Eugene Murphy (Roscommon-Galway, Fianna Fail) | Oireachtas source

I join Deputies Eamon Scanlon and Mary Butler and other Members of the House in commending Deputy Willie O'Dea for bringing this Bill before the House this evening. Anyone who knows Deputy Willie O'Dea will be aware that he has studied this issue well. He has done his work on it. We have all seen what has been happening to workers in recent times. I am sure workers who have made contributions are asking themselves why they are suffering. We are now seeing people who were fortunate enough to have had jobs all their lives having to sign on at the age of 65 until they reach the pension age of 67. Workers are the victims in these schemes. It is totally unacceptable that honourable workers have lost out on pension funds into which they have paid. The last Government did untold damage to such workers.

The closure of defined benefit pension schemes by large solvent companies must be addressed. We have seen a number of companies winding down defined benefit schemes to the detriment of their workers. This legislation seeks to ensure companies that are in a healthy state live up to their responsibilities. We accept that companies can get into difficulties. Many companies that are in a healthy state should not be allowed to avoid their responsibilities. My colleagues have mentioned Independent News & Media. Deputies Mary Butler and David Cullinane spoke about Waterford Crystal workers. Many people who have made major contributions to this country's economy have suffered as a result of what has happened. Profitable companies must be prevented from winding up their defined benefit schemes.

I was disappointed to read through the document that was circulated by the Minister, Deputy Leo Varadkar, this evening. As Deputy John Brady said, the Minister's document gives the impression that there is not much he can do. Every page of the document is very negative towards workers. I have to say it is not the stuff of a would-be Taoiseach. I hope the Minister does not mind when I say that. He more or less said he could not do anything about these problems. He contradicted himself in one respect. I suggest he acknowledged that there are problems in this regard when he said:

Further steps can and should be taken regarding the funding standard. Following discussions between my officials, the Pensions Authority, the Society of Actuaries in Ireland and the Irish Association of Pension Funds, the Pensions Authority will shortly bring forward proposals to allow some additional flexibility for defined benefit schemes and to tackle some of the difficulties with the current operation of the standard. I intend to consult employer and union representatives on these proposals before making any changes.

However, he concluded by telling the House with regret that he was unable to support the Bill.

It is quite clear from what has been said this evening by Deputies on all sides of the House that the Government will lose a vote on this Bill on Thursday if it does not reconsider its approach in this regard. This matter must be addressed because workers throughout this country are being treated most unfairly. I emphasise that companies that can live up to their responsibilities from a financial perspective should not be allowed to use the back door to evade those responsibilities. I fully commend Deputy Willie O'Dea for the introduction of this sensible and reasonable Bill. This is no more than what we should be doing for workers up and down this country who deserve these protections. We should not let them down.

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