Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision (“the IORPs Directive”) imposes regulatory requirements on schemes and it would appear these requirements apply to trust based RACs. In order to comply with the IORPs Directive and for other policy reasons consideration is being given to bringing trust based RACs within the ambit of the Pensions Acts.
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) 2006 Conference, will take place on 14 November 2006 in Frankfurt am Main, Germany.
Friday 5 May 2006: 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 2006.
Sunday 30 April 2006: National Pensions Action Week 2006: 64% of respondents in a recent consumer survey conducted by the Pensions Board said that it should be compulsory to start a pension, with 47% saying that they would be willing to pay a higher PRSI rate to provide for compulsory pensions. The research findings were revealed at the start of National Pensions Action Week which kicks off tomorrow during which the Pensions Board is encouraging consumers to take action around pensions.
Tuesday 2 May 2006: Pensions must be accessible to all in the workplace and in society,” Anne Maher, Chief Executive, Pensions Board said today. Ms Maher was speaking during ‘Pensions in the workplace day’, when the Pensions Board launched its Pensions Checklist in Irish, French, Spanish, Polish, Russian, Arabic and Chinese. The Board also launched an information booklet ‘ Guide to Equal Pension Treatment’ and Guidance Notes on this subject.
Monday 24 April 2006: The Pensions Board today has announced details of National Pensions Action Week which will take place from May 1st – 7th and will exhort people to take action around pensions.
Section 37 of the Social Welfare and Pensions Act 2005 introduced a new Part XII into the Pensions Act, 1990 to allow pension schemes to engage in cross-border activity. Directive 2003/41/EC, on the activities and supervision of institutions for occupational retirement provision (IORPs), requires that schemes registered or established in one Member State will be
Friday 8 July 2005: The Pensions Board today successfully prosecuted two trustees of occupational pension schemes for failure to provide timely information in relation to their respective schemes to the Board.
Following its adoption at the Plenary meeting of CEIOPS (Committee of European Insurance and Pension Supervisors) on 22 February 2006, the Protocol for co-operation between Pension Supervisors has been published. The Protocol sets out the agreed guidelines for co-operation between supervisors in regulating cross-border pension activity under EU Directive 2003/41/EC on the activities and supervision of institutions for occupational retirement provision.
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