Jim Walsh (Fianna Fail) | Oireachtas source

I second the amendment.

In terms of pensions, there have been instances in which people with deferred pensions and others have been disadvantaged and left feeling totally unrepresented. Many of these people have given long service to the company that they were part of and had paid subscriptions to their unions for many years. They felt a bit betrayed and unrepresented when agreements were subsequently reached between existing employees, through their union representatives, and the company. In certain instances, such agreements have left the people to whom I refer at a disadvantage. Major companies have been involved in that regard. I refer to cases in which employees who were retiring, perhaps with deferred pensions or whatever else, suffered as a consequence. I know that pensions are complex. However, there is a lot of work that needs to be done, because this area of pensions has not been addressed at all. The Tánaiste could have placed much greater priority on the area. It is an absolute shame that so many people, particularly in the private sector, do not have a pension. In time to come they will find themselves in a fairly serious pecuniary position when they reach retirement age. All Members have had people make representations to them and complain about the manner in which these people were disadvantaged in their pension fund and that fact that their justifiable expectations, based on the contributions they had made, were not honoured. One of the great things in industrial relations is the fact that if one gives one's word and makes an agreement one maintains it, but if one does not then one does not unilaterally abandon the initiative, which is what happened in the case of retired people. I am surprised that the proposer of the amendment did not make a greater case for it.