Thursday, 9 May 2019

Questions (157)

John Curran


157. Deputy John Curran asked the Minister for Employment Affairs and Social Protection if an evidence-based assessment will be carried out on the transposition of IORP II directive on the potential additional costs that may arise for small pension schemes; and if she will make a statement on the matter. [20181/19]

View answer

Written answers (Question to Employment)

The transposition of the IORP II Directive will result in significant improvements to the regulation and governance of funded occupational pension schemes in Ireland. Officials in my Department, supported by the Pensions Authority, have conducted detailed analysis on the implementation of the Directive. The drafting of regulations is at an advanced stage and my Department is working towards transposing the Directive as early as possible, subject to a case before the Courts.

As the Deputy may be aware, an application has been granted for a judicial review for a set of reliefs and a stay in relation to the transposition into Irish law of the IORP II Directive. As such, it would not be appropriate for me to comment on matters that are currently before the Courts.

I hope this clarifies the matter for the Deputy.