Congress Backs Mandatory Pensions and tells Finance Officials to 'Back Off'
9 Aug 2006
The Irish Congress of Trade Unions today backed mandatory pensions and accused Department of Finance officials of forming a 'pincer movement' with employers' body IBEC to scupper proposals put forward by Minister Séamus Brennan and the Pensions' Board yesterday (Tuesday).
Congress President Peter McLoone said the proposals for compulsory pension savings could save tens of thousands of low paid and women workers from poverty in retirement. "Department of finance officials have no business lining up with employers to throw cold water on these proposals, which aim to provide a happy and secure retirement for tens of thousands of women and low paid workers. Congress welcomes this initiative and urges Government to give it fair and reasonable consideration," he said.
Mr McLoone said the pensions question was complex and costly. "It's naive to think that solving the potential pensions crisis will be cost free. This is an attempt by Finance to stifle the debate before people have a chance to understand the cost and benefits of what is being proposed. They should back off and allow this matter of serious public interest to be considered without spin and propaganda," said Mr McLoone.
Mr McLoone added that the proposed national agreement, Towards 2016, provides for a Green Paper on pension policy, which will take account of the views of the social partners and allow for consultation. "These proposals must be taken seriously as part of that exercise, which should not be ruling anything out at this stage," he said.
ENDS