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Ó Snodaigh rejects pension plans that will further eat in to wages

18 April, 2013 - by Aengus Ó Snodaigh TD


Speaking following reports that the government plans to introduce automatic inclusion for people in private pension schemes on the back of OECD proposals leaked today, Sinn Féin Spokesperson on Social Protection, Deputy Aengus Ó Snodaigh totally rejected the idea, saying that “people cannot afford to pay any more.”

The Dublin South Central TD said;

“Sinn Féin totally rejects this proposal which has come from a group of OECD officials. It completely fails to take account that the majority of workers are already paying in to a pension scheme through their PRSI contributions.

“People cannot afford to pay anymore. Between pay cuts, and households where a partner has lost a job and the cost of mortgages going up, there is no more money. A further payment of 15% out of their wages will be catastrophic. Low and middle income earners can’t be expected to give anymore. How does the Government expect them to live? It is entirely out of touch with reality.

“The government wasted the Pension Reserve Fund. An easier way to increase the social insurance fund is to reduce or eliminate tax relief on private pensions. If the Government did their job and got people back to work they would find it easier to fund the pension system.

“Minister Joan Burton needs to shelve the OECD report on pensions and wake up to the reality that people have nothing left to give.”

ENDS

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