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ARTICLE · 19 JANUARY 2021

Pensions Winter Briefing

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

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We look ahead at the developments we may see across the Irish pensions sector later this year.

IrelandEmployment and HR
Ian Devlin
Ian Devlin
Ciara McLoughlin
Ciara McLoughlin
Jane Barrett
Jane Barrett
Rebecca McEvoy-Martin
Rebecca McEvoy-Martin
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PENSION DEVELOPMENTS – WHAT'S ON THE HORIZON IN 2021?

We look ahead at the developments we may see across the Irish pensions sector later this year.

1. Culture Change Coming? The Pensions Authority's Expectations of Trustees

We now understand that we will see legislation transposing IORP II in the first half of 2021, and possibly during Q1. In anticipation of this legislation, the Pensions Authority (Authority) made a number of announcements late last year highlighting what it expects of trustees once IORP II is implemented, how it will supervise trustees, and what can be done now by trustees to prepare for IORP II.

On 7 October 2020, the Authority published new information for trustees of defined benefit schemes and on 23 November 2020 the Pensions Regulator, Brendan Kennedy, spoke at the IAPF's Annual Governance Conference. In both instances the same message was conveyed; the culture of trustee boards will, from now on, be central to the Authority's

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