IBEC, the Irish Business and Em-ployers Confederation has launched Ireland's first umbrella industry pension scheme to offer pensions to hundreds of thousands of employees. The scheme, geared towards small and mid size employers in Ireland, will allow workers four possible methods of investing self-determined contribution levels. Irish Life will manage two funds; a consensus plan and a secured performance plan, and Bank of Ireland and Ulster bank will both offer actively managed funds. Irish Life will also administer the scheme, with consultancy provided by Mercer Irish Pensions Trust.