Labour Court Hearing on Pension Issues - PENSIONERS EXCLUDED.

Despite requests for inclusion under Irish law the Labour Court is precluded from dealing with disputes regarding retired employees: RASA wrote to the Chairman of the Labour Court with our issues and concerns- but all these concerns were ignored!!

The IASS pension dispute was referred to the Labour Court following extensive discussions at the Labour Relations Commission in 2012. RASA noted that it is proposed that the Trustees of IASS will 'freeze' the scheme rather than wind-up, realise the assets of the IASS pension scheme, and buy Irish Government debt/sovereign bonds.

The Labour Court issued separate Recommendations in respect of Aer Lingus [LCR20440 & LCR20524) and DAA[LCR20523] on 24 May 2013 in relation to the IASS pension disputes. None of the recommendations provide for any funds to be directed into the IASS pension. While not included in the Recommendations both DAA and Aer Lingus indicated they will make some financial provision outside of the IASS for SOME of the loss for those still contributing or a deferred pensioner from IASS. Go to http://www.labourcourt.ie to read the recommendations.

In the Annual Accounts of IASS to March 2013 the Trustee states that they are engaged with the Pensions Authority [formerly Board] in relation to a funding proposal for the Scheme as well as discussions with employers and unions. As at that time the majority of scheme's assets were invested in European sovereign bonds and cash broadly matching the liability profile of the Scheme and excludes any provision for cost of living. With the Global Financial & Banking Crisis/Great Recession 2007/08 the fund is in deficit as measured by the Irish Pension Board's Statutory Minimum Funding Standard.

Over the summer of 2013 RASA Pension Sub-Committee met with the Trustee Board to discuss the Statutory Minimum Funding Standard deficit in the IASS. RASA also wrote to the Chairperson of the Trustee Board, copying a number of Ministers, leaders of Political parties and Irish Congress of Trade Unions expressing the concerns and anxiety of RASA members regarding their pensions. While recognising that the Trustees can only deal with the assets and related liabilities of the scheme RASA asked that the Trustees do not accept the Labour Court Recommendations until all parties are satisfied and get their just entitlement and to seek ....funding for the IASS from both employers...

Following on from this latest Trustee proposal discussions took place between Trade Unions and employers and following the breakdown of discussions strike notice was formally notified to both Aer Lingus and Daa. Earlier in 2014 Trade Unions had sought an Industrial Action mandate from their members who are employees of the participating employers to the IASS scheme such as Aer Lingus, daa and SAA. As Aer Lingus (Ireland) Ltd (set up 2009) or DAA Airport Services Ltd (set up 2010) are not adhered/participating employers to the IASS scheme their employees are not members of the scheme. The setting up of these different companies facilitated the employers' objective since the early 2000's to close the IASS to new entrants and set up new occupation pension schemes.

In addition discussions have begun within Government on how pensioners can be engaged in industrial relations mechanisms. However nothing has happened

2016