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Automatic Enrolment Retirement Savings System Bill 2024: Second Stage (Resumed) (17 Apr 2024)

Leo Varadkar: ...who are only working part-time while they are students to opt out probably does not make a huge amount of sense. The trade unions have raised some issues in respect of anomalies around people who already have PRSAs. I am not sure whether their points are correct but they do need to be responded to. It would be terribly unfair if people who had already set up a PRSA were disadvantaged...

Leaders' Questions (13 Dec 2017)

Leo Varadkar: -----by paying into a pension fund or a personal retirement savings account, PRSA, and that, of course, is what public servants do. If one is a teacher or a civil servant and one works for the public service, one makes contributions to the public pension fund.

Written Answers — Department of Social Protection: Pension Provisions (10 May 2017)

Leo Varadkar: ...for funding pension arrangements for such employees, even where the companies in question are reliant on State funding. It is open to individuals to make provision for a pension by way of PRSA which all employers are obliged to facilitate. Nevertheless, the Deputy should note that the issue of pension provision for CE supervisors is currently being examined by a Community Sector High...

Written Answers — Department of Social Protection: Community Employment Schemes Supervisors (9 May 2017)

Leo Varadkar: ...responsible for funding pension arrangements for such employees even where the companies in question are reliant on State funding. It is open to individuals to make provision for a pension by way of PRSA which all employers are obliged to facilitate. Nevertheless, the issue of CE supervisors’ pension provision is currently being examined by a Community Sector High Level Forum...

Written Answers — Department of Social Protection: Community Employment Schemes Supervisors (2 May 2017)

Leo Varadkar: ...for funding pension arrangements for such employees even where the companies in question are reliant on State funding. It is open to individual CE supervisors to make provision for a pension by way of PRSA which all employers are obliged to facilitate. Nevertheless, the issue of CE supervisors’ pension provision is currently being examined by a Community Sector High Level Forum...

Written Answers — Department of Social Protection: Community Employment Schemes Supervisors (2 May 2017)

Leo Varadkar: ...for funding pension arrangements for such employees even where the companies in question are reliant on State funding. It is open to individuals to make provision for a pension by way of PRSA which all employers are obliged to facilitate. Nevertheless, the Deputy should note that the issue of CE supervisors’ pension provision is currently being examined by a Community Sector...

Written Answers — Department of Social Protection: Community Employment Schemes Supervisors (11 Apr 2017)

Leo Varadkar: ...for funding pension arrangements for such employees even where the companies in question are reliant on State funding. It is open to individual CE supervisors to make provision for a pension by way of PRSA which all employers are obliged to facilitate. However, the Deputy should be aware that the issue of CE Supervisors’ pension provision is currently being looked at by a...

Written Answers — Department of Social Protection: Defined Benefit Pension Schemes (17 Jan 2017)

Leo Varadkar: ...assurance policy with a life assurance company on behalf of each member (a buy-out bond for active members and deferred members or an annuity for pensioners); or transfer each member’s benefits into a PRSA, subject to certain conditions. It is important to note that the powers given to the Pensions Authority to reduce benefits or wind up a pension scheme are to protect pension...

Written Answers — Department of Social Protection: Pension Provisions (22 Nov 2016)

Leo Varadkar: ...The role of the Pensions Authority is to promote and support compliance with the Pensions Act and to address any non-compliance it encounters. It is not, however, responsible for running pension schemes and PRSAs. Rather, the responsibility for managing pension schemes and PRSAs and for making decisions relevant to their operation and management rests with the trustees, the PRSA...

Written Answers — Department of Social Protection: Pension Provisions (10 Nov 2016)

Leo Varadkar: ...Act 1990 employers and trustees have obligations in respect of the remittance of contributions. Under Section 58A of the Act (occupational pension scheme/trust RACs) and Section 121 of the Act (PRSAs), the employer must ensure that all contributions deducted from the employees’ pay are paid to the trustee/PRSA Provider within 21 days of the end of the month in which the...

Written Answers — Department of Social Protection: Social Welfare Benefits Eligibility (6 Oct 2016)

Leo Varadkar: The earnings assessed for social assistance means testing purposes generally is based on earnings net of PRSI contributions, superannuation/PRSA contributions and trade union subscriptions. No account is taken in the calculation of any income tax/USC payable on earnings. The purpose of the current means-testing arrangements is to ensure that the maximum amount of payments go to the people...

Seanad: State Airports (Shannon Group) Bill 2014: Committee Stage (Resumed) (10 Jun 2014)

Leo Varadkar: .... They have been working for a semi-State company in the case of DAA and a very successful company in the case of Aer Lingus but their only option is to set up their own personal private pension scheme or a PRSA. Part of the solution to this problem will be the establishment of a new sustainable scheme of which they can become members. There is too much keenness in this country to pull...

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