Pension Provisions

Thursday, 30 June 2016

Ceisteanna (31)

Clare Daly

Ceist:

31. Deputy Clare Daly asked the Minister for Social Protection if he is concerned that the administration, consultancy and actuarial services to the Central Remedial Clinic plan were all provided by the same organisation (details supplied) and that this organisation also owned the trustee of the plan, given the abrupt wind-up of a plan that the actuary had said in 2014 was on track to meet the minimum funding standard by 21 December 2017; and if he will make a statement on the matter. [18699/16]

Amharc ar fhreagra

Freagraí scríofa

Minister for Social Protection

The Deputy will appreciate that it is not appropriate for me to comment on matters relating to an individual pension scheme. In the first instance it is the responsibility of the trustees of a pension scheme to ensure compliance with the funding standard and other obligations set out in the Pensions Act 1990, as amended. The Pensions Authority is the regulatory body charged with the supervision of pension schemes and has the necessary powers under statute to investigate the conduct of a pension scheme should it become aware that the trustees of a scheme are not in compliance with the provisions of the Pensions Act. As the Central Remedial Clinic (CRC) is funded by the Health Service Executive under Section 38 of the Health Act 2004, the specific issues raised in relation to the administration, consultancy and actuarial services to the Central Remedial Clinic Pension Plan may be more appropriate for my colleague, the Minister for Health.

I hope this clarifies the matter for the Deputy.