Section 59 of the Pensions Act 1990 sets out the general duties of trustees of pension schemes one of which is where appropriate, to make arrangements for the payment of the benefits as provided under the rules of the scheme as they become due. My Department provides support to pension schemes that are having difficulty locating scheme members by providing a mail hosting service. This service operates by sending a letter to a person’s last known address asking them to make contact with their pension scheme.
A group chaired by my Department and comprising of representatives from the Pensions Board and the Revenue Commissioners has considered ways of facilitating a more enhanced pension tracing facility and as a result my Department is working closely with the Revenue Commissioners to put in place an automated solution to capture the required data which will facilitate a person to trace his or her accrued pension rights in former employment.
The establishment of a dormant accounts type fund into which the accrued benefits of untraceable scheme members would be lodged will also be considered.
