Irish trade union Siptu has blocked a proposed solution to the €750 million deficit in the pension fund operated jointly by Aer Lingus and the Dublin Airport Authority (DAA). The Government-backed proposal was initially supported by Aer Lingus and the DAA. Siptu’s committee has not stated why it was rejecting the panel’s report. The Government panel requires both Aer Lingus and the DAA to increase their contributions to a new pension fund that will replace the insolvent Irish Airlines Superannuation Scheme defined benefit plan.
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