Air worker pensions €600m in deficit

TALKS are to begin next week on ways to address the rapidly escalating deficit in the pension scheme for the Dublin Airport Authority and Aer Lingus workers, now reportedly in the red by up to €600 million.

The Labour Relations Commission (LRC) is set to call employers and union representatives into discussions on the scheme on Friday and, according to correspondence seen by Industrial Relations News, LRC chief Kieran Mulvey has told both sides the talks will address a number of issues, including:

nWhether the pension scheme, the Irish Airlines Superannuation Scheme (IASS), which covers workers and former workers in Aer Lingus, DAA and SR Technics, can be continued either as a joint employer or single employer scheme and what the implications would be for employers and pensioners if it was terminated;