Séamus Brennan (Dublin South, Fianna Fail)

A number of issues, including the provision of information, have been raised. The Pensions Board provides an extensive information service through the provision of a range of free information booklets on occupational pensions and through its website, www.pensionsboard.ie. The pensions booklets and website cover a range of topics, such as pension options, what happens to a pension if one leaves the scheme and what happens when a pension scheme is wound up or mergers or acquisitions take place. There is also a consumer guide to PRSAs and a pensions calculator to permit a person to calculate his or her future entitlements.

The information available through the information service is continually updated and promoted as part of the board's ongoing pensions awareness campaign. As the Senator is aware, the taxation issues are primarily a matter for the Department of Finance and the Revenue Commissioners. The Green Paper on pensions will be finalised shortly and will address issues relating to taxation, charges and commutation factors.

Senator Terry was also concerned about the survey carried out by the Pensions Board. The board is currently finalising a survey of occupational pension schemes with at least 1,000 active members seeking data on deferred members of these schemes. On Friday, 30 March 2007, the Pensions Board will submit to the Oireachtas Joint Committee on Social and Family Affairs the information about the 28 schemes which have responded to it in order that the committee will have the outcome of this survey. The survey being finalised by the Pensions Board will indicate the number of deferred members who did not qualify for preservation of their pension rights. This will provide the information necessary to estimate the cost of extending preservation to those deferred members.

The survey was conducted in respect of 34 schemes with 1,000 or more active members. To date, the board has received the information requested from 28 schemes and is confident it will receive the required information from the remaining six schemes. The information requested as part of the survey included the number of deferred members with no entitlements to revaluation of benefits, the number of deferred members with entitlements to partial revaluation of benefits and details of any discretionary increase granted to deferred pensions.