Dáil Éireann Debate, Tuesday - 1 July 2025
276. Deputy John Lahart asked the Minister for Finance the number of proposals in the Interdepartmental Pensions Reform and Taxation Group report from 2020 that have been implemented; the number not yet been implemented; the expected timeline for those not yet implemented; and if he will make a statement on the matter. [36059/25]
View answerThe Interdepartmental Pensions Reform and Taxation Group (IDPRTG) was established to carry out a number of tasks set out in the Roadmap for Pensions Reform 2018 -2023. The Roadmap set out the need to promote long-term pension saving to address income adequacy in retirement, in particular for low income earners.
The IDPRTG is chaired by the Department of Finance, and includes representatives from the Department of Public Expenditure and Reform; the Department of Social Protection (DSP); the Office of the Revenue Commissioners; and the Pensions Authority. In 2020 the IDPRTG published a report which set out a number of actions to aid in the harmonisation and simplification of supplemental pensions.
A number of reforms suggested by the IDPRTG 2020 report been implemented or are actively being progressed. From a Department of Finance perspective, multiple changes to tax legislation have been introduced that have helped simplify the pensions landscape, including Personal Retirement Savings Accounts (PRSAs).
At present, there are 11 actions completed; and 18 actions are currently being advanced. There are a number of outstanding reforms highlighted in the report that are substantial and complex in nature and will require major policy work across a number of Departments and bodies. Further to this, careful sequencing and interdependency across other issues is necessary for implementation.
The IDPRTG has provided a valuable cross departmental forum where key policy stakeholders can engage, and the group remains committed to progressing outstanding actions and continuing pension reform going forward.
