IORP II is Transposed
In a Press Release issued yesterday the Minister for Social Protection, Heather Humphreys T.D., announced that she has signed the ‘European Union (Occupational Pension Schemes) Regulations 2021’ which finally transposes the IORP II Directive into Irish law. The Regulations provide a derogation for one-member arrangements so that only the provisions on investment and borrowing will apply to those. All the provisions will apply to all other arrangements. The Regulations run to 73 pages and we also expect guidance to be issued by the Pensions Authority on the application of the Regulations. We will examine the Regulations in detail over the coming days and will consider their practical impact.
You can view the Department’s Press Release here. Here is a link to the Regulations.
DC Conference Week
Bookings are now open for the 2021 IAPF DC Conference Week. Topics include:
- How A Focus On Broader Financial Wellbeing Benefits Member Retirement Planning
- Using Pensions to Create a Better World
- Use of Alternatives in DC Investment
- Regulatory Update
- Opportunities in Credit
- Master Trusts – A Trustee Perspective
Book here.
Irish Pensions magazine - Summer 2021
Some space is available in the upcoming edition of Irish Pensions magazine. Email us for further information.