Change to the calculation of fees for occupational pension schemes

2 January 2024: Today, the Pensions Authority publishes a change to the calculation of fees for occupational pension schemes with 20 or more participating employers.

The Minister for Social Protection, with the consent of the Minister for Public Expenditure, National Development Plan Delivery and Reform, has approved a revised definition of ‘active member’ for the purposes of the Occupational Pension Schemes (Fees) (Amendment) Regulations, 2002 [S.I. No. 610 of 2002] with effect from 1 January 2024. See S.I. No. 678 of 2023.

From 1 January 2024, where a scheme has 20 or more participating employers on 31 December in the preceding year of account, fees must be calculated based on the number of active members in the scheme as at 31 December in the preceding year of account.

There is no change to the fee rates for the 2024 year of account.

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For further information, contact:

Technical Unit
The Pensions Authority
Tel: 01 613 1900
info@pensionsauthority.ie