The Pensions Authority would like to place cookies on your computer to help us make this website better. To find out more about the cookies, see our Cookie Policy.

I accept cookies from this site You must tick the 'I accept cookies from this site' box to accept.

In order to personalise your content you must select all three options


Scheme funding and restructuring

Pension schemes in the private and commercial semi-state sectors are generally funded schemes, meaning that a fund of investments is built up to support the liabilities.

Depending on the type of pension arrangement you have, different requirements are in place to protect the assets and monitor the level of funding relative to the pension benefits that are due to be paid out.

Funded defined benefit schemes in particular can be subject to amendment if the scheme assets fall short.

DC schemes, personal pensions and PRSAs

Defined contribution pension schemes are set up under trust and the trustees are responsible for safe-guarding the assets...

Unfunded schemes

Some pension schemes are unfunded...

DB scheme funding

In funded DB schemes, employees and employers usually pay regular monthly payments into a pension scheme and the money gathered is set aside in the scheme's trust fund...

DB funding standard

The Pensions Authority monitors the financial strength of funded defined benefit pension schemes through the operation of the Funding Standard requirements under the Pensions Act...

DB funding proposals

If a funded defined benefit scheme would not meet its Funding Standard liabilities and additional risk reserve on wind-up the trustees must submit a funding proposal to the Pensions Authority...

Pension scheme amendments

In most cases, the terms of a pension scheme may be amended...

Section 50 amendments

In a funded defined benefit scheme, if the funding of the scheme is not sufficient to satisfy the Funding Standard...

Scheme wind-ups

A funded pension scheme may be wound up if the employer (1) goes into liquidation...

Surplus or deficits on wind-up of a DB scheme

If there are surplus assets remaining in a funded DB pension scheme in wind-up once the trustees have paid all benefits and liabilities of a scheme...

Impact of mergers/acquisitions on pension schemes

Mergers and acquisitions are a regular feature of business life...

Personalise now and find out more...

There is more information that you could learn about planning for retirement in relation to your specific situation.

But first you'll have to tell us more about yourself.