Sheila Terry (Fine Gael)

Some time ago, I asked the Leader to arrange a debate in the House on pensions. I ask again for the debate in light of the debacle of the handling of endowment mortgages by many financial institutions. We must take a very serious look at the way many financial institutions manage endowment mortgages and pensions. It is a very serious issue which is becoming more serious by the day. I have information from the Pensions Board that many companies are considering winding up their pension schemes and that many schemes are underfunded. Many of those who expected in their later years to draw the pension into which they have paid for a long time are now finding that those pensions are completely underfunded or will not even exist when they retire. I ask the Leader to organise a debate at the earliest opportunity.