Finian McGrath (Dublin North Central, Independent)
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289. To ask the Minister for Finance the position regarding mis-selling of a pension policy and the role of the Financial Services Ombudsperson (details supplied) [41309/14]

Michael Noonan (Limerick City, Fine Gael)
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Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions and it would not be appropriate for me to comment on how he performs those duties.

The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various powers in order to determine jurisdiction on a complaint. Included in this is a statutory timeframe.

Section 57BX (3)(b) provides:-

"A consumer is not entitled to make a complaint if the conduct complained of occurred more than 6 years before the complaint is made."Therefore, the legislation prohibits the Financial Services Ombudsman from examining any aspect of a complaint where the conduct being complained of occurred more than 6 years prior to the receipt of the complaint in his Office.

The Pensions Ombudsman investigates and decides complaints and disputes from individuals about their occupational pension schemes, Personal Retirement Savings Accounts (PRSAs) and Trust RACs where there is both maladministration and financial loss. He is completely independent and impartial. Section 131(4) of the Pensions Act 1990, as amended, provides that a complaint to the Pensions Ombudsman must be made "(a) within whichever of the following periods is the last to expire (i) 6 years from the date of the act giving rise to the complaint or reference, or

(ii) 3 years from the earlier of the following 2 dates, namely, the date on which the person making the complaint or reference first became aware of the said act and the date on which that person ought to have become aware of that act, or

(b) within such longer period as the Pensions Ombudsman may allow if it appears to him that there are reasonable grounds for requiring a longer period and that it would be just and reasonable so to extend the period."

The Deputy may wish to consider  whether the nature of the complaint would come within the remit of the Pensions Ombudsman.