David Norris (Independent) | Oireachtas source

I welcome the Minister, who makes very reasonable arguments. She has indicated that she has brought in this legislation to help defined benefit schemes help themselves, with changes made to give the trustees of defined benefit schemes options and help them improve their funding position. My only difficulty with that is it seems to rebalance the equation in favour of the trustees and against the pensioners. The trustees are people charged with the responsibility of looking after this money.

The Minister also indicates she is relieved that the position is "not as catastrophic" as feared and 40% of schemes are fully funded; that sounds fairly catastrophic to me. Perhaps it could be much worse but by God that is a frightful indictment of the people in control of these schemes.