Clare Daly (Dublin Fingal, Independent)
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179. To ask the Minister for Public Expenditure and Reform the reason for the delay in publishing regulations regarding the augmentation of single scheme benefits for public servants in the post 2013 single public sector pension scheme, in view of the fact that this delay prevents public servants from making additional voluntary contributions to the single public sector pension scheme and thus prevents them from making adequate provision for their retirement.; and if he will make a statement on the matter. [49277/17]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Single Public Service Pension Scheme (Single Scheme) was introduced for new entrants to the public service from 1 January 2013. There is no specific provision in the Public Service Pensions (Single Scheme and Other Provisions) Act 2012 which established the Single Scheme, to provide for the augmentation of pension benefits by individual members of the Single Scheme. Notwithstanding this, a commitment has been given that a facility for the purchase and transfer of additional pension benefits by Single Scheme members would be provided by way of Regulations under the Single Scheme Act.

Appropriate Regulations are being drafted and these will set out the rules of the new scheme. Consistent with the structure of the Single Scheme, it is intended  that the Regulations will allow Single Scheme members to purchase additional pension and lump sum referable amounts to augment pension benefits accrued under the Scheme. The Regulations are also expected to provide for the transfer of pension entitlements accrued in certain other Revenue approved pension schemes to the Single Scheme. The pricing of purchased benefits will be based on the actuarially calculated cost of paying out those benefits at retirement and will operate on a cost neutral basis to the Exchequer. 

The draft scheme is currently subject to detailed legal and other considerations and the intention is to bring forward Regulations on the new scheme as soon as these considerations are complete.

I should also highlight that it is open to any member of the Single Scheme to consider other pension investment products that are available in the market in order to enhance their pension provision. That is a matter for individual public servants.