Bernard Allen (Cork North Central, Fine Gael)
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Question 32: To ask the Minister for Finance if his Department is considering the transfer of pension assets of non-commercial semi-State schemes to the NTMA. [18329/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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There is a variety of pension schemes in the non-commercial State sector — for example, some resourced on a pay-as-you-go basis and some funded schemes using resources provided through the relevant grants with pension outlays partly resourced from the funds concerned and from ongoing grants. Where specific funds exist, they are managed and administered on behalf of their members by trustees. Where specific issues arise in relation to particular funds, it would be a matter at political level for the relevant Ministers who are responsible, in the first instance, for the supervision of the organisations concerned. The issue of pensions policy, including the issue of pension funds in non-commercial semi State bodies generally, is one which my Department keeps under consideration.

In this context, all possible options are given due consideration, including their appropriateness and feasibility. The particular option mentioned by the Deputy would give rise to a range of complex issues, both legal and otherwise. My Department has not adopted a view at this stage on the relative merits of the options available and so a decision to pursue this or any other possible approach does not arise at this time.