Number 5 of 2009

AN ACT, IN THE PUBLIC INTEREST, TO PROVIDE FOR THE PAYMENT OF A CONTRIBUTION BY CERTAIN PERSONS IN THE PUBLIC SERVICE (INCLUDING MEMBERS OF THE HOUSES OF THE OIREACHTAS AND CERTAIN OFFICE HOLDERS) WHO ARE MEMBERS OF AN OCCUPATIONAL PENSION SCHEME OR PENSION ARRANGEMENT (BY WHATEVER NAME CALLED) WHICH IS PROVIDED FOR UNDER THE SUPERANNUATION ACTS 1834 TO 1963 OR ANY OTHER ENACTMENT OR ADMINISTRATIVE MEASURE TO LIKE EFFECT OR IS REQUIRED TO BE MADE, APPROVED OF OR CONSENTED TO (HOWEVER EXPRESSED) BY ONE OR MORE THAN ONE MINISTER OF THE GOVERNMENT, TO PROVIDE FOR THE REDUCTION OF THE AMOUNT PAYABLE, OR RATE OF PAYMENT, OUT OF MONEY PROVIDED BY THE OIREACHTAS OR THE CENTRAL FUND OR THE GROWING PRODUCE OF THAT FUND TO CERTAIN PERSONS FOR CERTAIN SERVICES TO OR ON BEHALF OF THE STATE, TO PROVIDE FOR THE AMENDMENT OF SECTION 4 OF THE LOCAL GOVERNMENT ACT 1998, THE INCOME TAX ACTS AND Part 4A OF THE SOCIAL WELFARE CONSOLIDATION ACT 2005, TO PROVIDE FOR THE DEFERRAL OF LIABILITIES, ACCRUALS OR PAYMENTS DUE UNDER A SCHEME KNOWN AS THE FARM WASTE MANAGEMENT SCHEME AND TO PROVIDE FOR RELATED MATTERS.

[27th February, 2009]

WHEREAS a serious disturbance in the economy and a decline in the economic circumstances of the State have occurred, which threaten the well-being of the community;

AND WHEREAS as a consequence a serious deterioration in the revenues of the State has occurred and there are significant and increasing Exchequer commitments in respect of public service pensions;

AND WHEREAS it is necessary to cut current Exchequer spending substantially to demonstrate to the international financial markets that public expenditure is being significantly controlled so as to ensure continued access to international funding, and to protect the State's credit rating and reverse the erosion of the State's international competitiveness;