Dáil Éireann Debate, Thursday - 20 May 2021
286. Deputy Bríd Smith asked the Minister for Social Protection the number of times and the schemes involved in which the Pension Authority issued a section 50 order under the Pensions Acts to reduce benefits to ensure a scheme stays within the minimum funding standard for defined benefit schemes since 2010. [27288/21]
View answerWhilst my Department is responsible for the legislation in this area, the issuance of Section 50 Directions are a matter for the Pensions Authority which is the independent body responsible for the regulation of occupational pensions in Ireland.
As the Deputy can appreciate, neither I as Minister nor the Pensions Authority can comment on individual schemes.
However, I am advised by the Authority that it has made 136 Section 50 Directions since 2010.
I trust this clarifies matters for the Deputy.
