Seán Fleming (Laois-Offaly, Fianna Fail)

There is a bit of time put aside for this and the essence of the Bill is in this sentence. The new scheme will save 35% and the charts that indicate pensioners will be on approximately 80% of current arrangements is not a fair reflection. Some €500 million will be saved from the change to career average earnings and there will be €300 million in savings from people having to work three years longer. The biggest change is that once people go out on a pension, they should not expect any increase in their standard of living. Some €1 billion will be saved on the back of pensions from this, and that is not fair to the people who will work for 43 years.

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