Written answers

Thursday, 19 November 2015

Department of Public Expenditure and Reform

Defined Benefit Pension Schemes

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail)
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18. To ask the Minister for Public Expenditure and Reform the number of defined-benefit pension schemes currently listed for public sector employees, the number that are in deficit; his plans to consolidate any of these schemes; and if he will make a statement on the matter. [40606/15]

Photo of Brendan HowlinBrendan Howlin (Wexford, Labour)
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In relation to pension schemes for public service employees or for employees in the wider public sector, schemes are in general provided for under legislation relating to the body or sector and subject to the oversight of the relevant line Minister.  The Occupational Pension Schemes (Funding Standard) (Amendment) Regulations 2014 which were signed by the Minister for Social Protection on 16 June 2014 provide a list of public service pension schemes that are exempt from the funding standard provisions of Part IV of the Pensions Act 1990. 

There are also a number of defined benefit schemes operated by Commercial State Bodies which are subject to the funding standard.  Although I as Minister have certain consent functions to changes in scheme terms, none of these schemes come under the direct auspices of my Department.

My Department has direct oversight in relation two defined benefit schemes i.e. the Civil Service (Established Staff) Superannuation Scheme and the Civil Service (Unestablished Staff) Superannuation Scheme. In addition, under the Financial Measures (Miscellaneous Provisions) Act 2009, the role assigned to "relevant Minister" as defined in that Act, is now the Minister for Public Expenditure and Reform in respect of The Institute of Public Administration Superannuation Fund, the Economic and Social Research Institute Pension Plan, and the Economic and Social Research Institute Superannuation Plan. All of these schemes are currently operated on a pay-as-you-go basis and as such no deficits arise. I have no current plans for consolidation of these schemes.

An effective consolidation of public service pension schemes will in any event be achieved over time by way of the Single Public Service Pension Scheme, which I launched on 1 January 2013. The Single Scheme applies to all areas of public service employment, and is now the default pension scheme for first-time new-joiner public servants. In general the only new-joiner public service personnel who can be enrolled in pre-Single Scheme public service schemes are those with a recent work history elsewhere in the public service. Therefore the multitude of existing public service schemes are regarded as in general closed to new entrants, and will be fully displaced over time by the Single Scheme.

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