Oireachtas Joint and Select Committees

Thursday, 12 December 2013

Committee on Education and Social Protection: Select Sub-Committee on Social Protection

Social Welfare and Pensions (No. 2) Bill 2013: Committee Stage

10:50 am

Photo of Clare DalyClare Daly (Dublin North, Socialist Party) | Oireachtas source

Deferred scheme members, however, up to a number of years ago, had the same protection as existing pensioners. I know that situation is complicated by the fact that it is the existing pensioners who are now taking a hit in this legislation and they were not exposed previously. It is a case of balancing interests, particularly in situations where schemes unravel, as with the IASS scheme, where the LRC sat down and discussed the pension scheme with groups of employees and came up with proposals which will have a devastating impact on deferred pensioners but that group did not have a voice at the negotiating table. I do not know how that can be factored in to the legislation before us. Is the solution, in terms of the priority order, putting the deferred pensioners on a par with the existing pensioners? I do not know if that is the solution or whether it can be considered. Perhaps the solution is to give deferred pensioners a right of audience when these matters are being negotiated. Some of the proposals being put to deferred pensioners at the moment will see them experiencing a drop of up to 50% in their pension entitlements compared to their pension expectations. That is an appalling situation for such people and they are being deprived of the right to have a say in the matter. The Minister indicated earlier in the debate that this issue could be examined further. I am not sure if we can deal with it now or on Report Stage but it must be taken into account here.

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