News

Today the Minister for Social and Family Affairs, Ms. Mary Hanafin TD, formally launched The Pensions Board, Annual Report and Accounts 2007.

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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In October 2007, the Government published the Green Paper on Pensions to promote debate on the challenges and options for the future of pensions in Ireland. In order to further this debate, the Department of Social and Family Affairs is holding a number of regional seminars to give people the opportunity to discuss the issues involved and to make their views on pensions known.

Friday 8 February 2008: The Pensions Board today announced fourth quarter data for Personal Retirement Savings Accounts (PRSAs), received from all ten PRSA providers to the end of December 2007.