Politicians’ pay - Public needs same pension package

SHOULD Taoiseach Bertie Ahern and his cohort of ministers not be returned to government at the next election, they will collectively have the comfort of €20 million to cushion their disappointment.

That sum is what is available to them by way of pensions for life, apart from a generous severance of 75% of their ministerial salaries from day one of being ousted.

They will not have to take Finance Minister Brian Cowen’s advice about incentives available for holders of SSIAs to invest in pensions.

It is also separate to their salaries and pensions as deputies, should they be re-elected to the Dáil.

In the case of plain Mr Bertie Ahern — should it happen — he will have at least a pension of €100,000 a year, having served by then for 10 years.

Some of his Cabinet will also have a similar period of service, along with the gratitude of a very generous public.

Unfortunately, quite a few of that public will not have such a generous pension to look forward to. In fact, many of them will have no financial security to comfort their old age.

The Pensions Board in recent research showed that only 56.3% of men and 46.8% of women have pensions.