Sir, – Reading of the restoration of pension payments to 4,000 of the highest-paid public office-holders and pay increases for judges under the public pay agreement is infuriating.
One wonders why these are being restored at all during a crisis, with unprecedented public spending commitments to compensate thousands who have lost their jobs and livelihoods during the pandemic.
We are also informed that a number of senior HSE executives will receive lump-sum payments of €300,000 upon retirement and annual pensions of up to €100,000.
Based on standard pension industry calculations, to earn an annual pension of €100,000, one would need to save upwards of €2 million.
Even relatively well-paid private sector workers, saving for decades at maximum allowable levels, could only dream of saving a pension fund of this size, given the vagaries of the stock markets.
One of the greatest disparities in Ireland now is how we are treating citizens differently in retirement. Many of our private sector workers in offices, factories or farms have no pension savings at all, while many lower-paid public sector workers have but a modest pension to look forward to.
All citizens should receive a “living pension” upon retirement, index-linked to the average industrial wage. If individuals want additional gilding of their pensions, then let them save for it, no matter where they work.
As we move into the second century of independence, we should strive to create a more equal Ireland, where all people will feel fairly treated and recognised for the dignity of their life’s work in the autumn of their years. – Yours, etc,
DEIRDRE LEWIS,
Kilmainham, Dublin 8.