Thursday, March 06 15:10:18
The Minister for Social Protection, Joan Burton, has today announced key appointments to the Pensions Authority and Pensions Council.
The new bodies are intended to strengthen governance of occupational pensions and give consumers greater input into pensions policy.
Ms Jane Williams, the current chair of the Pensions Board, will chair the newly formed Pensions Authority.
Mr Jim Murray, former Director of the European Consumers Organisation (BEUC), will chair the Pensions Council.
Under the strengthened arrangements, the Pensions Board is being renamed the Pensions Authority to better reflect its key role of safeguarding the pensions of occupational pension scheme members and also the provision of information on occupational pensions.
Oversight of the Pensions Authority will be provided by a separate three-person board, comprising: Ms Williams as Authority chair; Dr Orlaigh Quinn, Assistant Secretary in the Department of Social Protection, who will represent Minister Burton; and Ms Ann Nolan, Second Secretary in the Department of Finance, who will represent Finance Minister Michael Noonan. The separate unpaid Pensions Council is being created to operate as a pensions advisory panel and report to the Minister for Social Protection on matters of pensions policy. Mr Murray will chair the Council, and members will be recruited though the Public Appointments Service.
Minister Burton said: "I am pleased to announce that Jane Williams, the current chair of the Pensions Board, will now chair the Pensions Authority. Jane, who has been an excellent chair, will bring an assured hand to the Authority. I am also happy to announce that Jim Murray will be the chair of the Pensions Council. As a former Director of the European Consumers Organisation, Jim has a strong background in championing consumer interests."