IORP II Directive
The second EU Directive on the activities and supervision of pension schemes, the IORP II Directive, was transposed into Irish law through the following legislation:
- The European Union (Occupational Pension Schemes) Regulations, 2021, most of which amended the Pensions Act (the consolidated version of the Pensions Act can be viewed here).
- Several amendment regulations made under the Pensions Act, a brief overview of which can be found here.
The transposing legislation above introduced significant additional obligations for pension scheme trustees. The Pensions Authority recognises that trustees and their advisers need to fully understand these obligations, and the expectations of the Authority in relation to supervising compliance with these obligations. To this end, the Authority publishes information and guidance related to the IORP II Directive, links to which can be found under the headings below.
General information
|
Date of issue |
Title of news alert |
| 6 December 2023 | Information on the Pensions Authority’s supervisory review process (SRP) |
|
13 May 2021 | |
|
28 April 2021 |
Code of Practice
|
Date of issue |
Title of news alert |
|
18 November 2021 |
Risk management
| Date of issue | Title of news alert |
| 11 October 2023 | Own-risk assessment guidance for trustees |
| 11 November 2021 | Information on own-risk assessment timing and 2021 annual compliance statement* |
Outsourcing
|
Date of issue |
Title of news alert |
|
27 September 2022 |
|
|
1 December 2021 |
Pensions Authority publishes instructions on trustee outsourcing notification obligations |
|
15 October 2021 |
Pensions Authority publishes information on outsourcing notification |
Updates to disclosure of information legislation and other updates
|
Date of issue |
Title of news alert |
|
7 June 2023 |
|
|
6 October 2022 |
Information in relation to group schemes transferring to a master trust or PRSAs |
|
14 July 2022 |
|
|
4 July 2022 |
Amendments to the Trust RACs (Disclosure of Information) Regulations 2007 |
|
4 July 2022 |
Amendments to the Occupational Pension Schemes (Disclosure of Information) Regulations 2006 |
|
26 January 2022 |
Amendments to the Trust RACs (Disclosure of Information) Regulations 2007 |
|
2 December 2021 |
Amendment to various regulations under the Pensions Act, 1990 |
Pension benefit statement
|
Date of issue |
Title of news alert |
|
10 March 2023 |
|
|
28 July 2022 |
|
|
18 May 2022 |
Annual compliance statement
|
Date of issue |
Title of news alert |
|
23 December 2022 |
|
|
18 May 2022 |
|
|
11 November 2021 |
Information on own-risk assessment timing and 2021 annual compliance statement* |
|
2 September 2021 |
Pensions Authority publishes information on the annual compliance statement |
One-member arrangements
|
Date of issue |
Title of news alert |
|
11 May 2023 |
|
|
29 September 2022 |
Information on one-member arrangement (OMA) transfers to master trusts* |
|
23 June 2022 |
|
|
16 November 2021 |
Pensions Authority publishes FAQs on investment and borrowing for one-member arrangements |
Master trusts
|
Date of issue |
Title of news alert |
|
29 September 2022 |
Information on one-member arrangement (OMA) transfers to master trusts* |
|
2 June 2022 |
Pensions Authority publishes an information update for master trusts |
|
16 December 2021 |
Pensions Authority publishes an employer guide to defined contribution master trusts |
Compliance deadlines
|
Date of issue |
Title of news alert |
|
26 July 2023 |
Reminder to employers to take action ahead of 31 December 2023 deadline for pension schemes |
|
3 November 2022 |
Information for group pension schemes on 1 January 2023 compliance deadline |
|
28 October 2022 |
Reminder to employers of 1 January 2023 compliance deadline for pension schemes |
|
23 June 2022 |
|
|
18 May 2022 |
*News alerts marked with an asterix appear under more than one heading as appropriate.