Aer Lingus says staff may only get 4% of pensions

Tuesday 09 October 2012 23.21
There is a deficit of almost €750m in the IASS pension scheme
There is a deficit of almost €750m in the IASS pension scheme

Aer Lingus has told the stock exchange that members of the Irish Aviation Superannuation Scheme who have not yet retired could receive as little as 4% of the pensions they expect.

This could be the case if the deficit of almost €750m in the pension scheme is not addressed.

The news comes nearly two weeks after SIPTU called off a strike at Aer Lingus and the Dublin Airport Authority to allow talks on the deficit in their joint pension scheme to continue.

Last week, unions claimed that Aer Lingus would have to contribute up to €200m, and the DAA €130m, to resolve the deficit.

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