The Minister for Social, Community and Family Affairs, Mr Ahern, has reaffirmed his support for the recommendations of the National Pensions Policy Initiative (NPPI) and the partnership approach to pension policy.

At the publication of the Pension Board's 1998 annual report yesterday, Mr Ahern praised the consultative process between the Govern ment, the social partners, pensioners and pension industry groups which led to the development of the initiative.

Three NPPI working party groups are using this process in the development of a framework for Personal Retirement Savings Accounts (PRSAs), taxation and prefunding issues, he said. PRSAs are portable investment accounts designed for the self-employed and those in non-pensionable employment. The PRSA Group recently issued a consultation document to potential PRSA providers to obtain their responses on the framework's development.

"I see this phase of the process as crucial as it is pointless legislating for a PRSA framework if, firstly, providers do not materialise and, secondly, the providers do not provide products for those groups which currently have little or no occupational pensions cover," Mr Ahern said.

Effective and accessible information was a vital area for the development of the pensions systems. "The right to know and make informed judgment is crucial in underpinning our fundamental civic and social rights," he said.

The Minister welcomed the board's review of its regulatory role and the possible introduction of new forms of compliance monitoring, sanctions and enhanced liaison with other regulators.