel for an opinion on its potential legal case on a Pension Guarantee for Life[annuity] from the IASS Employers. RASA has also sought advice from an Independent Actuary on the “fairness” of the IASS Trustees current proposals as they apply to RASA Pension members

IMPORTANT TO NOTE: NONE OF THE RECENT HIGH PROFILE COURT CASES CUT THE CURRENT PENSION OF PENSIONERS - THEY KEPT THEIR PENSIONS

JULY 25 2014 - High Court - Landmark court case for Irish DB pension - the case is known as the Omega Pharma Case [Holloway and Others v Damianus BV and Others ]

Read comments from various sources including RASA LEGAL ADVISORS L K Shields website & Judgement - click on attachment at bottom of page

http://www.lkshields.ie/publications/pensions-update-omega-pharma-decision

GO TO MERCERS WEBSITE FOR ACTUARY COMMENT http://www.mercer.ie/insights/point/2014/MerceranalysisofOmegaPharma.html

WE DON'T EXIST - EMPLOYERS RECOGNISE ACTIVE AND DEFERRED PENSIONERS IN ONCE OFF LUMP SUM PAYMENTS FOR POTENTIAL FUTURE PENSION LOSSES -

PENSIONERS CHRISTMAS DAY 2013 GOVERNMENT PENSION CUT

FOR ACTUAL LOSSES ARE NOT COMPENSATED -

SEE ISE.IE FOR AER LINGUS/DAA MARKET ANNOUNCMENT JUNE 26 2014

Note: MANY PENSIONERS DID NOT OPT TO REDUCE THEIR CONTRIBUTIONS FOR A REDUCED COORDINATED BENEFIT AT NORMAL RETIREMENT DATE

PENSIONERS HAVE A 'PENSION FOR LIFE' DETERMINED AT THEIR NORMAL RETIREMENT DATE

BASED ON FRS/PENSIONABLE SERVICE - similar to purchasing an annuity at NRD -

Pensioners not included in the proposed Employers ONCE OFF Compensation to mitigate against losses

These funds are NOT PART OF the IASS .

This means that the employers are not putting any funds into the IASS to address the deficit.

This point is made in the Introduction to the Expert Panel Report where it states that the employers will not contemplate, under any circumstances, investing any additional funding to address the deficit.

Pensioners will see an immediate cash reduction in their monthly pensions to fund this deficit from January 2015 with no access to employers separate compensation funds

JULY 27 2014 - STATE AIRPORT (SHANNON GROUP) ACT 2014 SIGNED INTO LAW BY PRESIDENT

Section dealing with IAS requires two commencement orders - KEEP A WATCH!!

Many of the Questions raised by politicians were prompted by submissions and documentation supplied

by the RASA Pensions Sub-Committee and individuals.

IASS related Issues were raised during all stages of the debates in the Senate/Dail.

For Example Go to view C Daly, TD -

https://www.youtube.com/watch?v=deXSywyG484

https://www.youtube.com/watch?v=Tu6t0pdPnLg

and others

Darragh O’Brien, https://t.co/QTWi3l2jVK https://t.co/QTWi3l2jVK

Ruth Coppinger, http://ruthcoppinger.com/ruth-coppinger-td-raiding-of-airline-industry-workers-pensions-is-part-of-the-race-to-the-bottom/

Averill Power, T Dooley and others -

go to oireachtas.ie website and individual representatives site e.g.

A MUST READ - IAS amendments from Dail to Seanad July 15th click on

http://www.oireachtas.ie/documents/bills28/bills/2014/3514/b35e14s-da.pdf

June 16 2014 Expert Panel Report issued -

Pensioners only group not included in the recommendations.

It is for the Trustees to deal with the Pensioners

Pensioners only group reducing the pension deficit within the IASS

by IMMEDIATE cash transfer from pensioners

Employers not required to put any funds into the IASS to address the deficit

Employers not providing for benefit reduction of pensioners.

JUNE 12 2014 - EXPERT PANEL TELLS RASA THAT FOLLOWING DISCUSSIONS WITH EMPLOYERS/TRUSTEES/GOVERNMENT DEPARTMENTS THAT INVOLVEMENT OF RETIRED MEMBERS IS OUTSIDE THEIR TERMS OF REFERENCE.

Go to Webpage 3 on sidebar to open RASA's submission on March 27 2014 to Expert Panel

Expert Panel Press Releases & Terms of Reference on dttas.ie

July 2014 - Senate debate on Social Welfare & Pensions Bill 2014 -

amendments proposed in relation to Section 50 [Refer to IAS scheme]

July 2014 - State Airports (Shannon Group) Bill in the Dail

Significant impact on IASS members - read the transcript on the Oireachtas website.

http://oireachtasdebates.oireachtas.ie/

Go to Official Debates

http://www.dttas.ie/aviation/publications/english/state-airports-shannon-group-bill-2014-initiated-including-explanatory

Contact your local TD's to bring about any amendments to this Bill