Dáil Éireann Debate, Wednesday - 23 October 2019
201. Deputy Michael McGrath asked the Minister for Employment Affairs and Social Protection her plans to consolidate the range of pension schemes available; and if she will make a statement on the matter. [43725/19]
View answerUnder the Government’s Roadmap for Pensions Reform 2018-2023, a number of specific actions have been allocated to the Interdepartmental Pensions Reform and Taxation Group (IDPRTG). The IDPRTG is chaired by the Department of Finance and includes representatives from that Department as well as from the Department of Public Expenditure and Reform, the Department of Employment Affairs and Social Protection, the Office of the Revenue Commissioners and the Pensions Authority.
Action 3.12 of the Roadmap commits to, “Identify the options and develop recommendations to coherently rationalise the number of individual pension vehicles which exist at present.” In August 2018 the IDPRTG published a public consultation on issues under its remit including the reduction of the current number of pension savings vehicles. This consultation closed in October 2018. I am informed that, having reviewed and analysed the submissions received, the IDPRTG is currently working on its final report which it will send to the Minister for Finance in due course. This report will include its suggested options and recommendations for Action 3.12 in conjunction with a wide range of other recommendations.
I hope this clarifies the matter for the Deputy.
