The Labour Court recommended changes to pension arrangements for active staff represented by the Irish Congress of Trade Unions, Group of Unions, at Dublin Airport Authority and Shannon Airport Authority. The recommendation, signed on 24 May 2013, included a transfer-value enhancement of €750,000 and an additional payment to secure 65% of the uncoordinated pension element.
The dispute concerned the Irish Airlines (General Employees) Superannuation Scheme, which had an estimated deficit of €779 million at 31 December 2012. The Court recommended providing the lump sum over five years and an underpin for eligible active employees who retired by 30 June 2018.
It also recommended employer contribution rates ranging from 7% to 10% and employee rates from 5% to 8%, a five-year freeze on pensionable pay and assurances for Shannon Airport Authority staff. For ill-health pensions, it recommended a one-year qualifying period.