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Pensions and the Brass Neck of Paschal Donohoe

TheField

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Feb 9, 2012
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3,223
Reported yesterday on Budget 2017 approach will 'protect economy' - RTÉ News that

'Speaking on RTÉ's News At One, the minister said he does not accept that there is an unfair gap between private and public pension schemes' and

'that while employers have a significant responsibility to their employees in terms of the maintenance of private pensions in the future, employees also have a responsibility to set aside money, if they can, to fund pension needs in the future.'

Now, I've heard all this before and a number of years ago I took steps as a self employed person to save money into a pension. I earned this money and saved it in an approved pension scheme for our future. When the time comes I will be able to draw down funds from this and pay tax as appropriate on it.

All well and good, except that in the interim, the governments in which Paschal Donohoe has served, have put it's hand into my savings and stolen part of them.

Now he's lecturing us on our savings obligations............

Meanwhile, we hear that retired politicians and government ministers have gold plated pensions that they made little or no contributions towards.

Paschal Donohoe has a Big Brass Neck.
 


hammer

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The pension time bomb needs to be addressed.

Interesting to see how it eventually be tackled.

HBAP has his hands full.
 

Norman Bates

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norman60bates
Reported yesterday on Budget 2017 approach will 'protect economy' - RTÉ News that

'Speaking on RTÉ's News At One, the minister said he does not accept that there is an unfair gap between private and public pension schemes' and

'that while employers have a significant responsibility to their employees in terms of the maintenance of private pensions in the future, employees also have a responsibility to set aside money, if they can, to fund pension needs in the future.'

Now, I've heard all this before and a number of years ago I took steps as a self employed person to save money into a pension. I earned this money and saved it in an approved pension scheme for our future. When the time comes I will be able to draw down funds from this and pay tax as appropriate on it.

All well and good, except that in the interim, the governments in which Paschal Donohoe has served, have put it's hand into my savings and stolen part of them.

Now he's lecturing us on our savings obligations............

Meanwhile, we hear that retired politicians and government ministers have gold plated pensions that they made little or no contributions towards.

Paschal Donohoe has a Big Brass Neck.
Jockey's bollix. :shock:
 

TheField

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It does indeed need to be addressed and the way forward is to make it attractive for people to think of savings. Sending mixed messages is disastrous in a policy area like this. Pension savings are long term considerations - how can any citizen trust a government that is willing to change the goal posts in the medium term? How?
 

hammer

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They need to encourage people starting off their works careers now.

Unfortunately a lot of those in their mid 30s/40s have large legacy debt to service accumulated during the DELUDED years and also maybe on reduced wages and maybe even down to one salary.
 

sadmal

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May 2, 2007
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Reported yesterday on Budget 2017 approach will 'protect economy' - RTÉ News that

'Speaking on RTÉ's News At One, the minister said he does not accept that there is an unfair gap between private and public pension schemes' and

'that while employers have a significant responsibility to their employees in terms of the maintenance of private pensions in the future, employees also have a responsibility to set aside money, if they can, to fund pension needs in the future.'

Now, I've heard all this before and a number of years ago I took steps as a self employed person to save money into a pension. I earned this money and saved it in an approved pension scheme for our future. When the time comes I will be able to draw down funds from this and pay tax as appropriate on it.

All well and good, except that in the interim, the governments in which Paschal Donohoe has served, have put it's hand into my savings and stolen part of them.

Now he's lecturing us on our savings obligations............

Meanwhile, we hear that retired politicians and government ministers have gold plated pensions that they made little or no contributions towards.

Paschal Donohoe has a Big Brass Neck.
Let him start by bringing in a Bill that politicians will have to contribute to a pension fund and it will only be payable when they reach 65. Also that they will only be allowed receive one state pension regardless of whether they were ministers or TD's.
 

Norman Bates

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Let him start by bringing in a Bill that politicians will have to contribute to a pension fund and it will only be payable when they reach 65. Also that they will only be allowed receive one state pension regardless of whether they were ministers or TD's.
Why 65 ... when everyone else has to wait until 66 now. Don't see ehy it's not the same as other state pension payments.
 

sadmal

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Why 65 ... when everyone else has to wait until 66 now. Don't see ehy it's not the same as other state pension payments.
A year on job seekers as other people of 65 have to do will do wonder for them and why deprive them of this life experience?
 

Emily Davison

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A year on job seekers as other people of 65 have to do will do wonder for them and why deprive them of this life experience?
I believe it's non means tested for nine months so that's ok, but after that it's not ok. But worse is coming down the tracks as the state pension age is rising. So people who save hard, like Pascal is suggesting, well they will have to use up their savings as they will have no income, whereas those that saved nothing will get a job seekers allowance.

Anyway as regards pensions, why would anyone save into one knowing that after you've done so for 20 or 30 years the government can, and did, make a grab on them.
 

Analyzer

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POD caught telling porky pies. Hardly news anymore.
 

Mister men

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Why would anyone save for a pension when crooks like FG and FF put their hands in our pockets and rob it whenever it suits them to pay their own massive PS pensions and keep life long scroungers on the dole?

I've my savings in gold and other sure thing investments no way are they taking me for a ride.
 

Nipper

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Why would anyone save for a pension when crooks like FG and FF put their hands in our pockets and rob it whenever it suits them to pay their own massive PS pensions and keep life long scroungers on the dole? I've my savings in gold and other sure thing investments no way are they taking me for a ride.
Until they introduce the gold tax, with ten years in the joy for unlicensed trading

Don't worry Digigold will handle all your transactions for you for a small fee
 

Lúidín

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They need to encourage people starting off their works careers now.
Surely that is up to the governments in the countries they have been forced to emigrate to.
 

Harmonica

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Jul 2, 2009
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The tax saving still makes pensions worthwhile. If there was no tax saving & my employer did not contribute i'd be surprised if my pension has increased at all.

Anyone who thinks the public pension is sufficient is going to get a big surprise with the reduction in their living standards.
 

Florence

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Let him start by bringing in a Bill that politicians will have to contribute to a pension fund and it will only be payable when they reach 65. Also that they will only be allowed receive one state pension regardless of whether they were ministers or TD's.
I believe they do pay 6% for pension but that gets them a much much bigger pension than all other public servants. Teachers, nurses, gardai etc pay 6.5% for their pension. The TDs /senators contribution should increase to 6.5% and their pensions would be based on actual service and under the same rules as other public servants. Thus their pensions would not give the rest of us high blood pressure. remember politicians would also normally be entitled to pensions from what they did pre politics.

I agree make their pension payable at 66 so they have to go through the 1 year gap as other workers are having to do.
 

Denislaw

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Why do the rest of us have to retire at 65 but a politician can go when he/she likes?
 

daveL

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how about legislation to cap pension fund 'management' fees
 
T

Toowoomba

Why would anyone save for a pension when crooks like FG and FF put their hands in our pockets and rob it whenever it suits them to pay their own massive PS pensions and keep life long scroungers on the dole?

I've my savings in gold and other sure thing investments no way are they taking me for a ride.

Fool's gold? :D


2011 $1,895.00

11/8/16 $1,346.40
 

Gaston

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Fool's gold? :D

2011 $1,895.00

11/8/16 $1,346.40
July 2001 - 357.47
July 2002 - 412.60
July 2003 - 452.43
July 2004 - 498.44
July 2005 - 514.89
July 2006 - 738.27
July 2007 - 757.11
July 2008 - 991.76
July 2009 - 1033.84

You get the idea as a little perspective is lacking in your very short term view of gold prices. Those who were buying in the noughties are still well up. ;)
 


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