News archive

9 January 2013
Annual scheme fee information 2013
Wednesday 9 January: Annual scheme fees for occupational pension schemes are payable by 31 January 2013 for single member schemes and by 31 March 2013 for group schemes.
26 September 2012
The Pensions Board revises the timeframe for defined benefit schemes to submit funding proposals
Wednesday, 26 September 2012: Today, The Pensions Board revised the timeframe for defined benefit schemes with funding deficits to submit funding proposals to the Board. This follows consideration of representations made to T...
17 July 2012
The Pensions Board publishes FAQs on recent changes to the funding standard
17 July 2012: The Pensions Board has published FAQs on recent changes to the funding standard.
22 June 2012
Minister for Social Protection, Joan Burton T.D. launches The Pensions Board Annual Report 2011
Friday, 22 June 2012: Today, the Minister for Social Protection, Joan Burton T.D., launched The Pensions Board‘s Annual Report and Accounts 2011.
7 June 2012
Pension Board Funding Standard Seminars June 2012
The Pensions Board is hosting a series of pension information seminars to explain recent changes to the funding standard rules for defined benefit pension schemes.
7 June 2012
The Pensions Board publishes funding rules for defined benefit pension schemes
7 June 2012: Today, The Pensions Board published revised rules for defined benefit schemes and announced the deadlines by which trustees must submit funding proposals to the Board to deal with scheme deficits.
1 May 2012
Summary of responses to consultation on simplification of defined contribution pension provision
Tuesday 1 May, 2012: The Pensions Board has published a summary of the responses to the consultation on simplification of defined contribution pension provision.
19 April 2012
The Pensions Board report on inspections of Registered Administrators for 2011
Thursday, 19 April 2012: The Board has completed its 2011 series of on-site inspections of Registered Administrators pursuant to its powers under Section 18 of the Pensions Act, 1990 as amended.
12 April 2012
The Pensions Board publishes updated information booklets
Thursday, 12 April 2012: The Pensions Board has published two updated booklets and a new checklist.
14 February 2012
Trustee training obligations - news update
Tuesday, 14 February 2012: Trustees are required to receive training within six months of their appointment and at least every two years thereafter. Where a person was already a trustee before the 1 February 2010, the tra...
20 January 2012
Sovereign Annuity Regulations now in force
Friday 20 January 2012: The Occupational Pension Schemes (Disclosure of Information) (Amendment) Regulations, 2012 were signed into law by the Minister for Social Protection, Joan Burton T.D on 11 January 2012. The Pension...
19 January 2012
Update on the re-introduction of funding standard obligations for defined benefit pension schemes
19 January 2012: On 28 October 2011, The Pensions Board announced that it expected to publish revised guidelines for defined benefit schemes in deficit and announce new deadlines by which schemes in deficit must submit a reco...
21 December 2011
Annual scheme fees for occupational pension schemes
Wednesday 21 December: Annual scheme fees for occupational pensions schemes are payable by 31 of January for single member schemes and by the 31 March for group schemes.
13 December 2011
Consultation on the simplification of defined contribution pension provision
Tuesday 13 December 2011: The Pensions Board has launched a consultation on the simplification of defined contribution pension provision.
10 November 2011
Submission of defined benefit scheme recovery plans
Following the announcement on 28 October by Joan Burton TD, Minister for Social Protection, on changes to the funding standard for defined benefit schemes, recovery plans submitted to The Pensions Board by 12 noon Friday 16th...
28 October 2011
“The Pensions Board to re-introduce the funding standard obligations for defined benefit pension schemes by year end”
28 October 2011: The Minister for Social Protection, Joan Burton TD, has announced changes to the funding standard for defined benefit schemes. On foot of this announcement The Pensions Board will publish revised guidelines ...
28 October 2011
Note for Information on changes to Defined Benefit Pension Provision
28 October 2011: The Government has approved a number of changes to defined benefit (DB) pension provision to help ensure its sustainability, enhance the security of member benefits and increase equity between members of DB s...
