COVID-19 Update
We have previously outlined some pensions implications for
employers and trustees as a result of the outbreak of COVID-19 in
our briefing available
here. Since then, a number of other practical issues have
emerged in ensuring the ongoing administration of pension schemes
through the lockdown period. In addition, regulatory guidance has
been published by both the Pensions Authority and the Revenue
Commissioners in relation to COVID-19 and pensions.
Revenue guidance on the Wage Subsidy Scheme
The Revenue Commissioners have issued guidance on the Wage
Subsidy Scheme ("WSS") which includes information on how
the WSS relates to pensions. The guidance (available
here) makes it clear that, where an employer avails of the WSS,
employee pension contributions may not be deducted from the
subsidy. In respect of employer contributions, the guidance notes
that such contributions are not linked to earnings and that there
may be contractual arrangements
