Pension Provisions.

Dáil Éireann Debate, Wednesday - 10 October 2007

Wednesday, 10 October 2007

Ceisteanna (167)

Richard Bruton

Ceist:

236 Deputy Richard Bruton asked the Minister for Social and Family Affairs if his attention has been drawn to the complaint that AVCs are sold to public servants without a clear comparison of the relative benefits of opting to buy back national years of service; and if he or the agencies who monitor pension issues would consider developing codes of practice that would ensure better information in the hands of public service workers when they make decisions regarding additional pension cover. [22909/07]

Freagraí scríofa

Minister for Social and Family Affairs (Deputy Martin Cullen)

The Pensions Board has responsibility under the Pensions Act to monitor and supervise the operation of pension schemes. The Pensions Act includes provision for the disclosure of a range of information to scheme members in relation to pension benefits. The issues in this case relate to the sale of financial products, which is regulated by the Financial Regulator, who comes under the aegis of the Department for Finance.