Finian McGrath (Dublin North Central, Independent)
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Question 162: To ask the Minister for Social and Family Affairs if pension losses through major fraud scams have occurred; and if the pension and investment industry here is a safe haven for savings. [8128/07]

Finian McGrath (Dublin North Central, Independent)
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Question 163: To ask the Minister for Social and Family Affairs if the research carried out by a company (details supplied) on pension fund fraud is credible; and if he will investigate this matter. [8130/07]

Séamus Brennan (Dublin South, Fianna Fail)
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I propose to take Questions Nos. 162 and 163 together.

I am informed by the Pensions Board that no case involving loss of pension scheme members' benefits, as a result of major fraud, have come to light. Ireland has a strong regulatory regime for financial services, involving the Pensions Board and the Financial Regulator, to control the sale and security of pensions and other financial products. In the case of occupational pension schemes the fact that pension assets are held in trust and are separated from the business of the sponsoring employer is an added safeguard for members' benefits.

I am not aware of the research referred to by the Deputy. However, the Pensions Board has been requested to review whatever material is available to establish if it has any relevance in an Irish context.