Pensions Legislation

Dáil Éireann Debate, Tuesday - 25 November 2014

Tuesday, 25 November 2014

Questions (178)

Stephen Donnelly

Question:

178. Deputy Stephen S. Donnelly asked the Tánaiste and Minister for Social Protection further to Parliamentary Question No. 58 of 17 September 2014, which confirmed that an important provision of the Pensions Bill was the establishment of a Pensions Board, now the Pensions Authority, which would, where necessary, take legal proceedings against the defaulting trustees or any other culpable person who failed to fulfil the duties imposed upon them by law, including trust law and the Pensions Act; whether she will further confirm that, as stated in the Pensions Authority publication (details supplied), the duties of pension scheme trustees under trust law include administering the trust in accordance with trust law, all other law and the terms of the trust deed and rules; and if she will make a statement on the matter. [45224/14]

Written answers

Tánaiste and Minister for Social Protection

The Pensions Authority has published a range of information booklets on various aspects of pension provision. The booklet you refer to provides guidance on the duties and responsibilities of the trustees of a pension scheme. In the introduction, it states that the trustees “have duties and responsibilities under trust law, under other relevant legislation and under the Pensions Act, 1990, as amended. In section 3 of the booklet, it is stated that the duties of pension scheme trustees under trust law include administering the trust in accordance with trust law, all other law and the terms of the trust deed and rules.

The application of the relevant law will depend on the context and activity of relevant scheme trustees.