26 October 2011
The Pensions Board sets out certification conditions for Sovereign Annuities
Wednesday 26 October 2011: The Pensions Board today published its certification conditions for sovereign annuities. Legislation facilitating the introduction of sovereign annuities was passed earlier this year, and the Board’...
20 September 2011
The Pensions Board Strategy 2011 – 2015
Tuesday 20 September 2011: The Pensions Board has published its strategy for the period 2011 to 2015.
15 September 2011
Trustee Training Reminder
Thursday, 15 September 2011: The Pensions Board is reminding trustees and employers that the 1st February 2012 triggers the two year legal requirement for trustee training.
5 July 2011
Social Welfare and Pensions Act, 2011 - Information Note
Tuesday 5 July 2011:The Social Welfare and Pensions Act, 2011 was signed into law on 29 June 2011. It makes certain amendments to the Pensions Act, 1990, as amended (“the Act”). It also makes certain changes in relation to th...
20 June 2011
Minister for Social Protection, Joan Burton T.D. launches The Pensions Board Annual Report 2010
Monday, 20 June 2011: Today, the Minister for Social Protection, Joan Burton T.D., launched The Pensions Board‘s Annual Report and Accounts 2010.
31 May 2011
Updated booklet & new checklist about pensions on separation and divorce
31 May 2011: The Pensions Board has updated its booklet on ‘A brief guide to the pension provisions of the Family Law Act’ and published a new checklist about pensions on separation and divorce.
22 March 2011
The Pensions Board online services portal – scheme amendments
Tuesday 22 March 2011: From Monday, 28 March 2011 The Pensions Board will no longer accept manual scheme amendments by PB3 forms, emails or letters. The facility to make such amendments is available through the “Submission” ...
17 February 2011
The Pensions Board report on inspections of Registered Administrators
Thursday 17 February 2011: The Board has completed its first series of on-site inspections of Registered Administrators pursuant to its powers under Section 18 of the Pensions Act, 1990 as amended.
2 February 2011
The Pensions Board opens online services portal
Wednesday 2 February 2011: The Board opens up its online services portal today to allow fee managers to register for the service.
24 January 2011
The Pensions Board to open its online data management system
Monday 24 January 2011: The Board will open its online portal system on Tuesday 1 February 2011 to allow fee managers to register for the service and to pay the annual fees due using the system within the timeframes available...
19 January 2011
Pension scheme trustee obligations under the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010
Wednesday 19 January 2011: Trustees who provide pension scheme trustee services on a commercial basis must obtain an authorisation to do so from the Minister for Justice and Law Reform.
22 December 2010
Minister Ó Cuív appoints new Pensions Board
Wednesday 22 December 2010: Minister for Social Protection, Éamon Ó Cuív TD today announced the appointment of the new Pensions Board which takes up office for a five year period (2010-2015).
8 December 2010
Introduction of Sovereign Annuities / Bonds
Wednesday 08 December 2010: In his budget speech on Tuesday 7 December 2010, the Minister for Finance announced that new bonds which will facilitate a sovereign annuity pensions product will be available for pension schemes f...
24 November 2010
Presentation to the IAPF Trustee Forum
Wednesday 24 November 2010: Presentation to the IAPF Trustee Forum by Brendan Kennedy CEO.
11 November 2010
The Pensions Board reduces occupational pension scheme fees for 2011
Thursday 11 November 2010: The Minister has approved the Board’s recommendation to reduce occupational pension scheme fees by 9.1% on a once off basis for 2011 only. There is no change to PRSA fees.
27 October 2010
News update - The Pensions Board extends its online data management capacity
Wednesday 27 October 2010: The Board is continuing to develop its online services to customers with the implementation of a new data management system. Having pension scheme data submitted electronically will facilitate great...
14 October 2010
News update - Deferral of deadline for DB funding proposals
Thursday 14 October 2010: The Government has announced that work on the defined benefit aspects of the National Pensions Framework is to be brought forward and new legislation will be introduced no later than 1 July 2010.
