Deering is Critical of Golden Handshakes and Massive Pensions

12th September, 2011



Carlow Fine Gael TD Pat Deering this week lashed out at the ‘scandal’ of the culture of Golden Handshakes and Massive Pensions. When asked about the severance payment and pension entitlements of recently retired Government General Secretary Dermot McCarthy Mr. Deering said “this is an outrage, these payments are unjustified in the times we live in today. When asked what should the Government do to stop such settlements Deering said “if the present Government inherited these contracts, which in my opinion are way out of line and are a further sign of how badly the previous Government managed the nations affairs where there was no control on this type of expenditure, if this is the case let us change our taxation laws to get most of these ridiculous amounts back in to the public purse”. Mr Deering went on to say “in a time when we are looking at cutting all expenditure, and indeed in a time when a lot of people are feeling the strain of the recession this is not right, it’s not right and it doesn’t look right”.


“The Government is committed to ending the exceptionally generous pension regime for those at the top of the public and private sectors.  While it is not possible to change existing arrangements, the Programme for Government commits to capping taxpayer subsidies for all future pension schemes at €60,000 per annum.  These reforms are complex but are being advanced and will be ready by the Budget”.


In conclusion Mr. Deering urged the Government “to put a stop to this type of madness in the interest of fairness”