News Archive

22 June 2012
Minister for Social Protection, Joan Burton T.D. launches The Pensions Board Annual Report 2011
Friday, 22 June 2012: Today, the Minister for Social Protection, Joan Burton T.D., launched The Pensions Board‘s Annual Report and Accounts 2011.
8 June 2012
Construction company director convicted and fined for non compliance with statutory request in a prosecution taken by The Pensions Board
8 June 2012: Yesterday in Carrick-on-Suir District Court on Thursday 7 June 2012, Judge Finn convicted and imposed a fine of €1,000 on Owen Walsh, director of Cornerstone Homes Company Limited with a registered address of Kildalton, Piltown, Co. Kilkenny for failing to comply with a statutory request made by The Pensions Board pursuant to Section 18 of the Pensions Act 1990, to furnish certain information and documentation detailing deductions made from employees’ wages for pension scheme contributions to The Pensions Board within a specified timeframe.
7 June 2012
Pension Board Funding Standard Seminars June 2012
The Pensions Board is hosting a series of pension information seminars to explain recent changes to the funding standard rules for defined benefit pension schemes.
7 June 2012
The Pensions Board publishes funding rules for defined benefit pension schemes
7 June 2012: Today, The Pensions Board published revised rules for defined benefit schemes and announced the deadlines by which trustees must submit funding proposals to the Board to deal with scheme deficits.
1 June 2012
Construction company convicted and fined for non compliance with statutory request in a prosecution taken by The Pensions Board
1 June 2012: In Cork District Court on Tuesday 29 May 2012, Judge Aneous McCarthy convicted and imposed a fine of €1,500 on Equality Management Limited with a registered address at Cuil Greine House, Link Road, Ballincollig, Co. Cork for failing to comply with a statutory request made by The Pensions Board pursuant to Section 18 of the Pensions Act 1990, to furnish certain information and documentation detailing deductions made from employees wages for pension scheme contributions to The Pensions Board within a specified timeframe.
31 May 2012
Bench warrant for the arrest of two construction company directors issued in prosecution taken by The Pensions Board
31 May 2012: In Waterford District Court on Monday 28 May 2012, Judge David Kennedy issued a bench warrant for the arrest of two construction company directors of Leinster Formworks Limited; Patrick Browne of 19 Castlewoods, Ballinamona, Waterford and Tony Henderson of Ballycashin Road, Butlerstown, Waterford.
1 May 2012
Summary of responses to consultation on simplification of defined contribution pension provision
Tuesday 1 May, 2012: The Pensions Board has published a summary of the responses to the consultation on simplification of defined contribution pension provision.
19 April 2012
The Pensions Board report on inspections of Registered Administrators for 2011
Thursday, 19 April 2012: The Board has completed its 2011 series of on-site inspections of Registered Administrators pursuant to its powers under Section 18 of the Pensions Act, 1990 as amended.
12 April 2012
The Pensions Board publishes updated information booklets
Thursday, 12 April 2012: The Pensions Board has published two updated booklets and a new checklist.
26 March 2012
Construction company directors convicted and fined in prosecutions taken by The Pensions Board
Monday, 26 March 2012: In Gort District Court on Thursday 22 March 2012, Judge Durcan convicted and imposed fines totalling €5,000 on Michael Walsh, a director of Micom Construction Limited with a registered address of c/o GBS & Co, Dooruspark, Kinvara, Co. Galway for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit. The company had also failed to reply to a statutory request issued by The Pensions Board.
15 March 2012
240 hours community service sentence imposed on construction company director in a prosecution taken by The Pensions Board
15 March 2012: In Navan District Court, yesterday 14 March 2012, Judge McMahon imposed a sentence of 240 hours community service on Sharon Finnegan, a director of Sharon Finnegan Design & Construction Ltd. (In Voluntary Liquidation). Sharon Finnegan pleaded guilty to eighteen offences relating to failure to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit. These offences were committed with the consent or connivance or were attributable to the neglect of Sharon Finnegan, as director of the company, Sharon Finnegan Design & Construction Ltd. (In Voluntary Liquidation).
10 February 2012
Construction company and directors convicted and fined for failing to comply with a statutory request made by The Pensions Board
10 February 2012: In Killorglin District Court on Thursday 9 February 2012, Judge O’Connor convicted and imposed a fine of €200 on Annadale Construction Limited, a limited liability company with a registered address at Annadale Road, Killorglin, Co. Kerry.
