Pensions Authority publishes instructions on trustee outsourcing notification obligations
1 December 2021: Today, the Pensions Authority publishes instructions for trustees on how to make a notification of the appointment of key function holders as provided for under the Pensions Act, 1990, as amended (the Act).
Outsourcing notification obligations
Section 64AM of the Act requires trustees to notify the Authority of outsourcing arrangements.
Information on trustee key function holder outsourcing notifications can be found in the Authority’s news alert of 15 October 2021.
From today, 1 December 2021, trustees must notify the Authority when they enter an outsourcing arrangement for the provision of the internal audit and risk management key functions. The instructions on how to make key function holder outsourcing notifications is available under Related File(s) below and has also been published to the Help section of the Pensions Data Register (PDR). All notifications must be made through the PDR.
The Authority will publish the following information:
- guidance for the public and employers about the minimum standards they should expect from master trusts during the week commencing 13 December 2021, and
- findings report from our engagements with master trusts, DB and DC schemes during the week commencing 13 December 2021.
News by email alert service
You can sign up for free on the Authority’s website to receive an email alert anytime the Authority publishes information on its website.
For further information, contact:
The Pensions Authority
Tel: 01 613 1900
Note to Editors
The Pensions Authority is the statutory body that supervises compliance with the requirements of the Pensions Act, 1990, as amended, by trustees of occupational pension schemes and trust RACs, PRSA providers, registered administrators and employers. The Pensions Authority also provides guidance and information to these stakeholders on their duties and responsibilities and advises the Minister for Social Protection on pension matters. See www.pensionsauthority.ie