Bríd Smith (Dublin South Central, People Before Profit Alliance) | Oireachtas source

Workers in Irish Life are picketing their workplaces today in the lashings of rain. They want to know when this Dáil will do its job and pass legislation that stops employers who are in good health and whose pension schemes are very wealthy walking away from such schemes and pushing defined benefit schemes out of the equation. Ireland seems to be unique in not having legislation that prevents employers from ditching and undermining pension schemes. In January, I asked the Minister for Employment Affairs and Social Protection when the Social Welfare, Pensions and Civil Registration Bill 2017 would be processed through the Dáil.

By 30 June, Irish Life will ditch the defined benefit scheme for these workers unless their strike wins and unless we, in the Dáil, complement that by pushing forward legislation. It does not just have the effect of undermining the pensions of workers in Irish Life, but there are more 110,000 workers on 460 defined benefit schemes. Open season has been declared on these schemes with €41 billion in assets. What sort of greed does it show that we are allowing that to happen? We are unique in Europe in not having legislation that protects workers in these schemes.

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