8 February 2012
Construction company convicted for deduction and non-remittance of employee pension contributions to the Construction Workers Pension Scheme
Wednesday 8 February 2012: In Baltinglass District Court yesterday on Tuesday 7 February 2012, Judge Connellan convicted and imposed fines totalling €1,500 on T. Duffy Plant Hire Limited, a limited liability company with a registered address at Slievecorragh House, Hollywood, Co. Wicklow, for failing to remit employee pension contributions to the trustees of the Construction Workers Pension Scheme (CWPS) within the statutory time limit, and for failing to comply with a statutory request made by The Pensions Board.
20 January 2012
Sovereign Annuity Regulations now in force
Friday 20 January 2012: The Occupational Pension Schemes (Disclosure of Information) (Amendment) Regulations, 2012 were signed into law by the Minister for Social Protection, Joan Burton T.D on 11 January 2012. The Pensions Act (Register and Database of Certified Policies or Contracts of Assurance) Regulations, 2012 were also signed into law by the Minister for Social Protection, Joan Burton T.D on 11 January 2012.
19 January 2012
Update on the re-introduction of funding standard obligations for defined benefit pension schemes
19 January 2012: On 28 October 2011, The Pensions Board announced that it expected to publish revised guidelines for defined benefit schemes in deficit and announce new deadlines by which schemes in deficit must submit a recovery plan to the Board by the end of 2011.
18 January 2012
Construction company and directors convicted for deduction and non-remittance of employee pension contributions to the Construction Workers Pension Scheme
Wednesday 18 January 2012: Yesterday, Tuesday 17 January 2012, in Thurles District Court, Judge Lucey convicted and imposed conditional fines totalling €2,000 on EJF Plant Hire Limited Ltd., a limited liability company with a registered address at Parkeen, Graigue, Thurles, Co. Tipperary for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit, and for failing to comply with a statutory request made by The Pensions Board.
21 December 2011
Annual scheme fees for occupational pension schemes
Wednesday 21 December: Annual scheme fees for occupational pensions schemes are payable by 31 of January for single member schemes and by the 31 March for group schemes.
13 December 2011
Consultation on the simplification of defined contribution pension provision
Tuesday 13 December 2011: The Pensions Board has launched a consultation on the simplification of defined contribution pension provision.
5 December 2011
Construction company director fined for deduction and non remittance of pension contributions to the Construction Workers Pension Scheme in a prosecution taken by The Pensions Board
5 December 2011: Today, in the Dublin District Court, Judge John Paul McDonald imposed a fine of €7,000 on Michael Wallace, a director of M & J Wallace Ltd (In Receivership) in relation to the deduction and non-remittance of employee pension contributions within the statutory period. Legal costs of €450 were also awarded to The Pensions Board.
24 November 2011
Construction company fined for non remittance of pension contributions to the Construction Workers Pension Scheme in a prosecution taken by The Pensions Board
Thursday 24 November 2011: In Longford District Court on Tuesday 22 November, Judge Hughes imposed a fined of €500 on Fire and Sound Systems Ltd., a limited liability company, for non-remittance of employee pension contributions within the statutory period. The offences were committed by Fire and Sound Systems Ltd, a company with a registered address at Park Road, Longford, Co. Longford.
17 November 2011
A court sentence of three months imprisonment is suspended to allow construction company director discharge all outstanding pension contributions in a prosecution taken by The Pensions Board
Thursday 17 November 2011: In Arklow District Court on 16 November 2011, Judge Connellan imposed a sentence of three months imprisonment on Eftim Hurley, a director of Eftim Hurley Plant Hire Ltd. The sentence imposed on Eftim Hurley is suspended for 1 year on the basis that all outstanding pension contributions will be discharged by Eftim Hurley Plant Hire Ltd. on or before 1 December 2012.
11 November 2011
Company convicted for deduction and non-remittance of employee pension contributions to the Construction Workers Pension Scheme in prosecution taken by The Pensions Board
Friday 11 November 2011: In Waterford District Court on Friday 4 November 2011, Judge Early imposed fines totaling €1,000 on Cross Electrical Ltd., a company with a registered address at Greenan, Carroll’s Cross, Co. Waterford, for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit and for failing to comply with a statutory request made by The Pensions Board. Dermot O’Neill, John Kirwan and Patricia Kirwan were also each convicted and fined €200 for failing to comply with a statutory request made by The Pensions Board.
