Pension scheme fees
One of the Pensions Authority’s main sources of income derives from fees levied on occupational pension schemes, including trust retirement annuity contracts (RACs). Scheme fees are levied in respect of active members only.
The trustees of a scheme are responsible for the payment of the correct fee. Trustees may delegate this role, however they have ultimate responsibility for the payment of scheme fees under the Pensions Act.
The Pensions Authority only accepts fee payments through the Authority’s Pensions Data Register (PDR) which can be accessed on the left.
Any one of the registered interested parties to a scheme may sign up at the link above and pay scheme fees. Payment is acceptable in the form of credit card or EFT payment (see below for bank details). It is essential that EFT payments are supported by the reference numbers generated at the point of processing the payment through the PDR.
Further information on the fees that apply in relation to the different types of occupational pension schemes can be viewed by selecting the relevant link on the navigation bar.