Written answers
Thursday, 5 May 2005
Department of Social and Family Affairs
EU Directives
5:00 pm
Eamon Ryan (Dublin South, Green Party)
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Question 223: To ask the Minister for Social and Family Affairs the European directives in his Department that are awaiting full implementation. [14653/05]
Séamus Brennan (Dublin South, Fianna Fail)
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There is one directive which falls within the responsibility of my Department which has not yet been fully implemented. This is EC Council Directive 2003/41/EC on the activities and supervision of Institutions for Occupational Retirement Provision — more generally known as the IORPs directive. This sets out a framework for the operation and supervision of occupational pension schemes in all member states and will facilitate pan-European pension plans. Member states are required to have the provisions of the directive transposed into national law by 23 September 2005.
In Ireland, the Pensions Act 1990 already provides for much of the framework set down in the directive. A number of further amendments to the Pensions Act were recently included in sections 27 to 37 of the Social Welfare and Pensions Act 2005 to ensure compliance with the directive. Regulations are also required to set out some of the more detailed requirements relating to investment rules, qualifications for trustees of schemes and cross-border arrangements. The drafting of these regulations is under way and I am confident that all the necessary legislative measures will be enacted before the transposition date of 23 September 2005.
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