Clare Daly (Dublin North, Socialist Party)
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185. To ask the Minister for Finance if he will intervene with the Permanent TSB in order to ensure that workers' pension benefits are protected under the defined benefit scheme and to ensure that those accountable for bad investment decisions and under funding are held accountable rather than the innocent members of the scheme. [22312/13]

Michael Noonan (Limerick City, Fine Gael)
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As the Deputy will be aware the pension arrangements for the staff of Permanent TSB are a matter for the management of that company and for the trustees of the relevant pension schemes. I understand that the proposal by the company to the trustees concerning the defined benefit pension schemes may be referred to the Labour Court although that would be an issue for the various interested parties.

As the Deputy will appreciate there are a number of factors that led to deficits arising in the defined benefit schemes at Permanent TSB. The first priority must be to reach a resolution to the issue.