Occupational pension schemes are facing a 66.66 per cent increase in fees they must pay to the Pensions Board, following an announcement from the Minister for Social, Community and Family Affairs, Mr Ahern.

The Irish Association of Pension Funds (IAPF) said it had been told that the Minister would sanction the increase in the fee scale. The fees for a scheme with 200 members would rise to £1,000 from £600, while those with 3,000 members would increase to £7,500 from £4,500.

IAPF has sought clarification for the reasons underlying the increase and has asked for confirmation of the Pension Board's intention not to seek any further increases for a number of years.