10 November 2011
Submission of defined benefit scheme recovery plans
Following the announcement on 28 October by Joan Burton TD, Minister for Social Protection, on changes to the funding standard for defined benefit schemes, recovery plans submitted to The Pensions Board by 12 noon Friday 16th December 2011 will continue to be considered by the Board under the current funding standard and guidance.
28 October 2011
Note for Information on changes to Defined Benefit Pension Provision
28 October 2011: The Government has approved a number of changes to defined benefit (DB) pension provision to help ensure its sustainability, enhance the security of member benefits and increase equity between members of DB schemes.
26 October 2011
The Pensions Board sets out certification conditions for Sovereign Annuities
Wednesday 26 October 2011: The Pensions Board today published its certification conditions for sovereign annuities. Legislation facilitating the introduction of sovereign annuities was passed earlier this year, and the Board’s conditions set out what requirements insurance companies must meet if they wish to offer these products to scheme trustees.
25 October 2011
Construction company and director convicted for failing to remit employee pension contributions and for failure to comply with a statutory request made by The Pensions Board
25 October 2011: In Letterkenny District Court, yesterday, 24 October 2011, Judge Kelly imposed fines totalling €1,500 on John J Dolan with an address at Liskey, Ballinadrait, Lifford, Co. Donegal for failing to remit employee pension contributions to the trustee of the Construction Workers Pension Scheme (CWPS) within the statutory time limit and for failing to comply with a statutory request made by The Pensions Board. John J Dolan Scaffolding Limited (in Liquidation) was also convicted and fined a sum of €3,000 in respect of the same offences.
12 October 2011
Construction company and director convicted for failing to comply with a statutory request made by The Pensions Board
12 October 2011: In Skibbereen District Court, yesterday, 11 October 2011, Judge McNulty imposed a fine of €500 on John Burchill and imposed a fine of €500 on Kerry Burchill, both with an address of Rineen, Skibbereen, Co. Cork for failing to comply with a statutory request made by The Pensions Board. John Burchill Contracting Limited was also convicted and fined a sum of €1,000 in respect of the same offence before the court.
27 September 2011
Construction Company directors sentenced to five months imprisonment for deduction and non remittance of pension contributions in a case taken by The Pensions Board
27 September 2011: In Wexford District Court, yesterday, Monday 26 September 2011, Judge Coughlan imposed a custodial sentence of five months imprisonment on Damien Goff and Francis Goff, directors of Goff Developments Limited, in relation to failing to remit pension contributions to the Construction Workers Pension Scheme (CWPS) for the period between November 2008 and December 2009. Both directors were also fined €4,000 with five months to pay. Goff Developments Limited was also convicted and fined €4,000 with five months to pay. Legal costs of €3,200 were also awarded.
15 September 2011
Trustee Training Reminder
Thursday, 15 September 2011: The Pensions Board is reminding trustees and employers that the 1st February 2012 triggers the two year legal requirement for trustee training.
7 September 2011
The Pensions Board formally names its online data management system as the Interactive Scheme Information System (ISIS)
Interactive Scheme Information System (ISIS) is the formal name given to the Board’s online data management system.
5 July 2011
Social Welfare and Pensions Act, 2011 – Information Note
Tuesday 5 July 2011:The Social Welfare and Pensions Act, 2011 was signed into law on 29 June 2011. It makes certain amendments to the Pensions Act, 1990, as amended (“the Act”). It also makes certain changes in relation to the State pension.
28 June 2011
Construction company and director convicted for non remittance of pension contributions and failing to comply with a statutory request made by The Pensions Board
Tuesday 28 June 2011: In Richmond District Court on Tuesday 28 June 2011, Judge Victor Blake imposed a fine on Diarmuid O’Kane, a director of D O’Kane Excavations Limited, of €6,500 with 8 months to pay in relation to failing to remit pension contributions to the Construction Workers Pension Scheme (CWPS) for periods between October 2008 and May 2009.
20 June 2011
Minister for Social Protection, Joan Burton T.D. launches The Pensions Board Annual Report 2010
Monday, 20 June 2011: Today, the Minister for Social Protection, Joan Burton T.D., launched The Pensions Board‘s Annual Report and Accounts 2010.
