Written answers
Tuesday, 21 October 2014
Department of Finance
Pension Provisions
Timmy Dooley (Clare, Fianna Fail)
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205. To ask the Minister for Finance the type of pension scheme provided to staff employed by the National Treasury Management Agency who work in the National Asset Management Agency; and if he will make a statement on the matter. [39766/14]
Michael Noonan (Limerick City, Fine Gael)
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Superannuation entitlements of NTMA staff are conferred under a defined benefit superannuation scheme set up under Section 8 of the National Treasury Management Agency Act 1990. Contributions are transferred to an externally managed fund. Members of the Scheme prior to 1 January 2010 will receive benefits based on final salary. Members of the Scheme from 1 January 2010 will receive benefits based on career average earnings.
The arrangements set out above apply to NTMA employees assigned to NAMA in the same way as to other NTMA employees.
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