Susan O'Keeffe (Labour) | Oireachtas source

I regret the fact that this has happened. Unfortunately, my regret will not help anyone whose pension is cut in this circumstance. I appreciate the difficulties that have arisen in the scheme. This has gone on for a long time. Like my colleague, I am not an expert in pensions and I not going to pretend that I am. I would share Senator Barrett's concern that perhaps there ought to be an investigation. I do not mean a long-winded investigation that goes on forever. However, as Senator Power has said, how can it be that people who worked all their lives now find themselves in a position where their pensions are cut? They paid for their pensions and now they find themselves in this inexplicable position.

As the Minister said in his speech, and has already been stated, by and large responsibility for this scheme lies with the trustees. Nonetheless, the Government has intervened and this is the outcome. I can only express my regret that this is the outcome and say to the Minister that I do not know if there is any alternative. I do not know if anything else can be done. I know the unions have voted and that is the outcome. I do not have enough knowledge of pensions to challenge it on that level. I have never set myself up as having that expertise. I generally do not tend to speak on matters on which I do not have any knowledge. However, I do regret what has happened here.