Half of all TD's are millionaires

Franz Von Peppercorn

It’s interesting that Ireland’s right wing are now defending high pensions for politicians and their ability to amass property (fairly easy for people with a guaranteed state income).

The independent probably made a mistake in its headline. It’s making many of the politicians to be millionaires based on their pension (ie the equivalent capital needed to guarantee the annuity equal to a politician’s pension).

Because right wingers hear millionaire and think “entrepreneur” they are defending high state pensions, which apply not just to politicians but Ireland’s public service in general.

So it’s now left wing to criticise that.

feargale

eeguy wrote: »

Having assets worth millions doesn't really make you a millionaire.

The study doesn't factor in mortgages and debts.

Indeed. That would be most revealing. The state owns 71% of AIB, yet that bank and others are allowed to behave as they please. How many T.Ds (as well as high ranking members of the Garda Siochána and prominent journalists) have special terms from financial institutions and feel inhibited about outing those institutions, either through fear of being outed themselves in respect of their priveleged treatment or of having their loans called in?

noodler

Deise Vu wrote: »

So using the figures quoted and leaving inflation out of it. Enda paid 3 % of €60K (€1,800) per annum for 35 years (€63K) and this 'entitled' him to a lump sum of €100K and an annual income of €30K per annum for the rest of his life from age 60 (if he had retired from politics). A tidy pension for a job he did for 4 years.

Un****ingbelieveable.

Not to mention how this is more than a tad of a conflict of interest. How many of these teacher TDs have been Minister of Education or Minister for Finance? Benchmarking? Sure what'd be the harm.....

Its more than 3%, there is a contribution specifically for the lump sum and there is a PRD.

Also, take the state pension out of that because they don't get it on top of their pension despite paying alot of PRSI.

Most public sector worker has four deductions really:

1) the contribution
2) the PRD
3) the lump sum
4) PRSI

Deise Vu

noodler wrote: »

Its more than 3%, there is a contribution specifically for the lump sum and there is a PRD.

Also, take the state pension out of that because they don't get it on top of their pension despite paying alot of PRSI.

Most public sector worker has four deductions really:

1) the contribution
2) the PRD
3) the lump sum
4) PRSI

Are you seriously defending Enda getting a full pension for a job he did for 4 years when he is getting a TD's, Minister's and Taoiseach's pension? If you are you need to remove the PRSI element as public servants hired before April 1995 don't pay any and the state pension has nothing to do with their 'entitlement's. With or without PRSI this is borderline theft. In fact I would remove the word borderline.

It is also anti-democratic in that it is a further encouragement to enter politics to one cohort of the population over the rest of us eejits. It certainly explains why we have an incredible number of 'teachers' representing us.

Franz Von Peppercorn

Deise Vu wrote: »

Are you seriously defending Enda getting a full pension for a job he did for 4 years when he is getting a TD's, Minister's and Taoiseach's pension? If you are you need to remove the PRSI element as public servants hired before April 1995 don't pay any and the state pension has nothing to do with their 'entitlement's. With or without PRSI this is borderline theft. In fact I would remove the word borderline.

It is also anti-democratic in that it is a further encouragement to enter politics to one cohort of the population over the rest of us eejits. It certainly explains why we have an incredible number of 'teachers' representing us.

somebody said earlier if you don’t like it there’s North Korea.