31 May 2011
Updated booklet & new checklist about pensions on separation and divorce
31 May 2011: The Pensions Board has updated its booklet on ‘A brief guide to the pension provisions of the Family Law Act’ and published a new checklist about pensions on separation and divorce.
12 May 2011
Two construction company directors convicted for failing to comply with a statutory request made by The Pensions Board
Thursday 12 May 2011: In Mallow District Court on Tuesday 10 May 2011, Joe and Anne McSweeney, with an address at Cloughlucas, Ironmines, Mallow, Co. Cork were both convicted for failing to comply with a statutory request made by The Pensions Board. They were each fined €2,500 with 4 months to pay. The Board was also awarded its costs. The case was heard by Judge Kelleher who noted the seriousness of the offence before him.
11 May 2011
Construction company director convicted on seven charges for non remittance of pension contributions.
Wednesday 11 May 2011: In Ardee District Court on Monday 9 May 2011, Louis Tighe, director of H.T.E Limited (In Liquidation), pleaded guilty to seven offences of failing to remit pension contributions to the Construction Workers Pension Scheme (CWPS).
17 February 2011
The Pensions Board report on inspections of Registered Administrators
Thursday 17 February 2011: The Board has completed its first series of on-site inspections of Registered Administrators pursuant to its powers under Section 18 of the Pensions Act, 1990 as amended.
2 February 2011
The Pensions Board opens online services portal
Wednesday 2 February 2011: The Board opens up its online services portal today to allow fee managers to register for the service.
24 January 2011
The Pensions Board to open its online data management system
Monday 24 January 2011: The Board will open its online portal system on Tuesday 1 February 2011 to allow fee managers to register for the service and to pay the annual fees due using the system within the timeframes available.
19 January 2011
Pension scheme trustee obligations under the Criminal Justice (Money Laundering and Terrorist Financing) Act, 2010
Wednesday 19 January 2011: Trustees who provide pension scheme trustee services on a commercial basis must obtain an authorisation to do so from the Minister for Justice and Law Reform.
12 January 2011
Construction company pays outstanding pension contributions to the Construction Workers Pension Scheme
Wednesday 12 January 2011: Yesterday in the Richmond District Court, prosecution summonses were withdrawn by The Pensions Board against W.W. Electrical Limited with a registered address of 9 Corrybeg, Templeogue, Dublin 6W and the company’s three directors, Terence Wall, Alan Wall and Eileen Wall.
8 December 2010
Introduction of Sovereign Annuities / Bonds
Wednesday 08 December 2010: In his budget speech on Tuesday 7 December 2010, the Minister for Finance announced that new bonds which will facilitate a sovereign annuity pensions product will be available for pension schemes from January 2011. The Minister for Social Protection provided further information during the Social Welfare budget announcements on Wednesday 8 December 2010.
10 November 2010
The Pensions Board reduces occupational pension scheme fees for 2011
Thursday 11 November 2010: The Minister has approved the Board’s recommendation to reduce occupational pension scheme fees by 9.1% on a once off basis for 2011 only. There is no change to PRSA fees.
9 November 2010
Pensions Board case against construction company director is adjourned to allow director time to come up with money for the pension scheme.
Tuesday 9 November 2010: In Ardee District Court yesterday, Judge Clyne adjourned the Pensions Board case against Louis Tighe, director of H.T.E Limited (In Liquidation), until 9 May 2011. The adjournment is to allow time for Tighe to come up with monies for the Construction Workers Pension Scheme (CWPS).
27 October 2010
News update – The Pensions Board extends its online data management capacity
Wednesday 27 October 2010: The Board is continuing to develop its online services to customers with the implementation of a new data management system. Having pension scheme data submitted electronically will facilitate greater efficiencies for pension scheme administrators and enhance the effectiveness of the Board’s overall regulatory operations.
14 October 2010
News update – Deferral of deadline for DB funding proposals
Thursday 14 October 2010: The Government has announced that work on the defined benefit aspects of the National Pensions Framework is to be brought forward and new legislation will be introduced no later than 1 July 2010.
23 March 2010
Guidance on Pensions Insolvency Payment Scheme (PIPS)
The Minister for Finance has signed the statutory instrument giving effect to PIPS from 1 February 2010.
23 March 2010
Presentation by Brendan Kennedy to IAPF Trustee Forum
Thursday 21 January 2010: Presentation by Brendan Kennedy to the IAPF Trustee Forum - What the Pensions Board expects of trustees.
