Ms Eileen Sweeney:

My understanding is that most of the occupational pension schemes in Europe are insurance based. Ireland, the UK and the Netherlands tended to have a DB pension scheme. We have a DB scheme. They are protected. There is considerable income protection and security in employment. In our scheme, the cuts did not apply to the UK people or non-Irish pensionable service. There is more protection. We were the only ones who were hit.