13 October 2010
“The Pensions Board will extend the timeframe for defined benefit schemes to submit funding proposals”
Wednesday 13 October 2010: The Pensions Board will extend the timeframe for defined benefit schemes dealing with funding deficits to submit funding proposals for approval. The Board will announce shortly the new extended time...
27 September 2010
Occupational Pension Schemes (Investment) (Amendment) Regulations 2010
Monday 27 September 2010: The Occupational Pension Schemes (Investment) (Amendment) Regulations 2010, SI No. 455 of 2010 have been signed into law by the Minister for Social Protection, Éamon Ó Cuív T.D., with effect from 23 ...
19 August 2010
Defined benefit schemes in deficit - deadline for Section 49(3) & Section 50 applications.
Thursday 19 August 2010: As you are aware, following an extension by the Board, the deadlines for defined benefit schemes to file a funding proposal and/or a Section 50 application will start to expire from 30 November 2010 n...
17 August 2010
Inspection of Registered Administrator (“RA”) Services
As part of its risk based approach to supervision and pursuant to its powers under the Pensions Act 1990, as amended (the “Act”), The Pensions Board (the “Board”) will shortly carry out a series of both on and off-site inspe...
22 June 2010
Minister Ó Cuív Launches Pensions Board Annual Report 2009
“Lessons of the past should be applied to the present - investment strategies must focus on the risk as well as the return”
14 April 2010
Five month extension for defined benefit schemes to submit funding proposals to The Pensions Board.
The Pensions Board is further extending by five months the deadline for defined benefit schemes to submit funding proposals and or section 50 applications for approval by the Board.
9 February 2010
Review of 2009 published by The Pensions Board
The Pensions Board today released its Review of 2009 – a fact sheet and commentary giving an overview of the activities for last year. The Board will publish its formal annual report for 2009 later in the year.
20 January 2010
Guidance on Pensions Insolvency Payment Scheme (PIPS)
The Minister for Finance has signed the statutory instrument giving effect to PIPS from 1 February 2010.
14 January 2010
The Pensions Board launches interactive e-learning system for pension scheme trustees
Thursday 14 January 2010: Today, The Pensions Board launched its e-learning system for pension scheme trustees. From 1 February 2010, all pension scheme trustees must undertake training at least every two years. The new e-lea...
17 November 2009
Cross-border schemes: Revised protocol for co-operation between pension supervisors
17 November 2009
Self Investment Limits - Reminder
In Bulletin No. 2 - November 2008, the Pensions Board brought the self investment limits under the IORPs directive to the attention of pension schemes. Article 18 of the IORPs Directive limits the investment by a pension sche...
3 July 2009
Information Note on the Occupational Pension Schemes (Duties of Trustees in Connection with Bulk Transfer) Regulations 2009 (S.I. No. 177 of 2009)
The Occupational Pension Schemes (Duties of Trustees in Connection with Bulk Transfer) Regulations 2009 (“the Regulations”) were signed into law on the 7 May 2009. The Regulations impose various requirements on trustees to gi...
3 July 2009
First report into personal financial education published by national steering group
The Pensions Board welcomes the publication of the first report into personal financial education, entitled 'Improving Financial Capability - a multi-stakeholder approach' by the National Steering Group of Financial Education...
22 June 2009
Minister Hanafin launches Pensions Board Annual Report 2008
Trustees and employers have to focus as a matter of urgency on producing funding proposals that are viable and sustainable over the long term.
25 May 2009
Pension Board Seminars 2009
The Pensions Board is hosting a series of pension information seminars to explain recent changes in pension legislation.
13 May 2009
Timetable for submission of funding proposals
Last September, the Pensions Board granted a six month extension to the deadline for defined benefit schemes to submit funding proposals for approval. For some schemes, this extended period expires at the end of June, 2009.
14 April 2009
Eurostat requirements - duties of registered administrators, trustees of small trust RACs and administrators of public service pension schemes
Regulation (EC) No 2056/2002 of the European Parliament and of the Council of 5 November 2002 amending Council Regulation (EC, Euratom) No 58/97 concerning structural business statistics requires all EU member states to furni...
