Enda Kenny (Mayo, Fine Gael) | Oireachtas source

The first thing we have to do is to determine the facts and the circumstances that apply. I referred to the consequences of light touch regulation and the financial downturn which have affected thousands of workers. Clearly, the Deputy agrees with this. It is wrong to expect workers to contribute under a employment contract to a defined benefit pensions scheme from which they may never draw a pension. I regard that as immoral. It is just ten days since the deadline passed for the submission to the Pensions Board of proposals by employers in respect of defined benefit pension schemes. It is only right and proper that we ascertain the absolute facts. I have heard some figures being bandied about, but we need to know the facts and I expect the Minister for Social Protection to bring to the Cabinet her analysis of the responses submitted. The Cabinet will then have to reflect on them.

The recent decision of the European Court of Justice in the Waterford Crystal case means that there is a great deal of work to be done before the Government can arrive at a comprehensive policy and a legislative framework to deal with the issues affecting defined benefit schemes in general. The Deputy is aware of this. The issue has been ongoing for many years and there have been a few serious court cases about it. We do not want to have a situation where the taxpayer becomes the paymaster for all of these schemes.

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