The Minister for Social Protection announced at the end of 2012 that her Department was finalising a review of section 48 of the Pensions Act which deals with the priority of distribution from a pension scheme on wind up. The objective of the review was to determine to what extent, if any, the provisions of section 48 might be revised to provide for a different, more equitable approach to the distribution of assets in the wind up of an underfunded scheme. The Social Welfare and Pensions Bill, 2013 is expected later this Spring.