AER Lingus has issued a shock warning to its workers that if the hole in its pension scheme is not addressed they could receive only 4pc of their expected benefits.
The airline has issued a statement to the stockmarket on its pension scheme.
It said the shortfall in the pension stood at €748m at the end of May.
According to the Aer Lingus statement, if the scheme had been wound up at that time current employees and those with deferred pensions would have received only 4pc of their expected benefits.
Those already drawing pensions are unaffected.
Aer Lingus is proposing to close the scheme to new entrants and freeze payments for current members.
The airline wants to replace the current pension fund with a defined contribution scheme.
Aer Lingus promised to make a once-off payment to kickstart this scheme if workers agree to pay restraint.
James Reilly Minister for Health
Reeling in the broken promises
“…the day that we don’t keep that promise, the day that we let you down, the day when we let your local services go when there’s nothing to replace it, that’s the day I’ll walk away, I’ll retire.”
Congratulations to Leo Varadkar
Lion Mouth Varadkar appears to be showing some interest in the tourism portfolio. Three vacation over the summer, which included Euro 2012 and the Olympics. In addition, you know he even found the time to look for pay cuts for people on a fifth of his salary.
A Political Joke
Four surgeons are discussing who were the best patients to operate on.
The first surgeon says, ‘I like to see Accountants on my operating table because when you open them up, everything inside is numbered.’
The second responds, ‘Yeah, but you should try Electricians! Everything inside them is colour-coded.’
The third surgeon says, ‘No, I really think Librarians are the best; everything inside them is in alphabetical order.’
But the fourth surgeon shut them all up when he observed, ‘You’re all wrong. Politicians are the easiest to operate on. There’s no guts, no heart, no balls, no brains, and no spine, and there are only two moving parts – the mouth and the arsehole – and they are interchangeable’
Leo Varadkar/Cycle Routes
Minister for unused roads Leo Varadkar has instructed the national road’s authority to examine possible future cycle paths. The first proposed public route is Dublin/Galway. The Minster stated he would shortly implement this scheme, as there was no money left in the country to pay for fuel as the Government has now given away all domestic fuel to maintain the statues quo with offshore fuel.
New figures from the Central Statistics Office show that inflation rose to 2% in the year to August.
How can one believe figures when nobody has any money left to spend? Inflation is now the end product to the myth of disposable income.
We invented the game and it’s not right that those Irish teams keep winning…………im going to tell my mummy and take my ball home, so there!
Siptu workers at Aer Lingus to strike
This is unlikely to happen, as SIPTU were unable to find any genuine workers.
Get lost’ says Adams
They should be told to get lost.”
Surly Jerry you mean disappeared.
Department of Health explanation on emotional disorders
A nervous wreck: a man who has a house payment, a truck payment, a wife and a girlfriend…. and they’re all a month late!