Deirdre Clune (Fine Gael) | Oireachtas source

Last Friday the European Council agreed to start talks with the USA on a transatlantic trade and investment partnership. It is a positive move which represents a great opportunity for indigenous Irish companies across all sectors to export to the huge US market. There is a great deal of work to be done on common regulatory standards and investment rules and I wish all those taking part in the talks well and look forward to a fruitful outcome.

I ask the Leader to provide for a discussion in the House on the annual report of the Pensions Board which was launched by the Minister for Social Protection, Deputy Joan Burton, this week. Pensions are a serious issue for many following the financial crisis. Many who invested in property expecting to make a return to provide for their later years now find that that is not going to happen. People who invested in bank shares and made other provisions for their retirement have been disappointed. There is a great deal in the report and it is important that it be aired in the House, in particular to discuss defined benefit schemes. The report states there is actuarial evidence of a €16 billion hole in defined benefit schemes. In Cork Permanent TSB workers face problems and the European Court of Justice recently issued a decision in respect of the Waterford Crystal workers. Workers at the Irish Independent also have issues. Future pensions provision and the serious difficulties faced by many defined benefit schemes are issues the House should discuss with the Minister.