asked the Minister for Labour if the ex gratia portion of pensions in payment by Irish Shipping Limited (details supplied) prior to the liquidation of the semi-State body is payable from the Insolvency Fund in view of section 7 of the Insolvency Act, 1984; and if he will make a statement on the matter.
Written Answers. - Payment of Pensions.
413.
The Protection of Employees (Employers' Insolvency) Act, 1984, does not provide for the payment of pensions or parts of pensions payable on an ex gratia basis. Section 7 of the Act provides only for the payment from the Redundancy and Employers' Insolvency Fund into the assets of an occupational pension scheme of certain outstanding contributions. The amounts payable from the fund are: (1) the amount deducted from the employees' remuneration in respect of contributions to an occupational pension scheme during the 12 months prior to the insolvency of an employer but which were not paid into the scheme, and (2) either the outstanding contributions due to be paid into the scheme by an employer on his own behalf during the same period, or the amount certified by an actuary to be necessary to pay the benefits provided by the scheme, whichever is the lesser amount.