Invitation to Make a Submission to IDPRTG Public Consultation

As provided for in the Roadmap for Pensions Reform 2018 – 2023, the Interdepartmental Pensions Reform and Taxation Group (IDPRTG)[1] is undertaking a review of a number of pensions policy matters to inform Government policy in these areas. Interested parties are invited to make submissions by 5pm Friday 19 October 2018.

The Roadmap for Pensions Reform 2018 – 2023, which was published by Government on 28 February 2018, is a very significant reform document with material implications for stakeholders. The Roadmap sets out actions under six strands and the IDPRTG has been assigned a number of those tasks, mainly within Strand 3. In order to inform its work the IDPRTG is providing an opportunity for individuals and stakeholders to input to the process.

This consultation process focuses on three separate pension areas within the Roadmap and can be identified by the action numbers allocated to them:

• Actions 3.11, 3.12 and 6.6 (Section A) identifying measures to simplify pensions, tackle inconsistencies within the supplementary pensions system, and reduce the current number of pension savings vehicles;
• Action 3.13 (Section B) reviewing the cost of supplementary pension to the Exchequer; and
• Action 3.14 (Section C) undertaking a broad review of the utilisation of the ARF option.

Each section of the Consultation Paper provides a brief overview of the specific pension issue and is followed by a number of questions. The Consultation Paper sets out details of the consultation process itself, how to make a submission, and Freedom of Information requirements and can be accessed below.

Please note: The Consultation Paper has been drafted for consultation purposes only. It is intended to elicit views from stakeholders on a range of issues and is in no way indicative of policy direction. No decisions have been made in relation to any aspect addressed in the Consultation Paper. The Group expects to report on the actions addressed therein by year end.

The consultation process is open until 5pm on 19 October 2018. Any submission received after this date may not be considered.

ENDS

[1] The IDPRTG consists of representatives from the Department of Employment Affairs and Social Protection, Department of Public Expenditure and Reform, Revenue Commissioners, Pensions Authority and the Department of Finance.