The matter of representation by pensioner groups in consideration of a change to scheme benefits needs to be considered in a broader industrial relations context. This is a matter for my colleague, the Minister for Jobs, Enterprise and Innovation and I have referred this matter to him for consideration.
It is normal practice for my officials to engage with representatives of stakeholders in relation to any substantial change to the Pensions Act. The consultation process which preceded the publication of the Social Welfare and Pensions (No. 2) Bill, 2013 included engagement with representatives of pensioners, the pensions industry, employers and trade unions. Written submissions were also sought from these stakeholder groups.
I would also advise that any consideration of a restructure of pension scheme benefits under section 50 of the Pensions Act must comply with the provisions in the Pensions Act and with guidance issued by the Pensions Board. This guidance makes provision for the notification of all pensioners in advance of any application to the Pensions Board to restructure scheme benefits. In such circumstances a pensioner will have at least one month to make a submission to the trustees of the scheme in relation to such a proposal. The Pensions Board must be satisfied that all the provisions in the guidance are complied with before the Board will consider issuing a notice to restructure scheme benefits.