Mary Lou McDonald (Dublin Central, Sinn Fein)
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Question 79: To ask the Minister for Finance if he deems it appropriate for public servants to take up new positions within the public service on retirement from a previous position whilst in receipt of a pension; and his view that appropriately qualified unemployed persons should be given the opportunity to take up work within the public and civil sector as it arises.

Michael Noonan (Limerick City, Fine Gael)
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All State Savings money is placed directly with the Irish Government. Repayment of all NTMA State Savings money, which includes principal, interest and bonus payments if due (or, in respect of Prize Bonds, cash prizes), is a direct, unconditional obligation of the Government of Ireland. State Savings is the brand name used by the National Treasury Management Agency (NTMA) to describe the range of savings products offered by the NTMA to personal savers. The suite of State Savings products includes savings certificates, savings bonds, prize bonds, national solidarity bond, instalment savings and deposit accounts such as the ordinary deposit account and the deposit account plus. An Post and the Prize Bond Company are agents of the NTMA for the operation of the State Savings schemes. However, neither An Post nor the Prize Bond Company retain or manage any State Savings money. All State Savings money is a part of the national debt which is under the management of the National Treasury Management Agency. Ireland has never contemplated the possibility of defaulting on its sovereign debt and this position has been restated on several occasions. The Government, without any question, will fully honour all its legal obligations to its creditors and has no intention whatsoever of allowing a default. NTMA State Savings products have been an important and dependable component of Government borrowing for many years and make a valuable contribution to the national finances.