Róisín Shortall (Dublin North West, Labour)
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Question 125: To ask the Minister for Finance if his attention has been drawn to the Trident Consulting report on future pension provision for teachers; and his views on its findings and his response to same. [43216/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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My Department is aware of the report by Trident Consulting entitled "Future Pension Provision" which was commissioned by the three teachers unions, ASTI, INTO and the TUI. In addition, my Department is aware of the views of these unions concerning the Government's planned introduction of a single pension scheme for all new-entrant public servants. The Trident Report was made available to officials of my Department and was the subject of a specific meeting between my officials and the teachers unions. As I announced in Budget 2010, the Government are committed to the introduction of a new single public service pension scheme for new joiners. The new scheme is aimed at securing considerable long-term Exchequer savings, while continuing to offer fair and reasonable pensions to retired public servants. Its principal features will include career-average benefit accrual, inflation-indexation of benefits and an increased pension age. Extensive consultations on the proposed new scheme with Government Departments and with the staff side have taken place. Draft legislation to introduce the new scheme is currently in preparation, and it is planned that the scheme will be operational in 2011.

I welcome the Trident Report as a contribution to the debate on pension provision. However the Report's recommended approaches to pension provision differs in fundamental respects with the Government's policy and I can not accept the Report as a policy basis for pension provision for new-entrant teachers at this time.