I have called on all Oireachtas members to support a Bill (Industrial Relations Provisions in Respect of Pension Entitlements of Retired Workers Bill 2021) which came before the Dáil last year.
The Bill had wide support and was deferred for a year to allow for a consultation process to be undertaken. The consultation process is now closed, and we are awaiting the report from Dept of Trade & Employment (DETE)
This Bill is now due to come back before the Dáil by June 30th. I am asking all members of the house to support the Bill to ensure that it will progress through to Committee stage without any further delays.
The Bill if passed into law will give retired workers a voice and right over what happens to their occupational pension schemes after they have left their employment. At present, thousands of workers who have worked for decades in a company or a semi state find that once they have left their job, any changes that impact their pension schemes can happen with little notice or negotiation with them.
Retired workers have had to experience the injustice of not being included at the table when negotiations regarding their income took place. In many instances these negotiations resulted in a loss of income for many retired workers.
“We need to show respect to those workers who are now retired and who gave a life of dedication, loyalty, and service to their employer. They need to have a say in how their pension is managed and as a stakeholder they deserve the right to negotiate if there is and proposed changes to their pensions”.