Enda Kenny (Mayo, Fine Gael) | Oireachtas source

The Deputy is talking about two different things. A pension is a pension but a bonus is a bonus. What was raised in the House on many occasions was dealing with very high bonus payments. Pensions are treated differently and are in a different position legally. I have heard comments about the power of shareholders, under section 50 of the Pensions Act, to impose reductions on pensions. Individual shareholders do not have the power under the Pensions Act to impose reductions on existing pensioners.

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