Parliamentary Question addressed to the Minister for Social Protection

To ask the Tánaiste and Minister for Social Protection if the newly established Pensions Council will be monitoring the implementation of the recommendations in the report on pension charges 2012; and if she will make a statement on the matter?

I recently established the Pensions Council to help strengthen the pensions environment and give consumers greater input into pension policy.  The function of the Pensions Council is to advise the Minister for Social Protection on matters of relevance to pensions, with a particular focus on policies to support the sustainability and adequacy of pension provision.  It will ensure that the system has a far stronger consumer focus.  Mr Jim Murray, former Director of the European Consumers Organisation (BEUC), who has a notable record as a consumer rights advocate, will chair the Pensions Council.

The work of the Pensions Council will be advanced through research on pensions policy development, either in terms of significant reports on the overall direction of pension policy, or more discrete pieces of work examining particular subject areas.  Whilst the Pensions Council’s inaugural meeting has yet to take place, I have asked that the matter of pensions charges be a priority item for consideration.  I have also asked that the pension gender gap and the gender-proofing of the pensions reform programme be considered.