IMPACT has welcomed the approval of the IASS pension scheme settlement proposal by Aer Lingus shareholders.
Shareholders approved the settlement by a huge majority at an emergency general meeting (EGM) which took place last week. IMPACT national secretary Matt Staunton said it brings to an end five years of uncertainty for Aer Lingus workers. Matt said “The settlement provides for a decent percentage of income to be available as pensions when workers reach retirement age.”
Matt said that the focus would now switch to the Dublin Airport Authority (DAA). “This remains a live issue for workers in Dublin and Shannon airports. Recent complications have seriously delayed reaching a similar settlement” he said. In November the company unilaterally withdrew proposals relating to the ARSSS (supplemental scheme), which fundamentally changed part of a proposed package, which was to be put to members in a ballot.
Following a meeting with DAA chief executive Kevin Toland, IMPACT is expecting the additional material from the company so that members can be fully informed on the choices they face. The company intends to commence a new defined contribution (DC) pension scheme from 1st January 2015, and has stated it does not intend to offer any additional money as part of the pension proposals.
Matt explained, “We plan to meet members and explain the choices they face, once we are in a position to do so. We also plan to ballot members as soon as we are confident that members are in possession of all appropriate and relevant material.
“We understand that DAA staff will shortly receive additional information from the company and be invited to complete a waiver in order to receive the proposed capital lump sums. We would encourage members to consider carefully the appropriateness of signing the waiver in advance of hearing further updates from IMPACT and the other unions concerned” he said.
