Seán Haughey (Dublin North Central, Fianna Fail)

Section 3 defines terms in Part 3 of the Bill. The section also clarifies that the assets to be transferred do not include assets covering additional voluntary contributions on a defined contribution basis. Following the transfer, the funds of these additional voluntary contributions schemes will be held in a separate trust for the contributing members. As for the Senator's specific question, in general such pension schemes are in line with those in the public service. The Bill specifies that the schemes will continue on the same terms as on the date mentioned.