3 March 2010
Construction company director sentenced to 200 hours of community service for non remittance of pension contributions in a case taken by The Pensions Board
Friday 26 February 2010: Today, Judge O’Leary sentenced Gerard Walsh, a director of Wave Roofing and Cladding Limited to 200 hours of community service at Court 3, Cork District Court, Anglesea Street, Cork.
12 January 2010
Self Investment Limits – Reminder
In Bulletin No. 2 - November 2008, the Pensions Board brought the self investment limits under the IORPs directive to the attention of pension schemes. Article 18 of the IORPs Directive limits the investment by a pension scheme to 5% of total assets in the employer and an additional 5% in other group companies related to the employer. The deadline for the implementation of this measure is 23 September 2010 and the Government has decided that it will not be implemented until the Directive deadline. However, the Board wishes to give advance notice of the application of this measure so that schemes take whatever investment steps are necessary in good time.
12 January 2010
FAQs on Section 50
Section 50 guidance has been added to our website.
12 January 2010
Pensions Board prosecutes trustees over failure to submit an actuarial funding certificate
The Pensions Board successfully prosecuted B. & C. Engineering Company Limited with an address at Rockgrove Industrial Estate, Little Island, Cork for failure to submit an actuarial funding certificate within 9 months of the effective date of the certificate as required.
12 January 2010
First report into personal financial education published by national steering group
The Pensions Board welcomes the publication of the first report into personal financial education, entitled 'Improving Financial Capability - a multi-stakeholder approach' by the National Steering Group of Financial Education, of which the Board is a member.
12 January 2010
Information Note on the Occupational Pension Schemes (Duties of Trustees in Connection with Bulk Transfer) Regulations 2009 (S.I. No. 177 of 2009)
The Occupational Pension Schemes (Duties of Trustees in Connection with Bulk Transfer) Regulations 2009 (“the Regulations”) were signed into law on the 7 May 2009. The Regulations impose various requirements on trustees to give certain information when carrying out a bulk transfer from a pension scheme for which the consent of the members is not required. It includes a bulk transfer arising from the winding up of such a scheme. A bulk transfer is a transfer of an amount of money or other resources by the trustees of a scheme in discharge of their liability under the scheme to provide benefits for a group of members. The Regulations come into effect on the 1st August 2009.
12 January 2010
Minister Hanafin launches Pensions Board Annual Report 2008
Trustees and employers have to focus as a matter of urgency on producing funding proposals that are viable and sustainable over the long term.
12 January 2010
Pension Board Seminars 2009
The Pensions Board is hosting a series of pension information seminars to explain recent changes in pension legislation.
12 January 2010
Timetable for submission of funding proposals
Last September, the Pensions Board granted a six month extension to the deadline for defined benefit schemes to submit funding proposals for approval. For some schemes, this extended period expires at the end of June, 2009.
12 January 2010
Eurostat requirements – duties of registered administrators, trustees of small trust RACs and administrators of public service pension schemes
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.
12 January 2010
Moves to ease pressures on defined benefit pension schemes
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.
12 January 2010
Bench warrant issued for arrest of construction company director on foot of Pensions Board prosecution
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
12 January 2010
MINISTER HANAFIN LAUNCHES PENSIONS BOARD ANNUAL REPORT 2007
Today the Minister for Social and Family Affairs, Ms. Mary Hanafin TD, formally launched The Pensions Board, Annual Report and Accounts 2007.
12 January 2010
Sample forms for Registered Administrators
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”.
12 January 2010
33% Of Those Working In The Hospitality Sector Do Not Know What Their Major Source Of Income Will Be In Retirement
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.
12 January 2010
Pensions Board Calls on Employers and Employees to Engage with Pensions during Pensions in the Workplace Day
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.
12 January 2010
Three Quarters Without A Pension Think The State Pension Is Not Enough
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.
12 January 2010
Top Irish Chef Neven Maguire Fires Up National Pensions Action Campaign 2008
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.
12 January 2010
Briefing note on the Pensions Act amendments included in the Social Welfare and Pensions Act 2008
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).
12 January 2010
Advertisement for Policy Development Officer
Advertisement for Policy Development Officer including job description
12 January 2010
Invitation to the Green Paper on Pensions Consultation Seminars
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.
12 January 2010
PRSA figures for fourth quarter 2007
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.
