Vol. 487 No. 5
119 Mr. G. Mitchell asked the Minister for Social, Community and Family Affairs if his Department will examine the case of a person (details supplied) in Dublin 12 regarding pension contributions (details supplied); if she can get a refund of her contributions or, preferably, make retrospective contributions for the ten years that she worked part-time; and if his Department will provide helpful advice and assistance in the case. [4469/98]
This question refers to the operation of an occupational pension scheme which is governed by the particular rules of that scheme. I have asked the Pensions Board, which is the regulatory authority for occupational pension arrangements, to examine the issues raised and to advise the person concerned directly.
120 Mr. R. Bruton asked the Minister for Social, Community and Family Affairs if he has explored with the financial institutions a scheme whereby elderly persons could sell their house while retaining a right to occupy it for the remainder of their lives, thereby releasing resources from the asset value of their home to support them in comfort. [4420/98]
As the Deputy will be aware regulations, which came into effect in October 1991, allow that where a pensioner, or a person of pension age in receipt of a means tested payment from the Department, sells his or her principal residence and either buys or rents alternative accommodation, or moves into a private nursing home, the income derived from the sale shall be exempted from the means test in relation to the pension, or other relevant payment, up to a limit of £75,000. In the case of a couple the spouse must also be over 66.
I am presuming the Deputy is suggesting that income from the kind of arrangement he suggests would be exempted from the means test in the same manner as outlined above. The possibility of a scheme with the financial institutions as suggested by the Deputy has not been explored to date although it is one of the issues that will be considered in the coming year. I am aware that these kind of arrangements exist in some other European countries. The Deputy will appreciate that this proposal has a number of implications that will need to be examined in detail.
