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ARTICLE · 30 JULY 2021

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IORP II – The Pensions Authority Publishes Draft Code Of Practice

William Fry LLP
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Last week saw the Pensions Authority (Authority) publish a draft code of practice (Code), setting out what it expects of pension trustees when it comes to complying with their obligations under the European Union...

European UnionEmployment and HR
Ian Devlin
Ian Devlin
Ciara McLoughlin
Ciara McLoughlin
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Last week saw the Pensions Authority (Authority) publish a draft code of practice (Code), setting out what it expects of pension trustees when it comes to complying with their obligations under the European Union (Occupational Pension Schemes) Regulations 2021 (Regulations). The Authority will publish the finalised Code in the week commencing 15 November 2021. A consultation period remains open on the Code, with submissions welcome until 16 September 2021.

Compliance Planning

The Authority has previously stated that it expects trustees to have a plan in place detailing milestones and timelines towards achieving compliance with the requirements of the Regulations. The Code will provide some assistance to trustees with their IORP II compliance planning. It fills in some of the information gaps left open by the Regulations by, for instance:

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