Aengus Ó Snodaigh (Dublin South Central, Sinn Fein) | Oireachtas source

Táimid ag déileáil le ceist mhór a dhéanann tinneas do go leor daoine sa tír. Bíonn gach duine buartha faoi phinsin. Sa chás seo, táimid ag déileáil le dream áirithe oibrithe atá thíos leis de thairbhe an teip sa geilleagar. Bhí siad ag tnúth le pinsean réasúnta a fháil ag deireadh a saol oibre chun iad a chothú agus iad ag dul in aois.

De ghnáth, déanaim gearán nó casaoid leis an Aire faoin mhéid a bhíonn os ár gcomhair. Leanann sé sin ón seasamh atá glactha ag an Rialtas i dtaobh sochar leasa shóisialta go dtí seo. Sa chás seo, níl mé ag teacht salach ar an Aire. Aontaím gur chóir dúinn díriú ar na pinsin seo - pinsin le sochair sainithe, seachas pinsin le ranníocaíocht sainithe. Tá sé aitheanta le blianta fada go bhfuil fadhb ann sa chomhthéacs seo. Ba chóir dúinn déileáil leis an gceist seo agus leigheas a fháil air más féidir. Mar a dúirt mé, níl mé ag cur i gcoinne an Bhille seo. Tacaím leis. Measaim gur chóir go n-imeodh an reachtaíocht seo beagáinín níos faide i dtreo an bealaigh a luaigh an tAire Stáit i mí Dheireadh Fómhair 2011 nuair a labhair sí faoin ábhar seo. Beidh sé spéisiúil ar Chéim an Choiste nuair a bheimid ag caint faoin bhfáth nár bhain an tAire amach an moladh nó an tuairim a bhí aici ag an am sin. Measaim nach bhfuil an tuairim sin le feiceáil anseo. Tá sé tábhachtach, áfach, go dtuigeann muid go bhfuil céim mhór tógtha anseo. As the law stands, in the event of a defined benefit pension scheme wind-up, pensions and payments must be fully discharged, no matter how lavish, before a single penny is allocated to future pensioners, however close to retirement they may be and however modest their pension expectation. It means that someone who might have expected to draw a pension in a year could be left with no pension, while someone who retired a year ago will still be paid in full. The fairness of this was always questionable. This is wrong and every Member accepts there is a need to change it.

A gold-plated pension is one worth more than €60,000 a year. Such a pension can be often matched with a State contributory pension for which most defined benefit pensioners would also qualify. That is twice the average wage. One must remember that the State subsidised these gold-plated pensions in the form of tax foregone and tax relief regimes over the years. We must be always careful that we do not facilitate the private over the public good in public policy. This legislation may get the balance right in this regard.

It is agreed the burden of risk is not shared fairly under pension law. The priority order in the event of a pension wind-up also needs to be changed, and this is also addressed in the legislation. Deputy O’Dea asked why we had to wait so long for the legislation. It was too long a wait for some of those defined benefit schemes which were already in crisis. Up to 50,000 people under 65, according to the Irish Brokers Association, have already wound up with no pension or just a tiny retirement fund far short of their expectations because of their schemes becoming insolvent. There is no relief for these people as there is no retrospective aspect to this Bill. I have several proposals which might ameliorate these funds which can be dealt with on Committee Stage, such as funds being asked to purchase State contributions to ensure those affected without full contributions can avail of the State contributory pension. It is the case that many employees before 1996 were paying the wrong stamp.

The Minister referred to historic cases of pensions being wound up. There is nothing historic about people in their 50s and 60s in employment facing a bleak future due to insufficient pension funds in their retirement. Many of them will end up dependent on the State non-contributory pension due to no fault of their own. While the Bill’s introduction is late in the day for those affected and, lacking as it is, it does represent an improvement. Saying that, it does not get the balance right. It is not, as the new Dublin south-side term states, amazeyballs.

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