Joan Burton (Dublin West, Labour) | Oireachtas source

As I understand it, what we are trying to do relates to how the changes may be applied. As the Deputy is well aware, how they are applied is a matter for the trustees of the scheme who are required under trust law to act in the best interests of all of the scheme beneficiaries. I am sure the Deputy is aware that the scheme beneficiaries include approximately 5,000 retired members, 5,000 current workers in the companies linked to the scheme and 5,000 deferred members, some of whom may be affected. The current deficit in the scheme is €769 million. I understand that arrangements are being made to attempt to deal with the issue of the deficit. The 15,000 people involved, including those currently employed in the different companies that are party to this scheme, are taking very significant reductions in order to enhance the viability and sustainability of a pension scheme that has a deficit of €769 million. It is a terrible misfortune for all the people involved. I think the Deputy will appreciate that I am not in a position to comment in detail on matters arising in a particular pension scheme that are currently matters for the employers and the trustees.