Róisín Shortall (Dublin North West, Labour)

The Minister is wrong in her interpretation of the matter. She has failed to take any action on the pensions timebomb. I remind her of the significant judgment of the European Commission in respect of the Robbins case. The ECJ found that member states could be liable for pension shortfalls in the event of manifest and serious disregard of their obligations to ensure minimum levels of protection for employees' pensions. The Minister has admitted a €30 billion shortfall in defined benefit pensions. That is a manifest and serious disregard for her responsibilities, in so far as she has failed to take action and allowed 18 months to lapse since the publication of a Green Paper and she does not seem to accept that she is exposing the State to serious claims from pension funds that are wound up. In Waterford Crystal people have been paying into a pension fund for up to 30 years and there may be no money now to pay their pensions. In that event, a case will be taken against the Minister and the State for failing to ensure adequate protection. When will the Minister take action on the pensions timebomb?

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