Dáil Éireann Debate, Thursday - 7 October 2010
87 Deputy Terence Flanagan asked the Minister for Finance, further to Question No. 100 of 16 June 2010 (details supplied), when in 2011 he proposes to introduce this legislation; whether a title for the Bill been introduced; and if he will make a statement on the matter. [35516/10]
View answerThe National Pensions Framework includes a commitment to extend, from next year, the option to invest in an Approved Retirement Fund (ARF) to all members of Defined Contribution occupational pension schemes in respect of the main benefits from those schemes (subject to meeting a specified income requirement). I have also previously confirmed to the Deputy that the Government is aware that individuals who invested some or all of their pension funds in an Approved Minimum Retirement Fund (AMRF) because they did not satisfy the specified income requirement at retirement, may later satisfy that condition. The Government has decided to allow those individuals who meet the specified income conditions after retirement to have their AMRFs treated as ARFs to which they will have access. Details of how these changes are to be given effect are being examined as part of the work on the implementation of the Framework. In my reply to the Deputy's question in June last, I said that I considered that these matters would be dealt with in legislation next year and that the details would be made known at that time. That remains the position.
