Gerald Nash (Louth, Labour) | Oireachtas source

In fairness to Senator Cullinane, he has made a strong case for me to consider this particular amendment, as have his colleagues in the Dáil. I cannot, for the reasons I have set out previously, accept the amendment. The pensions issue has been given careful consideration by the Government, particularly the Tánaiste. She has recently introduced regulations and approved amendments to guidance issued by the Pensions Authority to provide for the recognition by the trustees of a pension scheme of groups representing the interests of pensioners and deferred members of pension schemes. These changes mean that all groups representing the interests of the various categories of pension scheme membership are treated the same in the context of provisions in the Pensions Act. That is what governs issues to do with the rules and deeds of pension schemes, etc., and not the industrial relations forums and machinery that we have in the State.

The changes to regulations will require that trustees of a pension scheme notify the groups representing the interests of retired and deferred members where the trustees of a scheme propose to apply to the Pensions Authority to restructure scheme benefits under section 50 of the Pensions Act. This notification affords the representative group an opportunity to make a submission to the trustees of the scheme in regard to such proposals.

In addition, the Pensions Authority is now required to notify groups representing the interests of scheme members where the Pensions Authority proposes either to issue a unilateral direction, under section 50 of the Pensions Act, to the trustees of a scheme to restructure scheme benefits, or to wind up a pension scheme under section 50B of the Pensions Act.This notification affords the representative group an opportunity to make representations to the Pensions Authority in relation to such proposals. The regulations also give the representative group the right to appeal a direction by the Pensions Authority on a point of law. I am strongly of the view that it is within this framework rather than through the State's industrial relations machinery that a collective approach is best effected. Accordingly, I cannot accept amendment No. 11.