Seán Sherlock (Cork East, Labour)
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Question 427: To ask the Minister for Social and Family Affairs the total operating budget for all regulators and regulatory authorities within the State for the years 2006 and 2007; and if he will make a statement on the matter. [7023/08]

Martin Cullen (Waterford, Fianna Fail)
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The Pensions Board is the only regulatory body operating under the aegis of the Department of Social and Family Affairs. The statutory role of the Board is to monitor and supervise the operation of the Pensions Act 1990. This involves the regulation of occupational pension schemes and Personal Retirement Savings Accounts and the provision of advice to the Minister for Social and Family Affairs on pension matters generally.

The operations of the Pensions Board are largely financed by annual fees payable to it by occupational pension schemes and by providers of Personal Retirement Savings Accounts. Expenditure by the Board in 2006 and 2007 was €6.60 million and €6.59 million (provisional) respectively.