IPE's Ireland Coverage – Page 22
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News
Irish public sector turns to career average scheme
[14:00 CET 10-12] IRELAND – A new career average pension scheme is being introduced for new entrants to the public sector workforce from next year, in an effort to cut the government pay and pensions bill.
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News
DB deficits at Irish firms hit €5.4bn
[13:30 CET 03-12] IRELAND – The combined defined benefit (DB) pension deficits of Irish quoted companies increased by almost 15% between January and October to €5.4bn, according to research by Attain Consulting.
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News
Irish schemes get breathing space on DB benefit cut rules
[16:40 CET 27-11] IRELAND – The Pensions Board has extended until June next year the deadline for schemes filing a funding proposal related to DB benefit reduction. But the Irish Business and Employers Confederation (IBEC) claimed the guidance is still too strict.
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News
Irish pensions framework to have lead-in time
[16:50 CET 26-11] IRELAND – Mary Hanafin, minister of social and family affairs, has admitted the National Pensions Framework being developed by the government will not be introduced immediately, in order to minimise pressure on the pension industry.
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News
Irish managed funds drop 2.5%
[16:35 CET 05-11] IRELAND – Irish managed funds produced their first negative performance for eight months and an average return of -2.5% in October, according to figures from Rubicon Investment Consulting.
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News
Poor governance hit Irish pensions funding - experts
[16:45 CET 02-11] IRELAND - Pensions experts have claimed that a lack of focus on governance strategy had as much to do with the recent lower funding levels of Irish pension schemes as investment strategy.
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News
Clearer accounting needed in Irish public sector pensions
[15:00 CEST 23-10] IRELAND – Accounting arrangements used for the disclosure of public sector pensions are an "inadequate basis" for reporting pension costs, according to a report by the Irish Comptroller and Auditor General (C&AG).
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News
Irish public sector pensions face Budget cuts
[17:00 CEST 21-10] IRELAND – Brian Cowen, Ireland's premier, has warned public sector pay and pensions could see fresh cuts in the December Budget, in the government's bid to stabilise the country's deficit and make €4bn of savings.
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News
Aer Lingus eyes DC scheme to avoid major balance sheet damage
[16:55 CEST 10-12] IRELAND – Aer Lingus is proposing to introduce a new defined contribution scheme for all staff in an attempt to avoid having to change its accounting practices to defined benefit (DB) rules that would add "significant" liabilities to its balance sheet.
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News
NPRF pulls back on 2008 losses
[17:00 CEST 08-10] IRELAND – The Irish National Pension Reserve Fund has significantly pulled back its investment returns since the beginning of the year and delivered a total positive gain of 8.9% under its new asset allocation structure.
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News
Kenny targets 'unacceptable' directors with MoU
[15:30 CEST 08-10] IRELAND – Paul Kenny, the Pensions Ombudsman has signed a Memorandum of Understanding with the Office of the Director of Corporate Enforcement (ODCE) to allow him to pass on details of “unacceptable behaviour by company directors” - a move bringing closer cooperation against rogue employers.
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NewsCommission on Retirement must halt pension delays - IAPF
[15:00 CEST 08-10] IRELAND – The Irish Association of Pension Funds has called on the government to establish a Commission on Retirement to update the assumptions underlying Ireland's two-year old Green Paper on Pensions, following the recent changes in the economic environment.
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NewsIrish managed funds gain 27.5% in seven months
[17:05 CEST 05-10] IRELAND – The performance of Irish managed pension funds improved for the seventh month in a row as they returned an average 2.6% in September, according to figures from Rubicon Investment Consulting.
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News
Three in four Irish workers expect retirement delay
[16:00 CEST 25-09] IRELAND/UK – The financial crisis is causing workers to think about delaying retirement, with almost three-quarters of Irish employees claiming they cannot afford to retire, research from Peninsula Ireland has revealed.
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News
Pensions Ombudsman maintains legal pressure on employers
[16:40 CEST 16-09] IRELAND – The Pensions Ombudsman is continuing to place pressure on employers to co-operate with its investigations and comply with pensions obligation, after attaining the successful prosecution of another employer in the construction industry.
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News
Irish public sector pensions hit €108bn
[17:00 CEST 11-09] IRELAND – The accrued present value of public sector pension liabilities was estimated at €108bn at the end of December 2008, according to figures from the Comptroller and Auditor General (C&AG).
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News
Pensions Board prosecutes firm over funding certificate
[17:15 CEST 08-09] IRELAND - The Pensions Board has successfully prosecuted an engineering company for failing to submit an actuarial funding certificate for its pension fund within the required time frame.
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News
Irish managed funds return 3% in August
[16:45 CEST 03-09] IRELAND – Irish managed pension funds have produced a positive return for the sixth month in a row, resulting in an average return of 14.5% in the first eight months of 2009.
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FeaturesIreland: Crisis spurs change
Nyree Stewart assesses regulatory changes to Ireland’s pension system
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News
Ulster and RBS salary cap plans ignite unions
[17:15 CEST 26-08] UK – Planned changes by Ulster Bank and its parent company Royal Bank of Scotland to its defined benefit (DB) schemes, such as capping pensionable salary at 2% or the rate of inflation have met with resistance from trade unions.
