Kieran O'Donnell (Limerick East, Fine Gael)

Public sector employees regard the pension levy as unfair and want to know whether the moneys raised under the levy will be allocated to a public service pension fund. The National Pension Reserve Fund was established by former Minister for Finance, Mr. Charlie McCreevy, to fund public sector and social welfare pensions from around 2025 onwards. The problem with the proposed pension levy is that it appears to be a revenue collection mechanism and there is no indication that it will be used to fund pensions in the long-term. We have a pensions time bomb and the Minister must clarify the questions raised by Deputies Bruton and Burton.

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