Deirdre Clune (Cork South Central, Fine Gael)
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Question 42: To ask the Minister for Social Protection if he has reviewed the reasons for the low take up of personal pensions among women here; the social consequences for women of this below average take out of personal pensions; the steps he will take to increase the number of women who take out personal pensions; and if he will make a statement on the matter. [43869/10]

Jan O'Sullivan (Limerick East, Labour)
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Question 52: To ask the Minister for Social Protection his views on the sovereign annuity proposal made to him by the Irish Association of Pension and the Society of Actuaries. [43848/10]

Joan Burton (Dublin West, Labour)
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Question 71: To ask the Minister for Social Protection the way he plans to reform pension policy in the short-term. [43868/10]

Éamon Ó Cuív (Galway West, Fianna Fail)
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I propose to take Questions Nos. 42, 52 and 71 together.

The National Pensions Framework seeks to increase pensions coverage for all employees. The Government's Green Paper on Pensions, published in 2007, acknowledges that occupational pension income for women is substantially lower than for men. This is undoubtedly due to a number of reasons, such as the level of female participation in the labour force in the past. However, pension coverage for women has increased significantly from 40% in 1994 to 50% in 2008. In recent years, women have been one of the target groups in the National Pensions Awareness Campaign. As the Deputy is aware, Government proposals for an auto-enrolment scheme for employees currently without access to a pension scheme will dramatically increase pension coverage rates for both men and women.

A number of measures contained in the Government's National Pensions Framework are currently being developed for introduction in the short term. Firstly, proposals to streamline the retirement options for defined contribution (DC) scheme members are currently being finalised by the Implementation Groups with a view to being brought to Government shortly.

Secondly, I recently announced the fast-tracking of a proposal in the National Pensions Framework for the development of a new defined benefit model with fixed contribution rates for both employers and employees and flexible benefits, but with a level of 'core' benefit which would have to be guaranteed. Work on this initiative is also progressing with a view to necessary legislation being introduced by mid-2011.

The proposal for a sovereign annuity scheme is being given careful consideration in both my Department and the Department of Finance. It must be stressed that the issue is by no means straight-forward and the benefits and risks involved for all stakeholders will be fully assessed before any decision is made.