Latest news and analysis of pensions, asset management, regulation and trends in Ireland from our award-winning journalists.
For many schemes, trustees and sponsoring employers have decided that ‘it is not practical or economic to make their scheme compliant’ with IORP II
Irish government aims to launch auto-enrolment retirement system in 2024
’Employers are preparing for big reforms around pensions, with the expected arrival of auto-enrolment early next year’
Ireland is preparing an Auto Enrolment Bill, which will kick-start the process of defined contribution pension reform in earnest, some 15 years after the concept was first mooted. The plan is for a Central Processing Authority to administer the system and for up to four providers to tender for a chance to manage member contributions.
There will be a separate tender for investment services later in the year
EIOPA and the European Commission are supporting the Authority in the implementation of forward-looking risk-based supervision in Ireland
Ireland is preparing an Auto Enrolment Bill, which will kick-start the process of defined contribution pension reform in earnest, some 15 years after the concept was first mooted. The plan is for a Central Processing Authority to administer the system and for up to four providers to tender for a chance to manage member contributions.
Pensions may lose out if boards do not have a full grasp of the risks facing schemes
Fifteen years after auto-enrolment was first mooted for Ireland, the automatic savings programme is nearly ready to be rolled out
Reform of the Irish pensions system is in motion but much more needs to be done
Pensions Authority CEO Brendan Kennedy is not overly concerned about DB schemes’ LDI position, but feels the regulator needs more information. He speaks to Gail Moss about this and other issues facing the Irish industry
While there are no immediate concerns, liability-matching assets fell significantly last year following rising euro yields
Heading into 2023, the largest schemes are in funding surplus for the first time
The regulator wants to know that, where schemes decide to implement an LDI strategy, trustees are making informed decisions
Transposing IORP II Directive into Irish pensions legislation is to set out clearly the higher standards of management and governance expected of trustees
Ireland’s pensions trade body warns that many smaller schemes will be unable to meet the requirements of IORP II, accelerating the move to master trusts
Authority has issued individual letters to master trusts and expects trustee boards and advisers to consider findings and evaluate own practices
LifeSight has also partnered with an engagement overlay provider to deliver additional stewardship services
Supervisor notes latest figures don’t include impact of recent bond yields and stockmarket losses
Pensions Authority sets out strategy statement for 2022-2024
Ireland’s new trustee code is bedding in following its publication last autumn. The code aligns Ireland with IORP II, with rules on governance, administration, controls, DB management and ‘fit and proper’ requirements.
Ireland’s Pensions Authority published its revised code of practice for occupational pension scheme trustees last November, to a lukewarm reception. After a lukewarm response, trustees are getting to grips with what is required of them
An update on the accounting deficits in Irish DB pension schemes
Reform of the Irish pensions system is in motion with policies set out last year