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Thread: FF to publish legislation to reduce bankers' pensions

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    Politics.ie Member Howya's Avatar
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    Default FF to publish legislation to reduce bankers' pensions

    Fianna Fáil to publish legislation to reduce bankers’ pensions

    FIANNA FÁIL IS to publish special legislation tomorrow to reduce the pensions paid to senior executives in Irish banks.

    Fianna Fáil spokesperson on Finance, Michael McGrath, will give the full details on the provisions of the legislation tomorrow, but it is believed it will cover both the pensions of current senior executives and former senior banking executives.
    What will the FG/Lab reaction be? Welcome it with open arms or bin it?

    And interestingly, FF are not proposing to include senior civil servants and politicians - I wonder why?
    “Still paying, still to owe. Eternal woe! ” ― Paradise Lost, John Milton

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    Quote Originally Posted by Howya View Post
    Fianna Fáil to publish legislation to reduce bankers’ pensions



    What will the FG/Lab reaction be? Welcome it with open arms or bin it?

    And interestingly, FF are not proposing to include senior civil servants and politicians - I wonder why?
    Unless they include civil servants and politicians, it's just more hypocrisy.

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    These lads deserve a chance in government!!

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    Politics.ie Member Sync's Avatar
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    Akin to Jeffrey Daumer offering sentencing suggestions for female serial killers.

    1. If FF (or anyone else) wants to draft legislation making it ok for the govt of the day to decide who should and shouldn't get to keep the pension they've legally earned, then fine. That's one way to go. It's a crazy way to go but fine.

    I don't understand from a fairness perspective why it's reasonable to garnish the pension of say a 70 year old baking HR director who did a great job during her tenure and leave the pension of a 70 year old voted out politician's pension intact, or leave the pension of a post office manager whose performance reports indicate underperformed all their career.

    If we want to retrospectively do that for bankers/teachers/nurses etc etc then great. I'll vote against anyone who wants to do it but fine.

    But this idea of selecting people based on their profession should make people uneasy. The second something like this is allowed to stand in court then there's nothing to stop the next govt doing it for a profession you DO happen to like.

    2. It won't matter because the legislation suggested by FF will be poorly worded muck which won't have been subject to legal review because they won't have bothered because this is a stunt.
    I'm living in America, and in America, you're on your own. America's not a country. It's just a business. Now f***ing pay me.

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    Politics.ie Member sic transit's Avatar
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    Fairly populist and unless there is some way to prevent the inevitable lawsuits unlikely to go anywhere. The cynic in me would wonder whether they know this anyway and are trying to give the impression that they are trying to do something and that they are rehabilitating themselves.
    "There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self." Ernest Hemingway

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    Quote Originally Posted by sic transit View Post
    Fairly populist and unless there is some way to prevent the inevitable lawsuits unlikely to go anywhere. The cynic in me would wonder whether they know this anyway and are trying to give the impression that they are trying to do something and that they are rehabilitating themselves.
    There is probably nothing preventing an increased tax on these pensions.

    This should, however, be a reminder to ps employees that, when it becomes politically convenient, their pensions may be at risk too. Better off keeping your money and sorting out your own pension rather than trusting the state with it, particularly if the ps workforce decreases.

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    Johnny Boy
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    Quote Originally Posted by Sync View Post
    But this idea of selecting people based on their profession should make people uneasy. The second something like this is allowed to stand in court then there's nothing to stop the next govt doing it for a profession you DO happen to like.
    It wouldn't last five minutes in front of European judges. You cannot legislate for selective discrimination like that on the basis of someone's whim. It is a populist stunt, and not even a clever one. It is no coincidence that these dunces brought Ireland to the brink of ruin.

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    Wouldn't it have been better to do all of this when they were in power at sometime over the last 25 years?
    I may be in the minority, but that doesn't mean I'm wrong.

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    Quote Originally Posted by Johnny Boy View Post
    It wouldn't last five minutes in front of European judges. You cannot legislate for selective discrimination like that on the basis of someone's whim. It is a populist stunt, and not even a clever one. It is no coincidence that these dunces brought Ireland to the brink of ruin.
    Non discrinatory legislation against all taxpayer funded pensions over €100,000 being taxed at 90% would stand up in court but would obviously include politicians and civil servants so .....
    I may be in the minority, but that doesn't mean I'm wrong.

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    Politics.ie Member Analyzer's Avatar
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    You have to hand it to FF.

    FF in opposition are sounding more like FG were like in opposition with every passing day.

    How come they all only get serious about running the country properly when they are in opposition ?
    Coveney's ambition is the be Ireland's next EU Commissar and Ireland will pay a price as he builds his CV to position himself sufficiently loyal to the nEU empire.

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