Joan Burton (Dublin West, Labour) | Oireachtas source

I appreciate Senator Mooney's concerns. The training and selection of trustees in obviously critical in pension funds. I do not propose to accept the amendment, the reasons for which I will clarify.

Section 3 of the Pensions Act already makes it an offence for a trustee to fail to notify members where the pension authority makes a direction for a scheme to restructure scheme benefits. Section 3 of the Act provides for a range of sanctions for those guilty of an offence, under the Act, including fines and or a custodial sentence. I put it to the Senator, with respect, that there is no requirement for this amendment as it is already covered in the Act.