There are statutory provisions, known as 'whistle-blowing', which place a legal requirement on a range of specified persons involved in the operation of occupational pension schemes, PRSAs and trust RACs to report suspected fraud or material misappropriation to the Pensions Authority. There is also provision to make a voluntary report on any matter concerning the state and conduct of a scheme, PRSA or a trust RAC.
Specified persons in the Pensions Act, 1990, include:
- insurance intermediaries
- PRSA providers
- investment advisers
- any other person who has been involved in assisting the trustees of a scheme.
The provisions also contain legal protection for the persons making such reports.
Whistle-blow reports, and other serious complaints or allegations are investigated by the Pensions Authority. The Authority commences all investigations from a position of trying to secure compliance without recourse to legal action, but it remains committed, where necessary, to using its full powers under the Pensions Act, 1990.
The majority of whistle-blow reports to the Authority relate to alleged breaches of the remittance of contributions requirements. There is a standard report form to assist in making a report in relation to suspected non-remittance/non-payment of contributions which can be accessed below.