department of social and family affairs annual report 2006 - Welfare.ie

Government is committed to responding to this
by producing a framework for long-term pension
policy.
> National Pensions Awareness
Campaign
The National Pensions Awareness Campaign
was continued by the Pensions Board in 2006,
on behalf of the Government, with an extensive
campaign which included radio, television and
cinema advertising. Resources available for the
campaign were increased significantly to provide
a more intensive campaign in the run-up to
the maturing of SSIAs. The maturing of these
accounts is seen as an opportunity to promote
pension savings and, in this regard, the Minister
for Finance has introduced tax incentives to
encourage people to invest part of their SSIA
savings in pension schemes.
> OBJECTIVE 3
Implement relevant national and international
legislation.
In 2006 two acts were introduced. These were a)
Social Welfare Law Reform and Pensions Act 2006
and b) the Social Welfare Act 2006.
scheme may, in certain circumstances, without
the member’s consent, effect a transfer to a PRSA
instead of providing a preserved benefit, while
trustees of certain schemes in wind-up will be
required to produce an annual report. Finally, the
Act provided for Regulations to be made for the
review of work carried out by a scheme actuary,
and amended the functions of the Pensions
Ombudsman in relation to the operation of the
Internal Resolutions Dispute (IDR) procedure.
In addition to the four commencement orders
that were signed by the Minister to give effect
to the provisions of the Social Welfare Law
Reform and Pensions Act 2006, seven further
regulations in relation to occupational pensions
were promulgated in 2006. These regulations
expanded on the provisions of the Pensions
Act in relation to the disclosure of information
requirements, the powers of the Pensions
Ombudsman, and provisions in relation to
cross-border schemes which implement the EU
Directive on the supervision of Institutions for
Occupational Retirement Provision, known as the
IORPs Directive.
During 2006, officials from the Department
participated in the EU working group on the draft
pension directive of the European Parliament
and Council on improving the portability of
supplementary pension rights, discussions on
which are still ongoing.
goal 1: retired and older people
a) The Social Welfare Law Reform
and Pensions Act 2006 provided
for a number of amendments
to the Pensions Act 1990
in relation to occupational
pensions.
Amendments to the Pensions Act included the
provision for an alternative to the prosecution of
an offence under the Act by providing for an onthe-spot
fine regime. In addition, the Act provided
the Minister with powers to make Regulations
so that trustees of a defined contribution
scheme must prepare a Statement of Reasonable
Projection at specified intervals, in accordance
with guidance issued by the Society of Actuaries
of Ireland. The Act provided that trustees of a
b) Social Welfare Act 2006
The Social Welfare Act provides for the Budget
increases in the rates of social insurance and
social assistance payments and improvements
in Family Income Supplement, Maternity and
Adoptive Benefit, Death Benefit Funeral Expenses
Grant, Bereavement Grant, Widowed Parent Grant,
State Pension (Non-Contributory) and Disability
Allowance schemes.
It also provides for raising the weekly earnings
limit at which PRSI becomes payable, an
increase in the income ceiling above which
PRSI contributions are not payable by employed
or optional contributors, as announced in the
Budget, in addition to changes to the Health
Contributions Act 1979 to provide for an increase
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