The Taoiseach will recall from his time as Minister for Social Protection that there is a serious need for protection for people in defined benefit pension schemes to prevent their employers winding up the schemes and walking away. This kind of practice is not allowed elsewhere and should not be allowed here either. At the time, the Taoiseach did not avail of the opportunity to introduce that legislation, but he said that it would be coming. Last summer the current Minister promised legislation to close the loophole, but it has not materialised. Where is that proposal and when will we see the legislation?

There are some difficulties with that legislation and I am sure the Minister for Employment Affairs and Social Protection will be happy to explain them to the Deputy. As is so often the case with legislation in this House, they relate to potential unintended consequences that could seriously impact on people's pensions and their jobs. The Minister will be able to speak directly to the Deputy about that.