Joan Burton (Dublin West, Labour) | Oireachtas source

I believe the Deputy misunderstands the point, which was also raised by Deputy Richard Boyd Barrett. In circumstances where the average pension is €10,000 we have sought to provide 100% protection for pensions of up to €12,000, save for arrangements that may apply in particular circumstances, for example, lump sums. That is what the legislation seeks to achieve. Pro rataprotection is provided in respect of higher levels of pension provision.

See this speech in context