The Pensions Board publishes consultation paper on the future of defined contribution pensions
Tuesday 13 August 2013: Today, The Pensions Board published a consultation paper on defined contribution pensions as part of a review of the regulation and future structure of DC provision. This is with a view to supporting DC schemes in delivering good outcomes for members. The consultation period will run from today until 30 October 2013.
The paper, which can be accessed under 'Related Documents', sets out an overview of the current DC system, including the Board’s view of some significant problems within the system. It also contains an outline of the Board’s vision of the future regulation of DC pension provision and sets out specific questions on which the Board is seeking response.
Commenting on the publication of the consultation paper, the Chief Executive Officer of The Pensions Board, Mr. Brendan Kennedy said “future occupational pension provision in Ireland is likely to be predominantly defined contribution (DC). The outputs from this consultation will form an important part in the Board’s review of DC provision which may ultimately lead to proposals for legislative change. The Board would like to hear from trustees, providers, managers, advisers and other interested stakeholders on the areas covered in the consultation document by Wednesday 30 October 2013.”
A public forum to discuss the issues raised in the consultation process will be held during the consultation period details of which will be announced at a later date.
For further information, contact :
Head of Operations
The Pensions Board
Tel : (01) 6131900
Note to Editors
The Pensions Board 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.pensionsboard.ie