Mary Hanafin (Dún Laoghaire, Fianna Fail)

The long-term measures are also crucial. We will bring that proposal forward within the coming weeks. I know Deputies will say they have heard that before.

A number of key questions were asked which I would like to address and I have only a few minutes to speak. Deputy Enright asked about imposing an income limit. Bearing in mind that scheme members have paid into the scheme according to their salary obviously those who pay more into it will receive only the proportion of the benefit to which they are entitled. If a scheme is in deficit those on higher salaries will take a greater overall loss of money. Most of the schemes are quite separate. The higher executives have their own scheme and the workers a separate one so a limit would not necessarily have any great impact.

What is to happen the money and what will the Department of Finance do with it? There will not be a separate fund for it. Money will be absorbed into the Exchequer but the pensions will be paid on a pay-as-you-go basis for the pensioners.

Is there a definition of deficit? Any scheme in deficit will qualify so there is no particular definition as to how much one has to be in deficit.

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