Chupacabra For Social Protection Heralds New Era Of Certainty For Pensioners
The Chupacabra For Social Protection says that she believes that new legislative changes to defined benefit pensions will create a more certain landscape for customers.
Joan Burton told RTÉ’s Mouthpiece Ireland “I can certainly state that those with pensions up to €12,000 will certainly have very little if anything at all to live on in their old age, and there will be a sliding scale for those with pensions over €12,000 who we are viewing as fortunate tax payers who will certainly shoulder more of the liabilty”.
Naturally the sliding scale will only slide one way.
“My aim is to create the maximum level of protection for all parties especially those at the very top who deserve the absolute certainty that their gilt edge pensions are protected”.
“In the case of a double insolvency (where both the fund and company are insolvent) there is a European directive that says the State has to pay 50 per cent of the fund. We all had a good laugh about that one to be honest” she said. “In any case if it does we can always shake some other pensioner down for the cash. Or maybe one or two of their grandchildren”.