Dáil Éireann Debate, Wednesday - 26 September 2012
61. Deputy Olivia Mitchell asked the Minister for Finance further to Parliamentary Question No. 81 of 11 January 2012, if the group that was established to examine charges in the pension industry has yet reported to him; his views on whether it may be possible to use this information to advance the issue of the industry adsorbing the impact of the pension fund levy; and if he will make a statement on the matter. [41014/12]
Amharc ar fhreagraIn my response to previous parliamentary questions on this issue, I have advised that a group has been established to examine charges in the pensions industry. The group is chaired by the Department of Social Protection with representatives of the Central Bank and the Pensions Board. This study will provide an initial benchmark on the level of charges for different forms of funded supplementary pension arrangements and will provide information in relation to the disclosure of charges. These data have not been available to date so the study will provide valuable information to inform policy. I understand that the report of this group is currently being finalised and will then be presented for consideration to my colleague, Ms Joan Burton TD, the Minister for Social Protection before being submitted to Government and published. Appropriate decisions will be made on the report’s contents and recommendations, and among other things, on the scope for productive interaction with the pensions industry in relation to offsetting the impact of the pension fund levy through reductions in fees or charges.
