Airport pension managers collected €33,000 a week as fund nosedived

Investment managers were paid €17.2 million even as the scheme fell into an €800 million deficit, writes Fearghal O’Connor

30th December, 2014
Protesters outside Leinster House in Dublin in September 2005: the pension scheme controversy has been rumbling on for more than a decade

Investment managers for the crippled airport pension fund earned on average €33,000 per week over the past decade, even as the scheme descended into an unworkable €800 million deficit.

In the ten years to the end of March 2013 the Irish Aviation Superannuation Scheme (IASS) paid out €17.2 million in investment fees, figures obtained by The Sunday Business Post show.

During that time the fund sold a lucrative property portfolio just as the Dublin property market...

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