Country Report Member State of EU Population 3.6m GDP€ 66bn Growth 19999% Unemployment 5% Inflation 4%

Country Report April 2000 Second & Third Pillars First Pillar Structure of System Flat rate pension Payable from age 65 Currently 30% of Average Industrial Earnings Partly funded from 2000 (1% of GNP) Public service + occupational + self employed Mainly DB but trend to DC Coverage 52% of working population

Country Report April 2000 Legal and Regulatory Framework Fiscal Tax rElief - contributions Tax Exempt - assets Taxed benefits Regulated by limits on benefits Pensions Act 1990 Duties of trustees Member representation Gender equality Minimum funding standard DB Member information Early leaver benefits

Country Report April 2000 Statistics Membership (000s)Investment (total €49bn)

Country Report April 2000 Irish Association of Pension Funds Mission To represent interests scheme members, trustees and employers To promote financial security of all retired people To provide a forum for pensions debate Activities Recognition as voice of Irish pensions Seminars, conferences, etc High quality publications Surveys and research

Country Report April 2000 Current Issues NPPI Retain EET Introduce PRSA (DC structure) Universal access Simplified operation Increased public awareness by June 2000 Retirement Options Tax free lump sum plus Balance of fund used to buy annuity Balance paid immediately in cash form Balance paid into Approved Retirement Fund