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Pension Provisions. (5 Mar 2009)

Róisín Shortall: Is it not the case that the pensions area is yet another in which the Government failed to regulate or address the underfunding issue during the boom? We are now paying the price in so far as no policy is in place and no action has been taken in recent years. Some 500,000 people depend on defined benefit pension schemes, the majority of which are underfunded. This is the Minister's...

Pension Provisions. (5 Mar 2009)

Róisín Shortall: Does the Minister not have a consultant's report?

Pension Provisions. (5 Mar 2009)

Róisín Shortall: It was not. That is not true.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: The Minister is wrong, as the Commission is not satisfied that Ireland has made adequate provision. As a result of the significant Robbins judgment, the UK authorities took immediate action, but we have done nothing. Recently, the Commission stated that, despite a number of EU reports indicating that Ireland was still in breach of obligations, no action has been taken. The Minister is...

Pension Provisions. (5 Mar 2009)

Róisín Shortall: I am discussing the judgment, not the directive.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: The Minister is misleading the House.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: As a result of the ruling, the European Court of Justice found that Ireland had not made adequate provision for pensions. The exposure exists there. It is not just a private matter that the Minister can disown. She has taken no action on the court's finding.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: The Minister supported it.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: We are in the same situation as the UK. It took immediate action after the judgment, but we have done nothing.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: We are talking about yet another study to examine something that is a very good idea for cutting out the middleman. The middleman in the pensions industry is very expensive so there are many advantages to a State annuity scheme. Overall, the problem is that there is no current policy in this area. There are options in respect of the State annuity scheme. There are very attractive options...

Pension Provisions. (5 Mar 2009)

Róisín Shortall: The Minister is wrong in her interpretation of the matter. She has failed to take any action on the pensions timebomb. I remind her of the significant judgment of the European Commission in respect of the Robbins case. The ECJ found that member states could be liable for pension shortfalls in the event of manifest and serious disregard of their obligations to ensure minimum levels of...

Pension Provisions. (5 Mar 2009)

Róisín Shortall: That makes no difference to the funding.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: That is nonsense.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: When will the Minister set out the policy?

Pension Provisions. (5 Mar 2009)

Róisín Shortall: When will there be a decision and action taken?

Pension Provisions. (5 Mar 2009)

Róisín Shortall: There is nothing about funding.

Pension Provisions. (5 Mar 2009)

Róisín Shortall: What about Waterford Crystal?

Social Welfare Code. (5 Mar 2009)

Róisín Shortall: This is very similar to the earlier question from Deputy Enright with regard to the back to education allowance. The back to work enterprise allowance is a very worthwhile scheme which has significant potential. It makes no sense to insist that a person must be on the jobseeker's payment for two years before they can avail of that scheme. The priority in the current climate must be to...

Social Welfare Code. (5 Mar 2009)

Róisín Shortall: That is the one I am asking about.

Social Welfare Code. (5 Mar 2009)

Róisín Shortall: The Minister should not tell me about some other scheme. Will the Minister prioritise the changing of rules of the back to work enterprise allowance?

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