Brendan Smith (Cavan-Monaghan, Fianna Fail)
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To ask the Minister for Finance if a register of all pension schemes approved by the Revenue Commissioners exists; and if so, the statutory agency with which such a register is held; if the relevant legislation covering this can be referred to; the Department that is currently responsible for same; and if the register is available to the public and the information headings under which data is published for each scheme. [38664/12]

Michael Noonan (Limerick City, Fine Gael)
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I assume that the Deputy’s reference to pension schemes relates to occupational pension schemes established by employers on behalf of their employees. I am informed by the Revenue Commissioners that they maintain a database of all employers who have occupational pension schemes approved by them. The statutory requirements relating to applications for approval of such schemes are contained in Part 30, Chapter 1 and Schedule 23 of the Taxes Consolidation Act, 1997.

An application for the approval of any retirement benefits scheme must be made in writing by the administrator of the scheme to the Revenue Commissioners (in such form and manner as they may specify) before the end of the first year of assessment for which approval is required, and must be supported by-

(a)a copy of the instrument or other document constituting the scheme,

(b)a copy of the rules of the scheme and, except where the application is being made on the setting up of the scheme, a copy of the accounts of the scheme for the last year for which such accounts have been made up, and

(c)such other information and particulars (including copies of any actuarial report or advice given to the administrator or employer in connection with the setting up of the scheme) as the Revenue Commissioners may consider relevant.

Details of the Revenue Commissioners database of approved employer pension schemes are not publicly available due to Revenue’s obligations to taxpayer confidentiality.

I am also informed that the Pensions Board maintains a register of occupational pension schemes, all of which are approved by the Revenue Commissioners. The trustees of such schemes must (in accordance with Section 60 of the Pensions Act, 1990) register with the Pensions Board within one year of their commencement date. This register is not available to the public. The annual report published by the Pensions Board details the total number of registrations within that year along with the accumulated number of schemes and active members since inception. This information includes both defined benefit (subject to funding standard), defined benefit (not subject to the funding standard) and defined contribution schemes and indicates the range of active scheme membership.