Pensions and financial services ombudsmen
Deputy Murphy asked when legislation amalgamating the two ombudsman offices would come forward and why it was being done. Deputy Donohoe said the merger would combine expertise for better consumer confidence and that the Bill would be before the House during the session.
The Government announced some time ago the amalgamation of the offices of the Pensions Ombudsman and the Financial Services Ombudsman. When can we expect that legislation to come before the House? As a matter of interest, why did the Government decide to amalgamate those two bodies, considering the onerous tasks facing the Financial Services Ombudsman in particular?
Comment on this
The rationale for the amalgamation is that the Government believes that there is expertise residing in both organisations that could be more effectively used to deal with issues, particularly with regard to consumer confidence, if both organisations are brought together. Regarding the timing, I understand that the Bill will be before the House during this session.