Pensions Authority publishes findings report on IORP II preparation survey
Wednesday 17 February 2021: In November 2020, the Pensions Authority surveyed the trustees of 100 defined contribution (DC) and 100 defined benefit (DB) schemes to assess how prepared they were for the changes that will result from the IORP II Directive (the Directive). Schemes of varying sizes, with a mix of trustee profiles were chosen randomly from the register of occupational pension schemes. The completion of the survey was requested on a voluntary basis.
The survey findings indicated there is a general level of awareness of the Directive among trustees but there is a reluctance to make changes to meet requirements until after the Directive is transposed into law. There is widespread belief amongst those who responded that new legislation will increase cost, time and resources and proportionality of legislation is a concern for schemes of all sizes. The survey findings also highlighted that further guidance from the Pensions Authority is awaited by trustees on many areas covered by the Directive.
More information on the survey findings is available under the Related File(s) section of this page.