12 January 2010
Pensions Board urges women to plan for a stress free future
Friday 16 November 2007: The Pensions Board will attend the ‘RTE Off The Rails’ fashion and beauty show at the RDS this weekend (16th – 18th November), where it will highlight the importance for women to start a pension. Pensions coverage overall for the female workforce stands at 51%, compared to 58% for men.
12 January 2010
PRSA figures for third quarter 2007
Friday 2 November 2007: The Pensions Board today announced 3rd quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of September 2007.
12 January 2010
CEIOPS Conference 2007 – 20 November 2007
12 October 2006: The CEIOPS (Committee of European Insurance and Occupational Pensions Supervisors) Conference 2007, will take place on 20 November 2007, in Frankfurt am Main.
12 January 2010
Government launches Green Paper on Pensions
The Department of Social and Family Affairs issued a press release on the Government's launch of a Green Paper on Pensions, on 17 October 2007.
12 January 2010
New Head of Information announced by The Pensions Board
Monday 1 October 2007: David Malone has been appointed as the new Head of Information by the Pensions Board, it was announced today.
12 January 2010
The Pensions Board publishes Hybrid Pension Schemes booklet
Friday 28 September 2007: Today, the Pensions Board launched a Hybrid pension scheme booklet which provides guidance to those involved with pension scheme design to understand the different types of scheme designs available.
12 January 2010
The Pensions Board at Ploughing Championships 2007
Monday 24 September 2007: The Pensions Board will attend the National Ploughing Championships at Annaharvey Farm, Tullamore, Co. Offaly, from Tuesday 25 until Thursday 27 September, to provide pensions information for visitors at this major event.
12 January 2010
The Pensions Board publishes on-the-spot fines checklist
Wednesday 12 September 2007: The Pensions Board has today published a Trustee and Employer Checklist in relation to the new on-the-spot fine regime commencing on 17 September 2007. The fine for each offence is €2,000.
12 January 2010
FAQs on Trust Based Retirement Annuity Contracts (RACs)
Friday 31 August 2007: These FAQs are intended to provide assistance to trustees and beneficiaries under trust based RACs following from amendments made to the Pensions Act 1990 by the Social Welfare and Pensions Act 2007. Hard copy and online versions are available under Related Files and Related Articles below.
12 January 2010
Actuary joins the Pensions Board
Friday 24 August 2007: Actuary Pat O’Sullivan has been appointed to the Pensions Board, it was announced today. Pat joins the Technical Services & Research Unit in the Board and takes up his position with immediate effect.
12 January 2010
New Head of Investigations & Compliance announced by The Pensions Board
Monday 20 August 2007: It was announced to-day that Mary Hutch has been appointed as the new Head of Investigations and Compliance by The Pensions Board.
12 January 2010
PRSA Assets exceed Billion Euro at end June 2007
Friday 3 August 2007: The Pensions Board today announced 2nd quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of June 2007.
12 January 2010
PENSIONS BOARD LAUNCHES ANNUAL REPORT
Wednesday 11 July 2007: The Pensions Board today launched its 2006 Annual Report and presented a copy of the Report to the Minister for Social and Family Affairs, Mr. Martin Cullen TD.
12 January 2010
Consultation on the Trusteeship Review: Invitation for written comments
Friday 6 July 2007: Focus is now turning towards the implementation of the recommendations contained in the Trusteeship Review report. As part of that process, an invitation for written comments on the recommendations of the report is being made, with a particular emphasis on the impact of implementing the recommendations. This written consultation will form part of a regulatory impact analysis which is being carried out in relation to the implementation of the recommendations in the report.
12 January 2010
PRSA contributor information
Friday 29 June 2007: There was a 37% increase in the number of people opening Personal Retirement Savings Accounts (PRSAs), between the end of 2005 and the end of 2006, according to new data on PRSA take-up released for the first time today by The Pensions Board.
12 January 2010
Pensions Board to attend Woman’s World Show, RDS
Friday 1 June 2007: The Pensions Board will focus on one of its key target sectors in relation to pensions coverage when they attend the Woman’s World Show at the RDS this weekend (1st – 3rd June), where the Board will be encouraging women to plan for their financial future.
12 January 2010
Contracts exceed 100,000 in first quarter 2007
Friday 4 May 2007: The Pensions Board today announced 1st quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of March 2007.
