THE Pensions Board took legal, action against 24 companies last year according to its annual report. All 24 schemes had failed to prove they were adequately funded, despite reminders from the board.

The board's new chairman, Mr Eamonn Heffernan, said compliance was achieved in all cases before court action went ahead. Hem added that this was a "successful outcome" for the Pensions Board which regulates 45,000 occupational pension schemes with nearly 500,000 members.

The court action only related to funding requirements after 1991, when the board was set up. Almost 15 per cent of all occupational schemes have yet to secure "adequate funding" for the years, prior to 1991.

He also called for the Government to formally give the Pensions Board an ombudsman role, or give one of the existing ombudsmen responsibility for pensions.

At present the board simply makes sure that trustees carry out their duties. Complaints relating to specific schemes were usually addressed through industrial relations mechanisms, he said. The boards' information services were designed to help members understand their rights under the Pensions Act, he said.

Mr Heffernan also warned the Board would be taking a "more pro-active" approach in monitoring the schemes compliance with the rules.

"We see disclosure to members as a key ingredient in the whole monitoring process and we have taken action in any cases where we have found that the requirements have not been met.

Ms Anne Maher, the recently appointed chief executive, stressed the need for a national pension policy. "There is a growing awareness that the present pension structures are not adequately meeting the new work patterns and social changes which we have seen over the last decade," she said.

Ms Maher added that she is looking forward to the results of" the national pension survey, which would be published by the ESRI in the autumn. The report was commissioned by the Department of Social Welfare and the Pensions Board.

The report is expected to show that a significant number of workers were not covered by any scheme, Mr Heffernan said.

Ms Maher added that the board was almost ready to issue guidance notes on the Family Law Act before the deadline of August 1st.

Provisions on compulsory and voluntary reporting of suspected fraud and misappropriation, known as the "whistle blowing" provisions would also be introduced.

Mr Heffernan said he hoped the provisions might never be needed but said they were there to protect the interests of scheme members.

He also said that by the year 2020 Ireland's demographics would have changed and there would be a growing number of over 65s, putting additional pressure on the current pension system.

Longer term issues which the board would be addressing include protection for members in schemes until normal pensionable age, comparable to the benefits for people leaving early for post 1991 benefits.

The protection of members and the enhanced protection for members of defined contribution schemes may also need statutory protection.