Supervision and enforcement
The Pensions Authority (the Authority) monitors and supervises compliance with the requirements of the Pensions Act, 1990, as amended, by trustees of occupational pension schemes, personal retirement savings accounts (PRSA) providers, registered administrators and employers.
The Authority applies a forward-looking, risk-based approach to its supervision. It undertakes proactive supervisory work by conducting investigations, on and off-site inspections, engagement meetings, thematic reviews and desk-based audits. In addition, the Authority supervises reactively in response to specific events and/or whistle-blow reports and initiates enforcement action where appropriate. The Authority is also responsible for processing regulatory applications and submissions from pensions scheme trustees, registered administrators and PRSA providers.