Seanad debates
Thursday, 17 November 2011
Social Protection: Statements, Questions and Answers
4:00 am
Joan Burton (Dublin West, Labour)
We need to have a series of pathways. While people want to do something useful and gain work experience, there ought to be the balance we talked about during the JobBridge debate. We must ensure employers do not exploit the system and that people get an opportunity. Under JobBridge there is, in almost all cases, a good balance. I have arranged for the evaluation of JobBridge.
The cost of pensions was raised. I raised it as soon as I became Minister. I have asked for a very detailed study to be undertaken in regard to pension costs. There are grave difficulties, particularly with regard to defined benefit pension schemes. Senator Mooney asked about annuities. There are proposals being worked upon actively in relation to a kind of blended annuity with the support of the NTMA. The current turmoil on the markets is such that every time it seems some stability is established, problems become worse. That has been extraordinarily difficult for defined benefit schemes.
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