Kevin Humphreys (Labour) | Oireachtas source

I do not intend to go over all the points made by Senator Higgins but I will reiterate one comment made by her with regard to fairness. We have a real significant problem with fairness in pensions. Senator Higgins said that pensions should not be a crisis but the fact is that pensions are quickly becoming a crisis. This is not just for defined benefit schemes, it also relates to how the State is going to find future pension liabilities. As we are coming out of the financial crisis, for the last five years survival was the important element. Now we must start planning for the next five, ten and 15 years. The Joint Committee on Social Protection is already starting to look at the challenges posed for the State by pensions. I ask the Minister to reflect on defined benefit schemes. It will not just affect the Independent News and Media fund. We will have another crisis and then another so we may as well face up to it and deal with it now in respect of the Independent News and Media pensioners to make sure they get some fairness.