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Broader pension inequality must be addressed – Mitchell

7 February, 2017 - by Denise Mitchell TD

Sinn Féin TD for Dublin Bay North Denise Mitchell has said that legislation is vitally needed in respect of defined benefit pensions and we welcome the changes introduced in a Bill before the Dáil today but we must also not forget the broader pension inequalities in the system.

Deputy Mitchell said:

“The introduction of the Bill on defined benefit pensions is welcome. In regard to these schemes, there is little protection for workers at present when a scheme is wound up. This is why Sinn Féin also introduced legislation in the area only last week in relation to these pension schemes.

“Many tens of thousands of workers are affected by defined benefit schemes. The current situation, where profitable companies, such as in the case of Independent News & Media can walk away from schemes and leaving workers out of pocket cannot continue, and we will support this Bill.

“We need to also look at the pensions system as a whole and we need to address any inequality and unfairness that exists. Sinn Féin put forward a motion only in December to try to address these issues. We attempted to address the pension inequality against women and to reverse changes made by the Labour Party in 2012. We also tried to address reinstating the Transitionary State Pension, giving people the option to retire if they wish at 65 without being forced onto the dole queue. But this was rejected by Fine Gael and Fianna Fáil unfortunately. We will continue to pursue the Government on this and to create a fairer pensions system for all.” 

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