Catherine Murphy (Kildare North, Social Democrats) | Oireachtas source

On the same issue which Deputy Willie O'Dea raised, namely, the deferred benefit pension in situations in which there is a solvent company, the Taoiseach is incorrect about the situation in the UK. In the UK a solvent company cannot walk away from a defined benefit pension scheme. Does the Taoiseach not accept that there is a gap in the law? Independent News and Media has had the benefit of having more than €130 million written off by AIB and Bank of Ireland. People who have worked in the industry and who have deferred their pensions are being left very exposed due to the gap in the law. The matter is urgent. Other companies are doing exactly the same. Does the Taoiseach not see that there is an urgent need for legislation to address the gap in the law?

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