Marie Moloney (Labour) | Oireachtas source

I was making a contribution in the Seanad so I missed most of the proceedings up to now. I will not pose many questions because I am sure most of the points have been covered. I can read through the transcripts in order to bring myself up to speed.

It may not come within the Department's remit, but what is the position with regard to people such as those who worked for Waterford Glass, who paid contributions to a pension scheme but were then left high and dry? Do such individuals have any comeback? Major charges are being imposed. Will Ms Murphy indicate what these cover? Do they have any impact on the people to whom I refer? Others to whom I have spoken have paid into pension funds for many years and are about to retire. They are concerned that their pensions will not be there when they seek to access them. I accept that those on defined benefit schemes should get a certain amount back but they are concerned that their employers do not have the money necessary to pay their pensions. If the company for whom one of these people works goes bust, what will happen to his or her pension?