Monthly Archives: June 2012

Deepening pension crisis highlights flawed raid on retirement funds – Daly

The ever deepening crisis in the funding of pension schemes highlights the complete folly of the government’s €2 billion raid on private pension schemes, according to Kerry South Fianna Fáil Senator Mark Daly.

Senator Daly said: “The Pensions Board has confirmed that 80% of defined benefit pension schemes are in deficit.  In other words, they haven’t enough money to pay out the pensions that were promised to the members of the scheme, effecting people across Kerry and around the country.

“The Chief Executive of the Pensions Board has said more schemes face the prospect of being wound up and in other cases members will get reduced benefits.  Incredibly the Government’s response to the funding crisis has been to impose a 2.4% levy over a period of four years, taking up to €2 billion out of schemes already under the water. This is making the situation much worse.

“The Government pressed ahead with the €2 billion pension levy last summer despite warnings from the Pensions Board, senior civil servants, the Troika and Minister Joan Burton, about its implications.  I pointed out the dangers involved in this move myself but the Government ignored everyone.

“The Government collected over €460 million from the levy last year, and a similar amount will be collected this coming September and again in 2013 and 2014. I think it’s important to point out that the pension levy was one thing that was not promised by Fine Gael and Labour in the election but it was among the first things introduced when they came to power.

“Fine Gael and Labour seem totally oblivious to the damage the levy is doing to the confidence of ordinary people in Kerry in their efforts to save for the future through a pension scheme. The pension levy raid was, in effect, the Government taking some of the private savings of citizens.

“The government has promised that this levy will finish in 2014, but I know there are many people in Kerry who are very sceptical about this.  The pension levy is an example of this government making decisions which buys them time in the short term, but which will actually have a very damaging impact on the economy over the longer-term.”

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Kerry parents finally to be informed about Back-to-School payments – Daly

Parents in Kerry will finally be told if they’re eligible for the Back to School Clothing & Footwear Allowance for the new school year.

Kerry South Fianna Fáil Senator Mark Daly has welcomed confirmation from Social Protection Minister Joan Burton that letters are due to parents informing them if they’re entitled to the Back to School allowance.  Over 110,000 payments are due to be made around the country.

Senator Daly said: “The rates of payment for children under the Back-to-School allowance are €150 for children aged between 4 and 11 and €250 from ages 12 to 22.  This payment is extremely important for families across the country.  The costs associated with the start of the school year put a huge strain on family budgets and I welcome the fact that the process has begun at this stage.

“There were significant problems with the Back-to-School payment last year.  I know from my own constituency that parents were left waiting a very long time and had difficulty even contacting the Department of Social Protection about their payment.

“All families in Kerry who do not receive a letter about automatic payment of the Back-to-School allowance by June 20th can apply to the Department.  I hope the problems that were experienced with the new automated system last year have been ironed out and the concern that families have about meeting costs are not added to.

“Anyone in Kerry who is unsure of their entitlement or has difficulty with the Department of Social Protection or their application can contact my office on 01-6183830,” said Senator Daly.

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At Georgia Tech discussing the links between the Georgia Institute for Technology and University of Limerick, Athlone IT and UCD. The commercialisation of the research outcome was part of the discussion between the Committee and the people at Georgia Tech.

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At Georgia Tech discussing the links between the Georgia Institute for Technology and University of Limerick, Athlone IT and UCD. The commercialisation of the research outcome was part of the discussion between the Committee and the people at Georgia Tech.

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Fionnuala Sweeney of CNN and formerly of RTE met with myself and other members of the Joint Committee of Foreign Affairs and Trade in Atlanta

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