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Aer Lingus Early Retirement Package will join employees to troubled defined benefit pension scheme – Morgan

2 December, 2008


Sinn Féin Workers' Rights Spokesperson Arthur Morgan TD has called on the Minister for Transport to review Aer Lingus' decision to implement an early retirement package, which will join more employees to their defined benefit pension scheme at a time when it is reported that thousands of these schemes are under threat amid global financial turmoil.

Speaking in the Dáíl today Deputy Morgan said, "The Minister for Transport should use his influence to review the Aer Lingus decision to implement an early retirement package, which will join more employees to their defined benefit pension scheme, at a time when markets are in turmoil and it has been reported that a number of pension schemes will collapse over the next six months.

"We have already seen that Aer Lingus' supplementary scheme has lost close to €14million in just six months according to a union report. Adding more people to the pension scheme would add further pressure to an already severely strained fund." ENDS

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