Dáil Éireann Debate, Tuesday - 14 May 2013
178. Deputy Helen McEntee asked the Minister for Finance in view of the publication of the Mercer report and his recommendations to the covered institutions that they reduce their cost base by between 6% and 10%, if his attention has been drawn to fact that a covered institution (details supplied) will ask for a significant contribution from its pension schemes; and if he will make a statement on the matter. [22238/13]
View answer187. Deputy Michael McGrath asked the Minister for Finance if he has received formal replies to the Mercer report from each of the State supported banks; the actions that are now planned to implement the report; and if he will make a statement on the matter. [22361/13]
View answer211. Deputy Tom Hayes asked the Minister for Finance if he will confirm that pension entitlements for former employees of Permanent TSB will not be affected as part of the cost cutting measures aimed at reducing the costs by 10% at the bank; and if he will make a statement on the matter. [22745/13]
View answerI propose to take Questions Nos. 178, 187 and 211 together.
I can confirm that the three covered institutions responded with their individual strategies by the due date of 30 April as requested by the Government. All three institutions have put forward pension changes to varying degrees as part of their respective overall responses.
I am constrained as to what I can say at present due to commercial sensitivities and perhaps, more critical at this stage, industrial relations concerns as the normal protocols continue and need to be respected and observed by all parties.
I would encourage all sides to engage in these discussions proactively through the appropriate forums in view of the serious and critical consequences for all concerned.
