Catherine Ardagh (Fianna Fail) | Oireachtas source

I refer to the lack of protection for private defined benefit pension schemes, particularly the Irish News and Media, INM, pension scheme dispute. Last week the Minister for Social Protection, Deputy Leo Varadkar, sought legal advice from the Attorney General in an effort to intervene in the dispute. It was a very admirable move by the Minister who said: "I have asked the Attorney General if I can intervene on behalf of the public interest in this case to essentially ask the courts to do what was done previously in relation to Aer Lingus, for example, where the company would have to engage and negotiate with the trustees before going ahead with this." Today I ask the Minister to be a super-hero again in this House where he will actually have an opportunity to bring forward legislation to protect defined benefit pension schemes. Senator Alice-Mary Higgins has tabled an amendment to the Social Welfare Bill which was previously tabled by Fianna Fáil in the Dáil and the Seanad to prohibit the closure of a defined benefit pension scheme, except where it has reached a minimum funding figure of 90%. The amendment has been ruled out of order. However, I call on the Minister to support a Bill that will be tabled by Fianna Fáil very early in the new year which will reflect the body of that motion. I ask him to make a very firm commitment that he will support the Bill which will deal with the protection of defined benefit pension schemes before any more are closed. This is a matter which needs to be addressed promptly.