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RASA'S OLDER PERSONS ENTITLEMENT BOOKLET 2025 

IF YOU WOULD LIKE A SOFT COPY 

PLEASE EMAIL rasadub@gmail.com 

Information Meetings on Legal Case held in 2017 and 2018.

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Information Meeting updates on legal challenge to pension cuts held - plaintiffs notified directly.

May 1 2015 - RASA Protest March at Aer Lingus AGM 

“RASA is planning to stage a Protest Demonstration outside the Radisson Hotel in advance of the Aer Lingus AGM on Friday next, 1st May.

Members are requested to assemble in the Car Park at ALSAA to collect placards from the RASA office at 13:30.  

Feb 2 2015 RASA Pensions Information Meeting ALSAA

Dec 10 2014 - PENSION UPDATE BRIEFING INCLUDING RASA'S ACTUARY PRESENTATION ON CUTS - FOLLOWED BY PROTEST - LISTEN TO RTE NEWS DEC 10

 http://www.rte.ie/news/player/2014/1210/20695673-aer-lingus-shareholders-vote-for-pension-payment/

NOV 4TH - POST ECUMENICAL SERVICE - PENSION UPDATE BRIEFING

North County Leader Nov 4 2014 -Pensioners Hung Out to Dry go to read more

http://www.northcountyleader.ie/index.php/news/16297-pensioners-hung-out-to-dry.html

Fingal Independent Sept 30th 2014 Page 9 Pension Crisis Meeting held fingalindependent.newspaperdirect.com/epaper/viewer.

RASA Pensions Information Meeting

23 SEPTEMBER 2014

The Current Situation and What We Want for Pensioners

Our advice is that we must keep saying and reminding ourselves that we have and had a Defined Benefit Scheme. We had a “Pension Promise” in times when Aer Lingus, Aer Rianta/DAA was a career job for 30, 40 or more years. These words are copper fastened in OECD and EU documentation. Our Department of Social Protection recognises the concept of a “Pension Promise”. It is a legitimate and accepted concept. It relates to the trust, relationship, good faith and duty between Employers, Trustees and Members.

It creates for Pensioners the concept of “Reasonable Expectation”

Since we last had our AGM in April RASA has been working on behalf of its members.

     -       We wrote to the Trustee after the AGM.

-       We challenged the Trustee on assumptions made to underpin the proposed restructuring.

-       We met again the Expert Panel only to be advised that they could not deal with Pensioners.

-       The Employers pushed the view that Pensioners were not Stakeholders and not even the Trustee and Trade Unions supported Pensioners.

Let me remind you again of what is being proposed for Pensioners.

     -       Closing of the Defined Benefit IASS; no more new members; no contributions. Trustee will buy a mix of Italian, French and Spanish Bonds and  some Irish Sovereign Bonds in case of future wind up.

-       No extra cash from the Employers. We believe it has been their policy to close down the IASS no matter what.

-       The Trustee will recommend that Pensioners will bear the maximum possible reduction under the Pensions Act.

o   Below €12,000 - exempt

o   Greater than €12,000 - a 10% cut but pension not less that €12,000

o   Above €60,000 - a 20% cut but pension not less than €54,000

-       On top of this there is the pension levy.

-       It means in effect on average loss of 6 week’s pay per annum for the average Pensioner.

The Expert Panel, the State and the Employers keep saying that the Pensioners are a matter for the Trustee. However the Trustee’s priority appears to be Active and Deferred Members.

The Trustee was not obliged seek the maximum possible reduction under the Pensions Act to reduce Pensions in Payment. However, the effect of reducing Pensions in Payment by the maximum amount is that it reduces the amount necessary for the Employers to compensate both Active and Deferred Members.

Pensioners are the only group having CASH taken out of their pockets with NO COMPENSATION.

The Trustees appear to have taken no account of Compensation Funds for Active and Deferred Members. They are outside the IASS.

A proper reconstruction would mean the Employers put money into the IASS. Compensation outside the Fund is not acceptable. Employers wish to close the Fund now or in the future when it suits.

It would better suit Pensioners if the scheme was wound up now. We get our pensions; we have less long term risk; no Pension Levy; no further Legislative Risk. It would have been better 2 years ago.

Our Actuary advises that Pensioners are carrying all the Risk into the future. There is no upside. There has been no CPI increase paid since 2007 and none into the future. Active and Deferred Members have money in the DC scheme which given good fortune will grow and may be further supplemented in future.

What we want for the Pensioners.

-       We want to retain our pensions in payment.

-       We want to copper fasten a guarantee of our pensions into the future.

-       We want credits for those who paid more and for those who bought back years – “No one size fits all”.

-       We want cost of living increases now and into the future.

The Trustee continues to say that there is no more money. This is a misnomer. The Employers can find money for the Labour Court recommendation and then they found more money when the Expert Panel recommended it so we do not accept that there is no more money available.

We have spent considerable time in Legal dialogue and consultation. We expect a comprehensive review within the next week.

All these consultations and legal advice cost significant money. We may end up in a lengthy court action.

For a start we are asking every Pensioner to contribute €100 to our Fighting Fund. We are fighting not only for our own Pensioners but for every scheme not yet restructured. If Employers and Trustees are successful in implementing our pension cuts, it will open the flood gates.

Legislation in other countries prevents reductions to Pensions in Payment. However, Ireland permits this to happen. There is no guarantee that we will win but we must try.

The consultation period starts now. 

We want everyone to write to the Trustee outlining their objection to the plan. 

RASA is seeking donations for the RASA Pension Fighting Fund 

This donation may be sent by cheque or dropped in to the RASA office on Tuesdays and Thursdays 

from 10:00 to 12:00.

Cheque to be made payable to RASA, c/o ALSAA Complex Dublin Airport. 

A special Bank Account for these funds has been set up to which your donation 

can be sent by Electronic Funds Transfer (EFT). 

Details are: 

Bank/Branch           Bank of Ireland / Malahide /Co Dublin Ireland

Account Name         RASA 

Account No              7963 8102 

Sort Code                90 06 07 

IBAN                       IE43BOFI90060779638102 (all numbers except for IE and BOFI)

BIC                          BOFIIE2D (all letters except for No. 2)

Reference               Include your SURNAME, First Name and Pension or Staff Number