Seanad debates
Wednesday, 11 May 2005
Pension Provisions: Statements.
1:00 pm
Ulick Burke (Fine Gael)
I appreciate the Leader's efforts to extend the time allowed for this discussion.
I wish to raise an issue that runs against the trend of all the previous contributions in this debate, which dealt with encouraging people to make pension provisions, particularly to private pension schemes. Farmers made contributions to such schemes, but with very restricted conditions relating to their age at a particular date, namely, 1968. When farmers reached the maximum age for participation in the schemes, they were not allowed to buy back their contributions or to continue with payments. They were caught in a straitjacket from which they could not extricate themselves.
I ask the Minister to consider giving the farmers a buy-back option. Teachers, for example, have had the opportunity to buy back credits over a number of years and other public service employees were also given that option under specific schemes. Those farmers who were caught out by the age restriction, who number only a few, were totally excluded. They received nothing and their contributions were refunded. At best, some farmers got a half pension. I ask the Minister to examine this issue with a view to offering the people caught in this catch-22 situation an opportunity to make contributions to the pension schemes, which they were willing to do. By virtue of the conditions of dates and age, over which they had no control, they lost out.
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