Ministerial and private pensions gap revealed

neutral_lurker

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OK are these going to be touched in the Budget?
THE ENORMOUS gap between ministerial pensions and private pensions has been dramatically outlined in research which shows a self-employed person would have to pay €20,000 each month into their pension fund to achieve a pension equal to that of a minister

http://www.examiner.ie/ireland/ministerial-and-private-pensions-gap-revealed-135532.html

A TD only has to serve as a minister for 10 years before he is entitled to his full €114,600 annual, index-linked pension upon retirement. Ministers are also fully entitled to retire aged 50 and are not obliged to wait until 65


The Independent Trustee Company (ITC), who completed the research, stated that one minister’s pension entitlements would cost the taxpayer up to €6.9m, if the minister was to retire at 50. If the minister was to retire at 65, as is more normal, the taxpayer would still have to provide €3.9m over the course of his retirement
 


jmcc

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Why not have pension capped for politicians at 50,000euros?
F*ck that. Why not cap the politicians and take their pensions as a donation to bailing Ireland out of the mess they created? :)

Regards...jmcc
 

neutral_lurker

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I do agree with the higher tax relief being reduced for private pensions. however we need to start a lobby for TD's to get these mad benefits they have reducedinto order if we really are on the verge of bankruptcy.

Who could I write to in Europe to ask what they think I'd be interested in whoever is going to bail us out opinion on this is cos these figures are mad for a small country with the biggest deficit in Europe.

Also look at this Gem from a True Patriot

Taoiseach defends cost of ‘Ministerial Mercs’



TAOISEACH Brian Cowen has insisted the cost of the "Ministerial Mercs" is a minor issue in comparison with the budgetary crisis

Read more: Taoiseach defends cost of


Pushed on the issue by presenter Mary Wilson, Mr Cowen responded: "Sorry, sorry, in relation to this matter – if you want to get rid of every Mercedes and Audi or whatever you want to talk about, it doesn’t compare anything to the scale of the problem we have."


He said of the Mercs: "Let’s not have a serious conversation about the difficulties this country is facing by reducing it to that issue
i.e. but out and pay your tax increases
 

Warren Poynt

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And it ordinary people like us who are struggling week in week out to find the money to pay these blood-suckers their gold plated salaries and pensions !

One solution:

Abolish the Senate - it is only a rest home has-beens and an incubator for wannabees.

Reduce Dail to 100 or 120-seat assembly.

Cap all TDs salaries at 80,000 and Ministers at 125,000 with Taoiseach on 150,000.

Attendance allowances scrapped and all expenses vouched.

Pool cars for President and everyone else.

Sell Govt jet, the optics are more important than perceived prestige.

Like 'TaxHavenSite' says; cap all Oireachtas pensions at 50,000.

Etc, etc, etc.......
 

neutral_lurker

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How can we let a Budget happen when none of these will be addressed(except car pooling perhaps due to the farmleigh debacle) - we are allowing a two tier system to fester.

Seriously is there any group that could make this a high profile campaign- we need a tax payers alliance like the uk- I mean they cut disabled services and don't go near this stuff despite the huge costs.
 

Feelinglost

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Who could I write to in Europe to ask what they think I'd be interested in whoever is going to bail us out opinion on this is cos these figures are mad for a small country with the biggest deficit in Europe.
You can write to every man woman and child in Europe, and it won't make the slightest difference. This whole charade is about the preservation of the state, nothing more nothing less. You need to come to terms with this, and you need to understand that you do not need to look outside of yourself for leadership.
 

PeterBangsVej

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Its an absolute joke. If they wanted to save even a shred of their credibility and show the people they meant business the first thing they would have done was cut their own wages, pensions and ministerial cars.

A captain should go down with his ship but in this case our captains are taking the lifeboat and leaving us on the ship.
 

jams odonnell

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Let's not lose perspective here:

The vast majority of PAYE workers are being royally ripped off by these elites,

people on ministerial pensions

AND

well paid people in the private sector with gold-plated pension tax breaks funded by the low paid

All of this needs to change:

1. Cap ministerial pensions above 50k

2. Tax relief for private pensions at the standard rate only, and 100% tax above 50k!
 
Last edited:

paddywhack

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Sep 22, 2009
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OK are these going to be touched in the Budget?
A TD only has to serve as a minister for 10 years before he is entitled to his full €114,600 annual, index-linked pension upon retirement. Ministers are also fully entitled to retire aged 50 and are not obliged to wait until 65


The Independent Trustee Company (ITC), who completed the research, stated that one minister’s pension entitlements would cost the taxpayer up to €6.9m, if the minister was to retire at 50. If the minister was to retire at 65, as is more normal, the taxpayer would still have to provide €3.9m over the course of his retirement

€114,600 is the equivalent to dole payment for 11 people on unemployment benefit. These greedy bas**rds are quite willing to cut welfare benefits to the most needy, so we should expect a substantial reduction in their own pensions and salaries.
 

jams odonnell

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Why not have pension capped for politicians at 50,000euros?
No one in this country needs a pension > 50,000 per year

And anyone who has/will have a pension more valuable than that has enriched themselves at the expense of the taxpayer

What is interesting about this debate is that everyone seems to make the link with politicians pensions,

but seem to ignore the fact that a 25% tax-free lump sum of a private pension is paid for by other tax payers
 

FreshStart

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€114,600 is the equivalent to dole payment for 11 people on unemployment benefit. These greedy bas**rds are quite willing to cut welfare benefits to the most needy, so we should expect a substantial reduction in their own pensions and salaries.
And after the budget that will probably be 15 people on UB.:(
 

Thac0man

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Why not have pension capped for politicians at 50,000euros?
Because to do that legislation would have to be changed and that would open pandoras box. The like of SIPTU won't go near the issue for fear of rocking the boat. One hand will keep washing the other.
 

neutral_lurker

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Thac what legislation is this?

So Siptu are marching against the Govt in the next few weeks but are unwilling to address humungous pensions for fear of rocking the boat- doesn't make sense

We really need to get this to the forefront if they are going to cut the measly 200 euros of the state pension yet keep 114,000 euros for themselves.

We mustn't be bankrupt after all.
 

Gryire

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Feb 5, 2009
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Let's not lose perspective here:

The vast majority of PAYE workers are being royally ripped off by these elites,

people on ministerial pensions

AND

well paid people in the private sector with gold-plated pension tax breaks funded by the low paid

All of this needs to change:

1. Cap ministerial pensions above 50k

2. Tax relief for private pensions at the standard rate only, and 100% tax above 50k!
I also think all pensions should be contributary nad get us away from the Mcreevy types with 3 different pensions. If he wants 3 pensions then make the necessary contributions.
 

jams odonnell

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In the recent CAAG report it showed that Ministers/Judges etc... contributed something like 5% to their pensions when the gross annual cost was 70%. this is bordering on fraud & needs to be slashed.
I think that judge lark must be a really cushy number, where do I sign up for the Fás course?

I'm sure that really good lawyers give up up highly lucrative jobs in the private sector (making 10k a day at tribunal for example), just to become a judge for the pay and the pension.

And chickens have lips.....
 

neutral_lurker

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In the recent CAAG report it showed that Ministers/Judges etc... contributed something like 5% to their pensions when the gross annual cost was 70%. this is bordering on fraud & needs to be slashed.

What? So we contribute 95%?

Nah I'm not willing to let this be swept under the table if they cut OAP - not that I'm against cutting OAP but only as a very last measure when everything else has been cut first.

What about the bondholders won't they care that all these things have to be paid cos of our legislation - making it easier for us to default?
 


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