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Dáil
‹ Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation

Small pension scheme rules

Summary

Deputy Richmond asked the Government to change PRSI pension rules so schemes with fewer than 100 members could operate again. The Taoiseach said he would discuss it with the Social Protection Minister and revert to the Deputy.

Will the Government consider changes to the PRSI pension system to allow for pension schemes with fewer than 100 members? This is, unfortunately, no longer allowed and we now have a situation in which business owners who could previously use these one-member systems to focus on their pensions late in their career can no longer do so and the pension providers offering to sell them are now being threatened with lawsuits by the Pensions Authority. This issue needs to be sorted as quickly as possible for the business community, particularly small business owners.

Comment on this

I will engage with the Minister for Social Protection, Deputy Humphreys, in relation to that and revert to the Deputy. He raised a reasonable point.

Comment on this