Seanad debates

Wednesday, 28 March 2007

Social Welfare and Pensions Bill 2007: Committee Stage

 

5:00 pm

Sheila Terry (Fine Gael)

I did not address amendment No. 12 when I was speaking. I thank the Minister for his response and look forward to the results of the survey.

The purpose of my amendment was to ensure the Pensions Board has the authority to compel companies to give this information. I know the Minister said companies are complying with the request on a voluntary basis, but I can show him responses to letters I have written to the Pensions Board over a ten-year period requesting this same information. The replies I received make fairytale reading. Even at this stage, the Pensions Board has difficulty in securing this information because I was told in November that the information would be available in January.

All I am trying to do is to strengthen the legislation to enable the Pensions Board to get from companies the information it requires, and the Minister should do likewise. We change our laws to suit the pensions industry. The amendment I am asking the Minister to accept is minor. I strongly advise that he includes this amendment, at least on Report Stage tomorrow if he cannot do so today, because we know some companies may not answer the request from the Pensions Board, which is not good enough. They should be compelled to do so.

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