Question 1

What does the Pensions (Amendment) (No. 3) Bill 2017 do?

Accepted Answer

Amends Pensions Act 1990 to make solvent employers liable for pension scheme funding deficits when winding up defined benefit schemes, treating unpaid amounts as contractual debt to scheme trustees. Prevents employers from removing pension liabilities from their financial accounts without fully funding scheme deficits, closing a loophole allowing companies to avoid obligations. Applies to defined benefit schemes operating before the Act commences; does not affect other legal remedies available to pension trustees for scheme shortfalls.

Question 2

What stage is the Pensions (Amendment) (No. 3) Bill 2017 at?

Accepted Answer

As of 13 Feb 2020, the Pensions (Amendment) (No. 3) Bill 2017 is at Second Stage in 32nd Dáil. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Pensions (Amendment) (No. 3) Bill 2017?

Accepted Answer

The Pensions (Amendment) (No. 3) Bill 2017 was sponsored by Willie Penrose, and was introduced on 7 Feb 2017.

Pensions (Amendment) (No. 3) Bill 2017

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