It is not correct to say that only one company can provide additional voluntary contribution, AVC, facilities for public servants. A number of companies currently provide such facilities for staff throughout the public service. My Department does not have any role in setting the fees pertaining to AVC schemes. In the Civil Service, for example, there are a number of such schemes sponsored by unions and staff representatives.
Once an AVC scheme has been agreed between a union and a provider, membership of such schemes is a private undertaking between the person concerned and the AVC provider. Membership is subject to the rules of the AVC scheme, which are, in turn, governed by general rules set by the Revenue Commissioners covering the maximum pension benefits, etcetera, which an individual can derive from membership. Departments facilitate staff by making deductions from pay on behalf of the AVC provider.
I am not in a position to say whether or not the IFSRA has examined any matters relating to AVC schemes.
The Deputy will be aware that the Commission on Public Service Pensions recommended the establishment of a single AVC type scheme for the public service, SPEARS. Discussions are currently under way with staff representatives and it is intended that a joint working group will be established in the near future with a view to examining detailed issues related to the establishment of such a scheme.
