Dominic Hannigan (Meath East, Labour)
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To ask the Minister for Finance if it is possible to introduce legislation to reduce the pensions of professionals who were working in State funded banks; and if he will make a statement on the matter. [50595/12]

Michael Noonan (Limerick City, Fine Gael)
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The Government shares the abhorrence of the public at these extravagant pensions but its scope for action to claw back or reduce such entitlements is limited due to constitutional and legal reasons which are well known to the members of the House. Pensions are generally taken to be deferred income and any action to reduce a pension in payment needs to be comprehensively founded lest it run the risk of being considered an unjust attack by the State on the property rights of individuals affected by the proposed legislation. The Government will seek to explore any avenues and options to address this issue subject to the necessary legal constraints.