The Pensions Authority publishes draft guidelines on financial management of defined benefit schemes

Wednesday 23 July 2014: The Pensions Authority has published draft guidelines on financial management of defined benefit schemes and announced a consultation period until the end of September 2014.

The guidelines set out what practices the Authority expects trustees to follow in order to understand and manage the funding and investment of their defined benefit scheme. The Authority invites responses from trustees, providers, managers, advisers and other interested stakeholders on all aspects of the guidelines.

The Pensions Regulator, Brendan Kennedy said: “Trustees of defined benefit schemes are faced with complicated financial responsibilities. These guidelines are intended to be a practical guide to what the trustees should do to understand the financial position of their scheme and to manage their scheme’s funding and investment. These guidelines are a minimum, and we expect that in practice, trustees are likely to be doing more.”

The Authority has provided a form for all responses to be submitted by the closing date of the consultation process, Tuesday 30 September 2014. A public meeting to discuss the issues will be held during the consultation process and details of this meeting will be announced on the website at a later date.

The guidelines and the response submission form are located under ‘Related Documents’.

ENDS

For further information, contact:

David Malone
Head of Operations and Communications
The Pensions Authority
Tel: (01) 613 1900

Note to Editors

The Pensions Authority is the statutory body established by the Pensions Act, 1990 to regulate occupational pension schemes, trust based RACs and Personal Retirement Savings Accounts (PRSAs) www.pensionsauthority.ie