Staggering act of betrayal on pensions

THE plan to pass over the remaining National Pension Reserve Fund of approximately €20bn to our failed banks is so staggering an act of betrayal that its magnitude is beyond the comprehension of ordinary, decent people.

Astonishingly, the Government, having managed to get clean away with presiding over the most damaging bank collapse in Europe, now proposes we use our vital pension reserve fund money to solve the short-term problem of the banks at the long-term expense of future generations.

Then, to add insult to injury, Taoiseach Brian Cowen introduced his new strategy as a means of paying now to protect our children and grandchildren through a compulsory pension plan.