The Minister for Social Protection, Éamon Ó Cuív attended the first meeting of the Pensions Board which was appointed after the term of office of the previous Board ended in December 2010. The Board takes up office for a 5 year period.

The Pensions Board is responsible for the monitoring and supervising of the occupational pensions industry, the operation of the Pensions Act and pension developments generally. It provides information and guidance to trustees of pension schemes and it also advises the Minister. Minister Ó Cuív stated that the board represents a balance of interests between those working in the pensions industry and members of society with a common purpose, which is to ensure that the individual pension rights of members will continue to be safeguarded.

Minister Ó Cuív said: “One of the immediate challenges for the Board will be dealing with the security of occupational pension schemes, many of which have funding problems because of the difficult economic conditions. I recently announced the Government’s intentions to introduce sovereign annuities which will assist defined benefit pension schemes by providing greater opportunities for Irish pension schemes to invest, not just in Irish bonds but in Ireland. Work is also underway on proposals for a restructured defined benefit model, as outlined in the National Pensions Framework, which is the Government’s plan for sustainable pension provision in Ireland for the years ahead.”

The New Board is as follows:

  • Ms. Jane Williams (Chairperson)* – The Sia Group
  • Ms. Rosalind Briggs – Mercer Human Resources Consulting
  • Ms. Noreen Deegan – Friends First
  • Mr. Kevin Finucane – Willis Ireland
  • Mr. Brendan Johnston – Zurich Life Assurance plc
  • Ms. Patricia Murphy – Department of Social Protection
  • Mr. Terence Noone – DHKN Chartered Accountants
  • Prof. John McHale – National University of Ireland
  • Ms. Emer O Flanagan** – O’Driscoll O’Neill Ltd
  • Mr. Don O’Higgins – IBEC
  • Mr. Phelim O Reilly – Attain Consulting Ltd
  • Mr. David Owens** – Department of Finance
  • Ms Rachael Ryan – SIPTU
  • Ms. Mary Walsh – Chartered Accountant
  • Mr. Niall Walsh**- Deloitte
  • Mr. Robin Webster – Age Action Ireland

*Re-appointment as Chair

** Re-appointment as ordinary members