IRELAND – The Irish Association of Pension Funds has signalled that the directive on occupational pension funds is a “major opportunity” for Ireland.

"The new directive which comes into force in September means that multinational employers could chose to move their pension funds to Ireland provided we can offer the right environment and the necessary expertise," said new IAPF chairman Joe Byrne.

The comments follow the government’s stating its commitment to positioning itself as the domicile of choice for pan-European pension schemes after the directive is implemented.

Byrne, group actuary at Coyle Hamilton Willis, has been elected chairman of the association, to replace Gerry Ryan after his two-year term expired.

Byrne said: "IAPF will be actively involved in the National Pensions Review over the coming months and the practical implications of the EU Pensions Directive which will come into law at the end of September. Increasing pensions coverage and adequacy remain issues of major concern."