Mick Wallace (Wexford, Independent)
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13. To ask the Minister for Social Protection the action she will take in relation to the situation for Tara Mines pensioners (details supplied); her views on amending section 50 of the Pensions Act 1990, as amended by section 35 of the Social Welfare and Pensions Act 2012, in order to offer more protection to employees against unfair reductions in their pension entitlements; and if she will make a statement on the matter. [4983/15]

Joan Burton (Dublin West, Labour)
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I am aware that many pension schemes are encountering funding difficulties at this time. A number of changes have been made to the Pensions Act to help both the employers and the trustees of defined benefit pension schemes respond to funding difficulties. These changes provide for the sharing of the risk of scheme underfunding across all scheme members. The issue of how these changes might be applied is a matter for the trustees of a scheme. I hope that these measures will help in resolving the funding difficulties in the Tara Mines schemes. You will appreciate it that it would not be appropriate for me to engage with or comment on developments relating to a particular pension schemes as these are a matter for the management of the company and the trustees of the pension schemes.

The trustees of a defined benefit pension scheme are required under trust law to act in the best interests of all scheme members. I do not plan to bring forward amendments to this section of the Pensions Act at this time but I will continue to monitor the application of this section on an ongoing basis.