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22/05/2013
Fianna Fáil Say Pension Bill Will Be 'Massive Disappointment'
The Social Welfare and Pensions Bill, being published today, will be a “massive disappointment”, Fianna Fáil TD Willie O’Dea has said.
The Spokesperson on Social Protection said: “The contents of the Social Welfare and Pensions Bill will be massively disappointing for tens of thousands of pension scheme members in Ireland. The Minister has once again failed to change the priority order for Defined Benefit Pension Schemes.
The minister said that people who have already retired will benefit from “priority on assets of insolvent pension funds ahead of colleagues that are still working.”
Adding: “People who have been working all their life faces the prospect of a huge reduction or even a total loss of pension entitlements while former executives of companies are guaranteed to receive very generous pensions.
O’Dea criticised Joan Burton, minister for Social Protection, for failing to address the issue despite committing on two occasions to do so.
“Minister Burton needs to bring forward the reforms of the pension schemes she has promised as the future of thousands of pension schemes hangs in the balance,” he said.
(MH/CD)
The Spokesperson on Social Protection said: “The contents of the Social Welfare and Pensions Bill will be massively disappointing for tens of thousands of pension scheme members in Ireland. The Minister has once again failed to change the priority order for Defined Benefit Pension Schemes.
The minister said that people who have already retired will benefit from “priority on assets of insolvent pension funds ahead of colleagues that are still working.”
Adding: “People who have been working all their life faces the prospect of a huge reduction or even a total loss of pension entitlements while former executives of companies are guaranteed to receive very generous pensions.
O’Dea criticised Joan Burton, minister for Social Protection, for failing to address the issue despite committing on two occasions to do so.
“Minister Burton needs to bring forward the reforms of the pension schemes she has promised as the future of thousands of pension schemes hangs in the balance,” he said.
(MH/CD)
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