David Norris (Independent) | Oireachtas source

It is inhuman to expect pensioners who have worked for 40 years to experience a cut of 60%. I would very much like to hear the Labour Party on this point.

With regard to the pensions, will the Government carry out an investigation into the administration of the IASS fund? It is disgraceful. I was provided with a comparison sheet, between IASS, AVIVA, Davy Assets, Friends First, Kleinwort B., Merrion, New Ireland, Setanta, Standard Life and Zurich Life. They all are well-up over what they were in 2007 but the IASS is still down, at 67%. This represents a disastrous investment policy on behalf of the administrators of the fund. There was legislative interference from the Government in this area to deprive people of their pensions. This is what set up Aer Lingus for sale in the first place. It could not have been sold with this pension issue hanging around its neck.