Friday 11 February 2005:The Pensions (Amendment) Act, 2002 requires a report on pensions to be completed by September 2006. Mr. Séamus Brennan, TD, Minister for Social and Family Affairs, had decided to bring the timing of this report forward and has asked The Pensions Board to undertake a full review of coverage and associated issues without delay. The Board recognises the importance of the review and welcomes the opportunity of being involved. Work on the review has commenced and a comprehensive progress report will be made to the Minister in June and the full report will be submitted by late summer.
The scope and main components include a review of:
- The National Pensions Policy Initiative’s main strategic recommendations;
- Coverage targets in the National Pensions Policy Initiative Report (1998) (NPPI);
- The current position of supplementary pensions; and
- Options to address coverage and adequacy.