The Pensions Authority issues Guidance on section 48A of the Pensions Act 1990 (as amended)
Monday, 11 April 2016: Today, the Pensions Authority issued guidance on Section 48A of the Pensions Act which provides for the payment of certain amounts by the Minister for Finance to the trustees of a scheme, in circumstances where the resources of the scheme are not sufficient to discharge liabilities in relation to certain benefits. In order to be eligible to apply for a payment under section 48A, the scheme must have wound up after 25 December 2013 and at this date the employer is also insolvent (usually referred to as double insolvency). Further details are contained under the Statutory Guidance section of the Authority’s website, available here.
The Authority’s Guidance should be read in conjunction with the Guidelines issued by the Department of Social Protection which can be found here.
For further information, contact:
Head of Operations and Communications
The Pensions Authority
Tel: (01) 613 1900
Note to Editors
The Pensions Authority is the statutory body established by the Pensions Act, 1990 to regulate occupational pension schemes, trust based RACs and Personal Retirement Savings Accounts (PRSAs).