One-member arrangements awaiting Revenue approval

11 May 2023: On 29 September 2022, the Pensions Authority advised that the trustees of one-member arrangements (OMAs) established on or after 22 April 2021 who have made a formal commitment to wind up and transfer the assets, are not expected to prepare an annual report and audited accounts, provided that the formal commitment was made by the trustees before 31 December 2022 and the OMA is wound up no later than six months after the formal commitment was made.

The Authority is aware that there are a number of OMAs that have been submitted on the PDR system for registration that are still awaiting Revenue approval, and so wind-up cannot be commenced. The Authority wish to inform trustees that these schemes have six months from the date of Revenue approval within which to complete the wind up and transfer of assets.

It should be noted that this facilitation only applies to schemes where approval has already been sought through PDR prior to the publication of this notice. Any further OMAs are expected to be fully compliant with immediate effect. The Authority will continue to actively monitor the establishment of any new OMAs.


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For further information, contact:
Technical Unit
The Pensions Authority
Tel: 01 613 1900