Kevin Humphreys (Dublin South East, Labour) | Oireachtas source

Pensions legislation was to be introduced to change the priority of pensioners' benefit following the winding up of defined benefit schemes. It was to effect change regarding the 100% priority given to pensioners, allowing for a better return to existing and former employees who have not yet retired. I have been contacted by a number of people who face the winding up of their pension funds on 2 May after having made contributions to the funds for over 20 years. They face circumstances in which only 20% of their funds will be left. Legislation was promised to balance this out, especially given what happened with Waterford Glass. What is the current position on the legislation? Unfortunately, it will not come through quickly enough for the people who are to see their defined benefit pension schemes wound up on 2 May.

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