12 January 2010
Pensions Board To Take Tougher Approach For Breaches Of The Pensions Act
Wednesday 18 April 2007: The Pensions Board intends to take a tougher approach to any breaches of the Pensions Act and has warned the pensions industry to ensure all its affairs are in order.
12 January 2010
With longer life expectancy an adequate pension is vital
Sunday 18 March 2007: The Pensions Board is urging consumers to ensure they are contributing adequately to their pension on ‘Pensions Adequacy Day’ as part of National Pensions Action Week. The Board is highlighting the good news that life expectancy is greater in Ireland now compared to in previous generations, and therefore it is now more important than ever to ensure that you have adequate pensions provision.
12 January 2010
Multi-lingual online Pensions Calculator and Checklist launched by The Pensions Board
Friday 16 March 2007: The Pensions Board, today, launched its multi-lingual online pension calculator and pension’s checklist at a reception in its offices, to mark ‘International Pensions Day’ as part of Pensions Action Week. The online calculator and checklist are now available in the most commonly spoken foreign languages in Ireland which are Arabic, Chinese, French, Spanish, Polish, Russian and are also available in Irish on www.pensionsboard.ie
12 January 2010
45% of SSIA savers are under 40 and one in four do not have a pension
Tuesday 13 March 2007: The Pensions Board has today called on SSIA holders to address their pension provision with their SSIA savings. Nearly 45% of SSIA holders are young first time savers under the age of 40 and the Board believes that continuing the savings habit post SSIA release could provide a significant boost to the pension coverage situation in Ireland if these savers shift their focus to pension provision.
12 January 2010
Half of workers say they have not been offered access to a pension
Sunday 11 March 2007: Employers were today urged to offer their employees access to a pension. Research conducted by the Pensions Board for Pensions Action Week has revealed that 51% of respondents said that they have not been offered access to a pension by their employer and of those, just 6% had asked their employer about a pension.
12 January 2010
Pensions Board and National Women’s Council of Ireland encourage women to address their pension provision now
Thursday 15 March 2007: There is a serious need for women in Ireland to start to focus on their pension provision, a seminar in Dublin was told today. The Pensions Board and the National Women’s Council of Ireland hosted a breakfast seminar and both organisations pointed out the need to address women’s pension provision.
12 January 2010
PENSIONS BOARD LAUNCHES NATIONAL PENSIONS ACTION WEEK 2007
Monday 5 March 2007: The Minister for Social and Family Affairs, Seamus Brennan, TD, announced details of National Pensions Action Week 2007, which will take place from 12th – 18th of March.
12 January 2010
Notes on Social Welfare and Pensions Bill 2007
The Social Welfare and Pensions Bill 2007 was published by the Department of Social and Family Affairs on 16 February, 2007. Part 3 of the Bill provides for a number of amendments to the Pensions Act 1990 in relation to Occupational Pensions and Retirement Annuity Contracts. This section provides information on those amendments.
12 January 2010
Pensions Board Publishes Report on Trusteeship
Thursday 15 February 2007: The Pensions Board has today published its Report on Trusteeship. The Report involves a detailed review of the trust model of pension scheme governance and examines the role of trustees in occupational pension schemes.
12 January 2010
PRSA figures for fourth quarter 2006
Friday 2 February 2007: The Pensions Board today announced 4th quarter data for Personal Retirement Savings Accounts (PRSAs), received from all 10 PRSA providers to the end of December 2006.
12 January 2010
Occupational Pension Schemes (Disclosure of Information)(Amendment) Regulations, 2006
An information notice on proposals to amend the Disclosure of Information Regulations was issued in the "News" section of the website on 28 August 2006.Please note that these Regulations (S.I. No. 582 of 2006) effective from 21 November 2006, have now been commenced which provide for some of the proposals as outlined in that information notice.
12 January 2010
Bulletin 2:2006
On Friday 10 November 2006, Brendan Kennedy was selected by the Pensions Board to succeed Anne Maher as its Chief Executive Officer.
12 January 2010
Pensions Board prosecutes employers over failure to meet pensions obligations
Monday 20 November 2006: The Pensions Board today successfully prosecuted Mr. Niall Dennis with an address at 2 Woodlawn Crescent, Woodlawn, Santry, Dublin 9 and Wal Mart Newsagents Limited with an address at Unit 1, Churchview Parade, Celbridge Road, Leixlip, Co. Kildare for failure to comply with the Pensions Board requests for information in relation to their PRSA obligations as employers.