asked the Minister for Social Welfare if it is intended to implement the recommendations of the first report of the National Pensions Board; and if he will make a statement on the matter.
Written Answers. - National Pensions Board Report.
28.
Legislation for the future regulation of occupational pension schemes is being drafted at present. This legislation will take account of the recommendations in the First Report of the National Pensions Board and subsequent consultation with all the interested parties involved in pensions, including the social partners. It is expected that the legislation will be published early in the New Year.
The new legislation will be designed to protect the interests of members of occupational pension schemes by laying down minimum standards for schemes in a number of areas. These will include the compulsory preservation of pension entitlements for members who change employment, the disclosure of information to scheme members, the introduction of a minimum funding standard for funded schemes and the duties and responsibilities of pension scheme trustees.
The Pensions Board published a further report in June last containing proposals for equal treatment of men and women in pension schemes. The new legislation will take account of these proposals and will also provide for the implementation of the terms of the EC Directive on equality of treatment for men and women in occupational schemes.