Robert Molloy
Question:718 Mr. Molloy asked the Minister for Social Welfare the reason deferred pension scheme members have no representation on the Pensions Board; and if he will make a statement on the matter. [15074/96]
Written Answers. - Representation on Pensions Board.
The method of nominating people to the Pensions Board is set down in the Pensions Act, 1990. I consider the board to be representative of all pension interests, including all members of schemes both active and deferred.
Under the Pensions (Amendment) Act, 1996, which was recently enacted, I provided for an additional two members on the board, both of whom must be trustees of pension schemes, one nominated by the Irish Congress of Trade Unions, ICTU, and one nominated by the Irish Business and Employers Confederation, IBEC. These representatives jointed the board on 5 July 1996.
The Pensions Board represents a balance of interests between the pension scheme members, employers, trustees and the industry generally. It provides an excellent forum for the strategic development of pensions policy over its term of office.