Finian McGrath
Question:29. Deputy Finian McGrath asked the Tánaiste and Minister for Social Protection to support a matter (details supplied) regarding pensions; and if she will make a statement on the matter. [8193/16]
View answerTuesday, 26 April 2016
Questions (29)
Written answers
I am very aware of the issues arising and very negative consequences caused by the problems in the Irish Airlines (General Employees) Superannuation Scheme (IASS) for all active, deferred and pensioner members and appreciate the difficulties presented to all stakeholders in addressing the significant deficit in this scheme. However, you will appreciate that the funding difficulties in this scheme are primarily a matter for the Trustees, the companies participating in the scheme, the scheme members and the Pensions Authority and I cannot comment on specific issues arising in a particular scheme or schemes.
The Principle of Equal Pension Treatment between men and women in occupational pension schemes is well established in Ireland. On 1 January 1993 the Government introduced Part VII of the Pensions Act which specifically provides for implementation of Council Directive 1986/378 EC and the principle of equal pension treatment. In 2004, the Pensions Act was amended by the insertion of a new Part VII which expands the grounds on which discrimination in an occupational benefit scheme is prohibited in accordance with the Principle of Equal Pension Treatment.
Defined benefit pension schemes in Ireland are, in general, set up under trust law. From a regulatory perspective the Trustees of pension schemes must comply with the provisions in the Pensions Act 1990 which, among other things, sets down the requirements in relation to equal pension treatment. Trustees have a fiduciary duty under trust law to act in the best interest of scheme members and beneficiaries. Should the Pensions Authority become aware that Trustees are not in compliance with the provisions of the Pensions Act, it has the power to investigate the state and conduct of a pension scheme.