3 February 2009
Funding Standard
The Board has published revised guidelines to applications for extended funding periods under section 49(3) of the Pensions Act. The Board has also taken steps to streamline the processing of these applications by publishing ...
19 December 2008
Moves to ease pressures on defined benefit pension schemes
Mary Hanafin TD, Minister for Social and Family Affairs today announced further changes to the rules governing defined benefit schemes to enable them to better cope with recent investment losses. As outlined in the attached p...
17 December 2008
Guidance on deferral of annuity purchase
The Minister for Finance, Mr Brian Lenihan TD, announced recently that he is to provide an option for members of defined contribution occupational pension schemes to defer the purchase of a retirement annuity with their pensi...
24 June 2008
MINISTER HANAFIN LAUNCHES PENSIONS BOARD ANNUAL REPORT 2007
Today the Minister for Social and Family Affairs, Ms. Mary Hanafin TD, formally launched The Pensions Board, Annual Report and Accounts 2007.
5 June 2008
Eurostat requirements – duties of registered administrators, trustees of small trust RACs and administrators of public service pension schemes
Regulation (EC) No 2056/2002 of the European Parliament and of the Council of 5 November 2002 amending Council Regulation (EC, Euratom) No 58/97 concerning structural business statistics requires all EU member states to furni...
4 June 2008
Sample forms for Registered Administrators
With effect from 1 November 2008 the trustees of every scheme, including large trust RAC schemes, must appoint a registered administrator to provide various services to the scheme known as “core administration functions”.
22 May 2008
Invitation - The Pensions Board is hosting a number of seminars in relation to “Registered Administrators”.
The Pensions Board is hosting a number of seminars in relation to “Registered Administrators”.
7 May 2008
33% Of Those Working In The Hospitality Sector Do Not Know What Their Major Source Of Income Will Be In Retirement
Wednesday 7 May 2008: 33% of staff working in the hotel and restaurant sector do not know what their main source of income will be in retirement, according to Mr. David Malone, Head of Information Services, The Pensions Board...
5 May 2008
Three Quarters Without A Pension Think The State Pension Is Not Enough
Monday 5 May 2008: Three quarters of those who currently do not have a pension think the state pension would not be sufficient to adequately meet their needs in retirement. However, 40% of these people do not intend to start...
30 April 2008
Pensions Board Calls on Employers and Employees to Engage with Pensions during Pensions in the Workplace Day
Wednesday 30 April 2008: “All employers and employees are being encouraged to discuss pension options in the workplace tomorrow, during Pensions in the Workplace Day.” according to Mr. Brendan Kennedy, Chief Executive of The...
24 April 2008
Top Irish Chef Neven Maguire Fires Up National Pensions Action Campaign 2008
Thursday 24 April 2008: The Pensions Board is to focus strongly on the hospitality, retail and agricultural sectors during the 2008 National Pensions Action Campaign, in order to highlight the importance of good pension provi...
7 April 2008
Briefing note on the Pensions Act amendments included in the Social Welfare and Pensions Act 2008
These briefing notes are prepared on a section by section basis and are best read in conjunction with the Social Welfare and Pensions Act 2008 (the 2008 Act).
2 April 2008
Advertisement for Policy Development Officer
Advertisement for Policy Development Officer including job description
29 February 2008
Your pension is a valuable asset – don’t leave work without it
Speaking at FÁS Opportunities 2008 The Pensions Board today reminded employees, and those soon to be seeking employment, not to forget the importance of a pension.
12 February 2008
Invitation to the Green Paper on Pensions Consultation Seminars
In October 2007, the Government published the Green Paper on Pensions to promote debate on the challenges and options for the future of pensions in Ireland. In order to further this debate, the Department of Social and Family...
8 February 2008
PRSA figures for fourth quarter 2007
Friday 8 February 2008: The Pensions Board today announced fourth quarter data for Personal Retirement Savings Accounts (PRSAs), received from all ten PRSA providers to the end of December 2007.
