Fergus O'Dowd
Question:435. Deputy Fergus O'Dowd asked the Minister for Social Protection if she will respond to concerns raised in correspondence (details supplied); and if she will make a statement on the matter. [18733/24]
View answerTuesday, 30 April 2024
Questions (435)
Written answers
The Deputy will appreciate that I cannot comment or intervene on the pension arrangements applying to a particular pension scheme.
My Department has no role in setting the level of pension increases received by members of occupational pension schemes, irrespective of whether those schemes operate in the public or private sector. Pension increases for occupational pensions are a matter for the scheme trustees to whom enquiries should be addressed.
As the Deputy will be aware, scheme trustees have duties and responsibilities under trust law, under the Pensions Act 1990, as amended, and under other relevant legislation. The duties of pension scheme trustees include administering the scheme in accordance with the law and the terms of the trust deed and scheme rules as well as ensuring compliance with the requirements that apply to these schemes. Trustees have a fiduciary duty to act in the best financial interest of all scheme members, whether active, deferred or retired, and must serve all beneficiaries of the scheme impartially.
The Private Members’ Bill on Industrial Relations (Provisions in Respect of Pension Entitlements of Retired Workers) Bill 2021 is primarily focused on amending industrial relations-related legislation. As such, the Department of Enterprise, Trade and Employment, which has overall policy responsibility for such matters, is the lead Department for addressing these issues. As a Private Members Bill, it is a matter for the sponsoring deputies to progress the Bill.
Finally, issues relating to the application of the pensions levy are a matter for the Minister for Finance.
I hope this clarifies matters for the Deputy.