Comment: The warped priorities of Irish banks' pension schemes

Comment: The warped priorities of Irish banks' pension schemes

There is a gross injustice over who gets what from banks' defined benefit schemes, writes Michael Murray.

As most of the Irish banking sector is now in state hands, one of the many challenges ahead for the government is to decide how - and to what extent - the enormous deficits in the banks' defined benefit pension schemes can be filled, or shrunk. Taking all the state-supported banks together, these holes are several billion euro deep. At present, the taxpayer is helping to fill them.

Shortfalls in the Irish banks' defined benefit...

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