Dáil Éireann Debate, Thursday - 19 February 2015
60. Deputy Terence Flanagan asked the Tánaiste and Minister for Social Protection if her Department will carry out an investigation of the management of the IASS pension fund in recent years; and if she will make a statement on the matter. [7619/15]
Amharc ar fhreagraDefined benefit pension schemes in Ireland are, in general, set up under trust law. The trustees of such pension schemes have a fiduciary duty to act in the best interest of all scheme members. In addition, the Pensions Act, 1990 provides for the regulation of occupational pension schemes and Personal Retirement Savings Accounts. The Pensions Act sets down clearly the duties and responsibilities of the trustee of a pension scheme. Section 18 of the Pensions Act provides that the Pensions Authority has the power to investigate the state and conduct of a pension scheme. Accordingly, I would advise that you formally bring any concerns you have about the management of the IASS pension fund to the attention of the Pensions Authority, which can be contacted at http://www.pensionsauthority.ie/en/Contact_us/
