Eamon Ryan (Dublin Bay South, Green Party)
Link to this: Individually | In context | Oireachtas source

I refer the Deputy to the reply to Parliamentary Question No. 47 of 8 September 2022which notes that neither my Department nor DPER is legally permitted to grant pre-approval for a pension increase. An Post, which is an independent commercial semi-state body, has accordingly undertaken to submit that request in 2023 with the appropriate financial and actuarial reports required for further analysis.As stated in DPER Circular 16/2021, such proposals require NewERA’s views, as well as a business case setting out the strategic, policy and financial rationale for the proposed increase. The business case may also necessitate the inclusion of recent actuarial and financial reports, as will be the case with any subsequent An Post pension increase request.

Paragraph 8 of Circular 16/2021 states that approvals should be submitted for approval well in advance of any decision to implement changes and this is in acknowledgement of the necessary processes that must be completed and in order to ensure that pension increases are not unduly delayed. However, it should be recognised that the pension approval process does take time which is necessary to ensure that robust governance procedures are in place.