Pension top-up a moral matter
THE response of the Taoiseach to the top-up pension arrangement between the Bank of Ireland and its chief executive has been as taciturn as might be anticipated had an elderly, blind poodle piddled beside him on the floor of a convent parlour.
Contract, or no contract, this is a matter of fundamental public interest, morality and moral authority -- the Taoiseach's moral authority.
The value of the Bank of Ireland staff pension funds are reporting a deficit of over €1.6bn, a deficit that has increased by over 200pc since 2008. The funds' assets are now less than 70pc of the present value of future obligations.