Micheál Martin (Cork South Central, Fianna Fail) | Oireachtas source

Nobody represented the deferred pensioners in any of the negotiations or discussions, and they have taken the biggest hit.

The Taoiseach can work that out for himself because it is fairly obvious what happened. The pensioners have taken a hit as well, amounting to six weeks' pay. In addition, the pension levy which was imposed three to four years ago has resulted in a 2.5% cut - forever - in their temporary pension entitlements. That levy should never have been brought in because it has significantly undermined many pension schemes.

Two years ago, the Social Welfare Bill facilitated single insolvencies, which basically allows profitable companies to run down their pension schemes. In essence, a roadmap has been given to such companies to do just that in future. Through the signing of the commencement order, together with the Government's legislative intervention, a Trojan horse has essentially been created. We will see more of this emerging in the coming years concerning other companies and other pension schemes.

By any objective yardstick or criterion, the way this is being worked out simply is not fair. I do not see how anybody could suggest it is fair if those in a particular grouping lose 50%-plus of their pension entitlements. Will the Taoiseach say whether the Tánaiste was aware that the Minister for Transport, Tourism and Sport, Deputy Donohoe, was going to sign the commencement order on Monday evening? Discussions were going on with the members' representatives with a view to identifying potential fairer outcomes and resolutions. Is the Taoiseach simply saying he is not in a position to intervene or do anything to effect a fairer outcome to this situation?

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