373 Mr. Stanton asked the Minister for Social and Family Affairs if he has satisfied himself with the present arrangements for the supervision of occupational pension schemes and analogous private pension schemes in view to the fact that the cost to the Exchequer in tax and PRSI foregone on pensions contributions is in excess of €3 billion per annum, the high levels of fees imposed by the industry, the appearance of potential conflicts of interest in the way that employees are steered into arrangements selected by employers, the failure of many pension funds to match the returns achieved by the stock markets generally, and the fact that hundreds of thousands of people are investing in pensions now at a time of relative economic prosperity but will be drawing their pension benefits at a time when the demographic situation will be vastly different leading to a significant possibility that the marginal tax rates they will face then could be significantly above the marginal rates of tax they face at present leading to increasing numbers investing in property outside Ireland as a hedge against the risks involved; and if he will make a statement on the matter. [42694/06]

Summary

373 Mr. Stanton asked the Minister for Social and Family Affairs if he has satisfied himself with the present arrangements for the supervision of occupational pension schemes and analogous private pension schemes in view to the fact that the cost to the Exchequer in tax and PRSI foregone on pensions contributions is in excess of €3 billion per annum, the high levels of fees imposed by the industry, the appearance of potential conflicts of interest in the way that employees are steered into arrangements selected by employers, the failure of many pension funds to match the returns achieved by the stock markets generally, and the fact that hundreds of thousands of people are investing in pensions now at a time of relative economic prosperity but will be drawing their pension benefits at a time when the demographic situation will be vastly different leading to a significant possibility that the marginal tax rates they will face then could be significantly above the marginal rates of tax they face at present leading to increasing numbers investing in property outside Ireland as a hedge against the risks involved; and if he will make a statement on the matter. [42694/06]

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• Pension Provisions.

  xml · EN · 12 December 2006

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