IORP II Consultation
The IAPF was asked to respond to a consultation paper from the Pensions Authority on the implementation of the provisions of the IORP II Directive regarding Key Function Holders. A copy of our response can be found on our website’s Submissions page here.
IAPF Yearbook 2018
Member companies and schemes have been receiving their printed Yearbooks this month. Today it was also released online. Click ‘Forgot your password?’ If you have issues opening it.
Social Welfare, Pensions & Civil Registration Bill
The original draft of this Bill contained provisions that would allow the Pensions Authority impose a schedule of contributions where an employer proposes to cease contributions to a DB scheme. The Social Welfare Bill was passed without those provisions and we understand that they will be reintroduced in a separate Bill over the coming weeks.
Trustee Guidance on Member Option Exercises
Enhanced Transfer Values (ETVs)? Pension Increase Exchange (PIE)? Retirement Transfer Option (RTO)? In light of an increasing trend in the number of member option exercises being initiated and run by sponsoring employers of Irish defined benefit schemes, the IAPF has considered it appropriate to release a voluntary guidance document for Trustees, outlining the key principles that should be considered if such an exercise is to be implemented in their scheme. Compare the Key Trustee considerations in our guidance paper, available here on the Trustee Support page of our website.
Revenue
Revenue have made three changes to The Pensions Manual, as per their eBrief.
Read the full User Manual here.
Success in Europe!
Congratulations to IAPF Member Scheme ESB Pensions, on their recent win at the IPE Conference & Awards 2017 in Prague, Czech Republic. They scooped the top award for Ireland for RetireSmart, the ESB Defined Contribution Pension Scheme.
Pensions Authority
The Pensions Authority is currently recruiting for an Executive Officer – Finance and Assistant Principal Officer Compliance. See here.