S.I. No. 103 of 2014


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S.I. No. 103 of 2014

 

Social Welfare and Pensions (Miscellaneous Provisions) Act 2013 (Sections 22(b), 26, 27, 28, 29 and 34) (Commencement) Order 2014 (S.I. No. 103 of 2014)

 

EXPLANATORY NOTE

 

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

 

This order provides for the commencement of section 22(b), sections 26 to 29 and section 34 of the Social Welfare and Pensions (Miscellaneous Provisions) Act 2013. These amendments to the Pensions Act 1990 provide for the establishment of the Pension Authority and the Pensions Council.

Section 22(b) inserts a definition of the Pensions Council provided for in the new section 26B of the Pensions Act.

Section 26 inserts a new section 9A in the Pensions Act to provide for a change in the name of the Pensions Board to the Pensions Authority and to provide for a change in the name of the chief executive of the Pensions Board to become the Pensions Regulator.

Section 27 amends section 15 of the Pensions Act to provide that the Pensions Regulator shall be a member of the Pensions Council

Section 28 amends section 24 of the Pensions Act to prohibit members of the Pensions Council from disclosing information which they have obtained in the course of their duties.

 

Section 29 inserts a new section 26B in the Pensions Act 1990 to establish a new unincorporated body called the Pensions Council. The functions of the Pensions Council will be to advise the Minister for Employment Affairs and Social Protection on pension matters on request or on its own initiative. The chairman and members of the Pensions Council will be unpaid and will be appointed by the Minister. This section also provides for the resignation and disqualification of members of the Pensions Council.

Section 34 amends the First Schedule to the Pensions Act 1990 to change the composition of the Pensions Board, following its replacement by the Pensions Authority. The Pensions Authority will consist of a chairman appointed by the Minister for Employment Affairs and Social Protection and two ordinary members (reduced from 16 ordinary members under the Pensions Board). The 2 ordinary members will consist of a nominee of the Minister for Employment Affairs and Social Protection and a nominee of the Minister for Finance.

Last modified:27/02/2017