Willie O'Dea (Limerick City, Fianna Fail) | Oireachtas source

I agree that it looks a fairly complex measure. My interpretation of it is that the trustees of a pension scheme are required to take into account the fact that when somebody reaches the age of 65, they are getting a transition pension. What that means is that they continue paying the person the same pension but reduce it by the amount of the transition pension so in net terms, the person will finish up equal anyway. With the removal of the transition pension, this allows trustees to act as if the transition pension was still being paid and reduce the amount of the private pension accordingly even though the person is not getting the transition pension anymore.

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