Sheila Terry (Fine Gael)

I raised the issue of pensions in the past two weeks and requested a debate in respect of it. I take no pleasure from raising it again today. However, the Taoiseach stated last week that employers have got it wrong in respect of pensions. I presume he was referring to how they are changing their pension schemes from those based on defined benefits to those based on defined contributions. I am amazed the Taoiseach informed employers they got it wrong. In my view, he, the Government, the Pensions Board and the pensions industry have got it wrong. The Taoiseach must take responsibility for changing legislation to allow employers to do what they are now doing. I do not condone what employers are doing and I made that point on several occasions in the House. However, they are doing nothing wrong and are able to use the legislation to their own benefit. The Government, the Taoiseach and the Pensions Board have not taken action to protect the interests of workers.

Before coming to the Chamber, I listened to "Liveline" with Joe Duffy. Pensioners who previously worked in the public service, in State and semi-State bodies and in the private sector rang in to complain about their pensions. These people are at last waking up to the fact that they have been let down by the Government, which is responsible for looking after the interests of future pensioners — it is not doing so — and encouraging young people to take out pensions.