Pensions (Amendment) Bill 2013

Public bill · Private Member · Introduced

The proposal would change how money is divided when a defined-benefit pension scheme closes, giving priority to members’ pension benefits and additional voluntary contributions before other benefits are paid. It would cap protected benefits at €30,000 a year, with half of any excess also protected, and would prevent a solvent employer from closing a scheme unless it was at least 90% funded.

Formal long title

Bill entitled an Act to amend the Pensions Act 1990 to change the current rules for the distribution of assets in the winding up of defined benefit pension schemes and to provide for related matters

Last updated 12 April 2018