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Pensions and Retirement Lump Sums: Motion (Resumed) [Private Members]

Vote from 07/11/2012

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The following motion was moved by Deputy Mattie McGrath on Tuesday, 6 November 2012:
That Dáil Éireann in view of the Government’s:

— exhortations to Irish citizens to embrace austerity;

— decision to raid ordinary citizens’ pension funds;

yes
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absent
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Background information

The following motion was moved by Deputy Mattie McGrath on Tuesday, 6 November 2012:
That Dáil Éireann in view of the Government’s:

— exhortations to Irish citizens to embrace austerity;

— decision to raid ordinary citizens’ pension funds;

— threat to end tax relief on ordinary citizens’ pension contributions in the forthcoming budget; and

— recent changes to the qualifying conditions for the contributory state pension;

calls on the Government to end the current system of paying grossly over generous pensions and massive lump sums on retirement to office holders such as Cabinet Ministers, Taoisigh, TDs, Senators, senior public servants, State regulators including the Financial Regulator, members of the Judiciary and the CEOs of semi-State bodies and State-funded banks.

Debate resumed on amendment No. 1:

To delete all words after “Dáil Éireann” and substitute the following:

“takes note of the Government’s leadership and strong policy of remuneration restraint and sustainable pension reforms since taking office in March 2011, and in particular:

— acknowledges that all members of the Government accepted reductions in their pay on their first day in office;

— notes that this pay reduction will reduce the pensions paid to members of this Government on retirement;

— agrees that the pension levy stamp duty introduced by the Finance (No. 2) Act 2011 is a timely and legitimate source of revenue to the Exchequer;

— notes the significant reduction in public service pensions in payment before end-February this year introduced by the Financial Emergency Measures in the Public Interest Act 2010;

— notes the reduction in public service pensions coming into payment since end-February this year that results from the pay cut introduced by the Financial Emergency Measures in the Public Interest (No. 2) Act 2009;

— welcomes and supports major pension reforms brought forward by the Minister for Public Expenditure and Reform, including:

— legislating for the Single Public Service Pension Scheme;

— widening the application of pension abatement and service caps across the public service; and

— introducing a higher top rate of the public service pension reduction for those in receipt of public service pensions above €100,000;

— recognises that pensions are deferred income and are property rights; and

— acknowledges that the general public policy in the Financial Emergency Measures legislation (including the pension-related deduction, pay cuts and the pension reduction) is to reduce, in a reasonable and proportionate way, public service expenditure and in particular that the pension reduction applies in a tapered and progressive manner to public service pensioners.”

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