Regulation (EC) No 2056/2002 of the European Parliament and of the Council of 5 November 2002 amending Council Regulation (EC, Euratom) No 58/97 concerning structural business statistics requires all EU member states to furnish specified information to Eurostat. For pension schemes and trust RACs the required information includes details of the scheme type, benefits, status, membership, fund value and contributions and benefits.
Mary Hanafin TD, Minister for Social and Family Affairs today announced further changes to the rules governing defined benefit schemes to enable them to better cope with recent investment losses. As outlined in the attached press release from the Department of Social and Family Affairs, The Pensions Board will publish technical details of the revisions in early January.
Wednesday 24 September 2008: The Pensions Board brought a prosecution against Limestone Construction Limited, a company incorporated in Ireland and with a registered address at 2 Kilreesk Lane, St Margarets, Co Dublin. The Board also prosecuted Colm McNulty, a director of the Limestone Construction Limited, who also gives his home address as 2 Kilreesk Lane. The case was heard by Judge David McHugh in the Dublin District Court, Court 49, Dolphin House, East Essex Street, Dublin 2
With effect from 1 November 2008 the trustees of every scheme, including large trust RAC schemes, must appoint a registered administrator to provide various services to the scheme known as “core administration functions”.
Wednesday 7 May 2008: 33% of staff working in the hotel and restaurant sector do not know what their main source of income will be in retirement, according to Mr. David Malone, Head of Information Services, The Pensions Board.
Wednesday 30 April 2008: “All employers and employees are being encouraged to discuss pension options in the workplace tomorrow, during Pensions in the Workplace Day.” according to Mr. Brendan Kennedy, Chief Executive of The Pensions Board speaking at the launch by the Minister for Social and Family Affairs, Mr. Martin Cullen TD, of Pensions in the Workplace Day, the first day of the National Pensions Action Week 1- 7 May, at Government Buildings.
Monday 5 May 2008: Three quarters of those who currently do not have a pension think the state pension would not be sufficient to adequately meet their needs in retirement. However, 40% of these people do not intend to start a pension in the next 3 years, according to independent consumer market research commissioned by the Pensions Board.
Thursday 24 April 2008: The Pensions Board is to focus strongly on the hospitality, retail and agricultural sectors during the 2008 National Pensions Action Campaign, in order to highlight the importance of good pension provision, particularly in these sectors which have the lowest pension coverage in Ireland.
These briefing notes are prepared on a section by section basis and are best read in conjunction with the Social Welfare and Pensions Act 2008 (the 2008 Act).
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