Lucinda Creighton (Dublin South East, Independent)
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78. To ask the Minister for Finance his views on whether the split responsibilities between his Department and the Department of Social Protection on pensions policy creates a disconcerted, divided and poor management structure for addressing an issue of enormous importance to the future liabilities of the State; and if he will make a statement on the matter. [51762/13]

Michael Noonan (Limerick City, Fine Gael)
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At the outset the Department of Social Protection has policy responsibility for the pensions system in Ireland from a social policy context as well as determining the future direction of how this policy should unfold. This policy area includes pensions adequacy to ensure sufficient income in retirement, the sustainability of the pension system in the light of demographic and investment challenges, the modernity of pension systems and overall equity within the pension system. The Department of Finance has responsibility for general insurance policy issues and in that regard negotiates and transposes insurance directives the bulk of which underpin how insurance companies can conduct their business in Ireland and elsewhere from a prudential perspective. The Department is also responsible for developing and enacting domestic insurance legislation where appropriate e.g. the Insurance Act 2011.

Furthermore the Department of Public Expenditure and Reform is responsible for pension’s policy in the public sector.

While the Department of Social Protection has the lead policy role, there is an integrated whole of Government approach taken towards the issue of Pensions Policy. A Cabinet Committee on Pensions which includes the Departments of Social Protection, Finance and Public Expenditure and Reform, as well as the Department of Jobs Enterprise and Innovation, meets regularly. Where overlaps in policy responsibility exist the Government Departments concerned engage closely to ensure the continued coherency and relevance of public policy. This includes the National Pensions Framework in 2010 and the recent OECD ‘Review of Irish Pensions System’.