Pensions Authority publishes master trust compliance report

3 August 2022: Today, the Pensions Authority publishes a report on the compliance of master trusts following the 1 July 2022 compliance deadline.

Following the transposition of the IORP II Directive in April 2021 and the publication of the Code of Practice for trustees in November 2021 there has been extensive and ongoing engagement by the Authority with master trusts in preparation for the Authority’s compliance deadline of 1 July 2022 for master trusts. In anticipation of the 1 July deadline, the Authority’s supervisory focus for 2022 concentrated on the following key risk areas:

  • trustee structure and director appointments,
  • trustee fit and proper requirements,
  • trustee decision-making,
  • capitalisation,
  • key policies and procedures, and
  • key functions

This report sets out the Authority’s main compliance findings in these areas.

The report is available under Related File(s) below.

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For further information, contact:

Technical Unit

The Pensions Authority

Tel: 01 613 1900