16 November 2007
Pensions Board urges women to plan for a stress free future
Friday 16 November 2007: The Pensions Board will attend the ‘RTE Off The Rails’ fashion and beauty show at the RDS this weekend (16th – 18th November), where it will highlight the importance for women to start a pension. Pen...
2 November 2007
PRSA figures for third quarter 2007
Friday 2 November 2007: The Pensions Board today announced 3rd quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of September 2007.
17 October 2007
Government launches Green Paper on Pensions
The Department of Social and Family Affairs issued a press release on the Government's launch of a Green Paper on Pensions, on 17 October 2007.
12 October 2007
CEIOPS Conference 2007 - 20 November 2007
12 October 2006: The CEIOPS (Committee of European Insurance and Occupational Pensions Supervisors) Conference 2007, will take place on 20 November 2007, in Frankfurt am Main.
1 October 2007
New Head of Information announced by The Pensions Board
Monday 1 October 2007: David Malone has been appointed as the new Head of Information by the Pensions Board, it was announced today.
28 September 2007
The Pensions Board publishes Hybrid Pension Schemes booklet
Friday 28 September 2007: Today, the Pensions Board launched a Hybrid pension scheme booklet which provides guidance to those involved with pension scheme design to understand the different types of scheme designs available.
24 September 2007
The Pensions Board at Ploughing Championships 2007
Monday 24 September 2007: The Pensions Board will attend the National Ploughing Championships at Annaharvey Farm, Tullamore, Co. Offaly, from Tuesday 25 until Thursday 27 September, to provide pensions information for visitor...
12 September 2007
The Pensions Board publishes on-the-spot fines checklist
Wednesday 12 September 2007: The Pensions Board has today published a Trustee and Employer Checklist in relation to the new on-the-spot fine regime commencing on 17 September 2007. The fine for each offence is €2,000.
31 August 2007
FAQs on Trust Based Retirement Annuity Contracts (RACs)
Friday 31 August 2007: These FAQs are intended to provide assistance to trustees and beneficiaries under trust based RACs following from amendments made to the Pensions Act 1990 by the Social Welfare and Pensions Act 2007. H...
24 August 2007
Actuary joins the Pensions Board
Friday 24 August 2007: Actuary Pat O’Sullivan has been appointed to the Pensions Board, it was announced today. Pat joins the Technical Services & Research Unit in the Board and takes up his position with immediate effect.
20 August 2007
New Head of Investigations & Compliance announced by The Pensions Board
Monday 20 August 2007: It was announced to-day that Mary Hutch has been appointed as the new Head of Investigations and Compliance by The Pensions Board.
3 August 2007
PRSA Assets exceed Billion Euro at end June 2007
Friday 3 August 2007: The Pensions Board today announced 2nd quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of June 2007.
11 July 2007
PENSIONS BOARD LAUNCHES ANNUAL REPORT
Wednesday 11 July 2007: The Pensions Board today launched its 2006 Annual Report and presented a copy of the Report to the Minister for Social and Family Affairs, Mr. Martin Cullen TD.
6 July 2007
Consultation on the Trusteeship Review: Invitation for written comments
Friday 6 July 2007: Focus is now turning towards the implementation of the recommendations contained in the Trusteeship Review report. As part of that process, an invitation for written comments on the recommendations of the...
6 July 2007
Advertisement for Head of Information Services
Friday 6 July 2007: To enable the Board discharge its functions, a functional area with overall responsibility for the provision of Information Services exists whose Head reports to the Chief Executive. Candidates who wish to...
29 June 2007
PRSA contributor information
Friday 29 June 2007: There was a 37% increase in the number of people opening Personal Retirement Savings Accounts (PRSAs), between the end of 2005 and the end of 2006, according to new data on PRSA take-up released for the f...
1 June 2007
Pensions Board to attend Woman's World Show, RDS
Friday 1 June 2007: The Pensions Board will focus on one of its key target sectors in relation to pensions coverage when they attend the Woman’s World Show at the RDS this weekend (1st – 3rd June), where the Board will be enc...
