Dáil debates

Thursday, 27 January 2022

Ceisteanna Eile - Other Questions

Pension Provisions

11:10 am

Photo of Simon CoveneySimon Coveney (Cork South Central, Fine Gael) | Oireachtas source

The response I have here states that it is clear that the reduction of these pensions is not arbitrary. It is provided for under legislation and is done on foot of a bona fide decision by the Minister after careful consideration of the specific circumstances of the individual case. The person or his or her solicitor is advised of the statutory provisions and of the potential implications of his or her application. Representations are invited regarding the person's circumstances, details of the compensation actually received and whether there are any special or extenuating circumstances involved. On receipt of representations, cases are submitted to the Minister for decision, setting out the relevant facts of the case, including details of the representations made and an actuarial assessment in pension cases. The actuarial assessment, which is carried out by an actuary based in the Department of Public Expenditure and Reform, translates the compensation into an annuity value based upon various assumptions, including the date the money was received and the life expectancy of the individual. Full account is then taken of representations made and the actuarial assessment before a final decision is made by the Minister. There are no plans to discontinue the application of this statutory provision at this time. There is a process where cases are looked at on an individual basis. Extenuating circumstances are looked at and a recommendation is made to the Minister for his or her decision.

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