Finian McGrath (Dublin Bay North, Independent) | Oireachtas source

I take on board the views of Deputy Willie O'Dea. There are 1,200 workers and they have been paying into their scheme for a lifetime. If they are facing the loss of one third of their pensions, we must take it very seriously. I also take on board the Deputy's points on the risk issue. The Deputy said the company had a profit of €200 million, going to shareholders, and that the pension scheme value was in the region of €240 million. There is protection needed for the workers.

With regard to the legislation, the Minister is determined to have it enacted by the end of May, or by June. I will raise the other issues with the Minister. If the representatives of the unions representing the staff would like to meet her, I will request it. It is not acceptable to have 1,000 workers in the circumstances described. We have to act. The legislation is really a priority.

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