4 May 2007
Contracts exceed 100,000 in first quarter 2007
Friday 4 May 2007: The Pensions Board today announced 1st quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of March 2007.
18 April 2007
Pensions Board To Take Tougher Approach For Breaches Of The Pensions Act
Wednesday 18 April 2007: The Pensions Board intends to take a tougher approach to any breaches of the Pensions Act and has warned the pensions industry to ensure all its affairs are in order.
18 March 2007
With longer life expectancy an adequate pension is vital
Sunday 18 March 2007: The Pensions Board is urging consumers to ensure they are contributing adequately to their pension on ‘Pensions Adequacy Day’ as part of National Pensions Action Week. The Board is highlighting the good ...
16 March 2007
Multi-lingual online Pensions Calculator and Checklist launched by The Pensions Board
Friday 16 March 2007: The Pensions Board, today, launched its multi-lingual online pension calculator and pension’s checklist at a reception in its offices, to mark ‘International Pensions Day’ as part of Pensions Action Week...
15 March 2007
Pensions Board and National Women's Council of Ireland encourage women to address their pension provision now
Thursday 15 March 2007: There is a serious need for women in Ireland to start to focus on their pension provision, a seminar in Dublin was told today. The Pensions Board and the National Women’s Council of Ireland hosted a br...
13 March 2007
45% of SSIA savers are under 40 and one in four do not have a pension
Tuesday 13 March 2007: The Pensions Board has today called on SSIA holders to address their pension provision with their SSIA savings. Nearly 45% of SSIA holders are young first time savers under the age of 40 and the Board ...
12 March 2007
Half of workers say they have not been offered access to a pension
Sunday 11 March 2007: Employers were today urged to offer their employees access to a pension. Research conducted by the Pensions Board for Pensions Action Week has revealed that 51% of respondents said that they have not bee...
5 March 2007
PENSIONS BOARD LAUNCHES NATIONAL PENSIONS ACTION WEEK 2007
Monday 5 March 2007: The Minister for Social and Family Affairs, Seamus Brennan, TD, announced details of National Pensions Action Week 2007, which will take place from 12th – 18th of March.
16 February 2007
Notes on Social Welfare and Pensions Bill 2007
The Social Welfare and Pensions Bill 2007 was published by the Department of Social and Family Affairs on 16 February, 2007. Part 3 of the Bill provides for a number of amendments to the Pensions Act 1990 in relation to Occup...
15 February 2007
Pensions Board Publishes Report on Trusteeship
Thursday 15 February 2007: The Pensions Board has today published its Report on Trusteeship. The Report involves a detailed review of the trust model of pension scheme governance and examines the role of trustees in occupat...
2 February 2007
PRSA figures for fourth quarter 2006
Friday 2 February 2007: The Pensions Board today announced 4th quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of December 2006.
24 January 2007
Occupational Pension Schemes (Disclosure of Information)(Amendment) Regulations, 2006
An information notice on proposals to amend the Disclosure of Information Regulations was issued in the "News" section of the website on 28 August 2006.Please note that these Regulations (S.I. No. 582 of 2006) effective from ...
14 December 2006
Bulletin 2:2006
On Friday 10 November 2006, Brendan Kennedy was selected by the Pensions Board to succeed Anne Maher as its Chief Executive Officer.
15 November 2006
PENSIONS BOARD TO ATTEND OFF THE RAILS, RDS
Wednesday 15 November 2006: The Pensions Board will attend the ‘Off The Rails’ fashion and beauty show at the RDS this weekend (17th – 19th November), where they will be highlighting the importance for women to start a pensio...
3 November 2006
PRSA figures for third quarter 2006
Friday 3 November 2006: The Pensions Board today announced 3rd quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of September 2006.
29 September 2006
Proposals for amendments to the Pensions Act
Proposals for amending the Pensions Acts 1990-2006 (“the Act”) in 2007