€17.5 Billion Being Taken From NPRF

Holybejaysus

zig wrote: »

I never in my life thought id say this, but it looks like my vote will be either going to Sinn Fein or the socialist party.

Interesting logic-"Things are really bad. Therefore, I will vote for the craziest lunatics I can find and things will get better."

skydish79

Teclo wrote: »

because they're worth it :rolleyes:

No but the banks are!!

Fentdog84

Am I the only one who is completely enraged by this prospect? And dont even think about giving me this ''ah public service who cares they're getting too much anyway'' nonsense. My dad wotked extremely hard as a teacher all his life and now they are effectively gambling with his retirement money, even if you can call it that more throwing it down a black hole..

zig

Yes, your right, an extremely sneaky clever move by the negotiators. It prevents other parties from being able to do anything. It also makes an earlier default much more difficult.
And as you said, yes, it gambles with our pension fund. We have just been handed our asses on a plate by the EU.

Fentdog84

zig wrote: »

Yes, your right, an extremely sneaky clever move by the negotiators. It prevents other parties from being able to do anything. It also makes an earlier default much more difficult.
And as you said, yes, it gambles with our pension fund. We have just been handed our asses on a plate by the EU.

I was friends with a guy once, he borrowed, he begged, he gambled, he stole, he lied and yet somehow he always made it look as if i was the one with the problem. Thats exactly how I'm feeling about Brian Cowen now. he can do no right and this negotiation is just another cock up again, sacrifice the state pensions to save the corporation tax. This deal is the final nail in this country's coffin.. Cowen & company should just ride of into the sunset now because they can do no more damage..

Idbatterim

the pensions "timebomb" is one I would like to see addressed sooner rather than later anyway. Am I believe that the fund, had it not been used, should have been used for PS pensions, while welfare is cut, social services, middle classes being hammered?! yeah right.

Euro_Kraut

Fentdog84 wrote: »

Am I the only one who is completely enraged by this prospect? And dont even think about giving me this ''ah public service who cares they're getting too much anyway'' nonsense. My dad wotked extremely hard as a teacher all his life and now they are effectively gambling with his retirement money, even if you can call it that more throwing it down a black hole..

Its not just ex-public sector workers pensions. Its the regular State pension that we supposed to come out of this fund.

Personally I agree with it being used now rather than paying 5.8% of a loan. However I would rather is was put into capital expenditure like the Metro North than into banking institutions that we may never see again.

Citizen_Cutback

Idbatterim wrote: »

the pensions "timebomb" is one I would like to see addressed sooner rather than later anyway. Am I believe that the fund, had it not been used, should have been used for PS pensions, while welfare is cut, social services, middle classes being hammered?! yeah right.

Incorrect!

The NPRF investments returns were intended to contribute 1/3rd towards Public Sector Pensions and 2/3rd towards PRSI Pensions from 2024.

Don't let the facts get in the way of your line of thinking.