Darragh O'Brien (Dublin North, Fianna Fail)
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Question 359: To ask the Minister for Social and Family Affairs the progress in including a company's (details supplied) pension scheme in the newly announced pensions insolvency payment scheme initiative, as the scheme is underfunded and members are extremely concerned about their pension benefits; and if she will make a statement on the matter. [25035/09]

Mary Hanafin (Dún Laoghaire, Fianna Fail)
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Defined benefits pension schemes winding up in deficit and with an insolvent employer will be able to avail of pension insolvency payments scheme being introduced by the Department of Finance. I recently met with representatives of the trustees of this company's pension scheme and understand their concerns. On foot of discussions, I undertook that my officials would liaise with the Department of Enterprise Trade and Employment in relation to the matters raised. My officials will notify the representatives of the trustees in due course.

I would like to reiterate that recent changes to the Pensions Act do provide for a more equitable distribution of assets of pension schemes which wind up in deficit and this may benefit those current and former members of the company who have not yet reached retirement age.