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Seanad: Finance Bill 2010 (Certified Money Bill): Committee Stage. (25 Mar 2010)

Mary Hanafin: ...individual first accesses his or her pension benefits held in a personal retirement savings account, say by taking a tax-free lump sum, and opts to leave the remainder of the pension assets in the PRSA rather than purchasing an annuity with them or transferring to a NARF, the act of leaving the assets in the PRSA will itself constitute a benefit crystallisation event in its own right....

Written Answers — Departmental Agencies: Departmental Agencies (17 Dec 2009)

Mary Hanafin: ...N/A Citizens Information Board N/A Family Support Agency N/A Pensions Board The Pensions Board and the Revenue Commissioners are jointly responsible for the Personal Retirement Savings Account (PRSA) product approval process. The Pensions Board supervises the activities of providers in relation to their approved products and monitors compliance with the legislation regarding PRSAs. As...

Written Answers — Pension Provisions: Pension Provisions (20 May 2009)

Mary Hanafin: I understand that the Deputy is questioning what obstacles there may be in place for Personal Retirement Savings Account (PRSA) holders wishing to switch providers. Legislation covering the operation of PRSAs is detailed in Part X of the Pensions Act 1990. Specifically, Section 108 of that Act deals with transfers between PRSA providers. This section prevents obstacles to transfers by...

Written Answers — Social Welfare Code: Social Welfare Code (24 Feb 2009)

Mary Hanafin: ...apply depending on the source of the cash income. Where the spouse or partner of a claimant has earnings from employment, social insurance contributions, the health contribution, superannuation/PRSA contributions and trade union subscriptions are disregarded. €20 per day worked is then disregarded (up to a maximum of €60 per week) and 60% of the balance is assessed. The same...

Written Answers — Social Welfare Code: Social Welfare Code (2 Oct 2008)

Mary Hanafin: ..., social insurance contributions, health contributions, trade union subscriptions and additional voluntary contributions (AVC's) made in respect of personal retirement savings accounts (PRSA's) are disregarded. 50% of the balance is assessed as means. Where a person whose has been in receipt of one-parent family payment for 52 consecutive weeks prior to their earnings exceeding the limit...

Written Answers — Ministerial Staff: Ministerial Staff (24 Apr 2007)

Mary Hanafin: ...by the Deputy in relation to staff in my office is as follows: Name Date of Appointment Salary Special Adviser Averil Power — Appointed 29th September 2004 €87,202 pa, with Employer PRSA of 11% Personal Assistant Carl Gibney — Appointed 29th September, 2004 €51,352 pa Press Officer Geraldine Butler, HEO on APO Higher Duties — Appointed 8th November 2004 €66,377 pa Each of...

Written Answers — Pension Provisions: Pension Provisions (15 Dec 2005)

Mary Hanafin: The Pensions Ombudsman can investigate complaints referred to him by an actual or potential beneficiary of an occupational pension scheme or a personal retirement savings account, PRSA. These complaints can be against trustees, managers, employers, former employers or administrators. The annual report of the Pensions Ombudsman for 2004, published earlier this year, raised issues regarding...

Written Answers — Pension Provisions: Pension Provisions (1 Dec 2005)

Mary Hanafin: Arising from the provisions of the Pensions (Amendment) Act 2002, employers are obliged to facilitate access to personal retirement savings accounts, PRSAs, for some categories of employees in certain circumstances. The obligation arises where the employer does not operate a pension scheme, limits eligibility for membership of a scheme or imposes a waiting period for membership greater than...

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