Oireachtas Joint and Select Committees

Wednesday, 25 January 2023

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

General Scheme of the Industrial Relations (Provisions in Respect of Pension Entitlements of Retired Workers) Bill 2021: Discussion

Mr. Gerry Foley:

We see the pensioners' organisation being at the table even in respect of the health of the pension scheme. At the moment, nearly the majority of stakeholders, with regard to the numbers in the pension scheme, and many pension schemes, are totally excluded from the process. Trustees have a fiduciary duty to ensure that all members of a pension scheme are treated equally. As my colleague, Mr. Collins, referred to recently, in this situation, there are two schemes in operation within one pension scheme. There is one for active members and one for retired people. It is essential that the voices of retired workers are heard in every aspect when pensions are being discussed, whether it is the health of the pension or the need to attend to a deficit in the scheme, etc. They must have their input, which is what we are seeking from the committee.

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