Willie O'Dea (Limerick City, Fianna Fail) | Oireachtas source

I take the Minister's point about these being voluntary and depending on the willingness of the employer to engage in them, but everything the Minister has said applies equally to the defined benefit schemes in the United Kingdom. The UK has introduced legislation to prevent a solvent company from winding up a defined benefit scheme until such time as it makes up the deficit that is owed to the scheme. Why is Ireland different to the UK? If the UK can do it, surely Ireland can follow suit. If it is right and fair and proper that it should be done by our neighbouring jurisdiction, what is the insurmountable barrier that is preventing us from doing it here? Has the Minister taken any cognisance of how the system has worked in the UK? What has he learned from that? Does he not think that such a system could be used here, with the appropriate adjustments for the particular circumstances in Ireland?

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