Today, I met with representatives of the Retired Semi-State Associations representing 70,000 former workers to hear about the legislation needed to protect their pension rights.
Former workers who provided the state’s electricity, gas, peat, radio and television, telecommunications, aviation and a myriad of other state services want their pension rights enshrined in law.
The State bodies include ESB, RTE, CIE, Bord Gais, Eircom, Coillte, Aviation Staff and Port and Docks. These pensioners have devoted their working lives for the benefit of the state and it is wrong that because they are former workers their rights, under their contract of employment are ignored.
These Pensioners have nowhere to go. They do not have any body or organisation to refer to with grievances. The industrial relations mechanism of the State are not available to them and the equality tribunal has a 12 -month time bar which is ludicrous and is impeding them seeking justice.
These people just want their money but under current legislation there is no obligation on Employers to fund deficits in their pension schemes so there’s is no real protection for these pensioners against efforts by solvent employers to renege on responsibility to their pension schemes and address a fund deficit.
Many individuals and families right across Mayo are impacted by this. The financial stress imposed on them after working all their lives is plain wrong. They are at a time in their lives where their past work should be rewarded. They are not looking for state money, just their own money back.
The proposed new legislation to be introduced in the Social Welfare, Pensions and Civil Registration bill 2017 is an opportunity for the Minister Doherty to introduce full legal protection for these pensioners.
There must also be financial consequences for solvent employers who abdicate responsibility for their pension schemes and fail to make contributions to resolving Pension Fund deficits.
The ‘debt on the employer’ concept for the unresolved Pension Fund deficit is urgently required and must be enshrined in Irish Pension Law without further delay.
Semi State defined benefit pension schemes differ from private sector defined benefit schemes in that they were established by statute, therefore, I am calling on the Minister for Finance, Paschal Donohoe, to use his significant powers over the regulations, management and investment policies to make the necessary changes. All people want is their own money back. They have had no increase since 2008 and a 2.5% levy for life has been imposed on them.
