Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Under section 41 of the Public Service Pensions (Single Scheme and Other Provisions) Act 2012, the Minister for Public Expenditure and Reform can initiate a review, or an actuarial review, or an actuarial review and revaluation of the single public service pension scheme, also known as the single scheme. I have no immediate plans for the carrying out of such a review, bearing in mind, in particular, that the single scheme has been in place for less than five years, which is a relatively short time in pension terms.

Since its commencement on 1 January 2013, the single scheme has been the default pension scheme for new-recruit personnel across all sectors of the Irish public service. It is administered principally by individual public service employers, who are known as "Relevant Authorities", and who discharge or oversee key member-facing responsibilities, such as the collection of contributions and the tracking of pension benefit accrual. The single scheme already has 60,000 members across the public service, with further significant membership growth in prospect. Against that overall background, the single scheme is, of course, subject to ongoing monitoring by my Department, as is the operation of the 2012 Act more generally.

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