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ARTICLE · 01 FEBRUARY 2016

Pensions Update: Pensions Authority - The Plan Ahead

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

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The Pensions Regulator expressed concern with the current low interest rate environment and the negative affect this was having on pension scheme funding.

IrelandEmployment and HR
Peggy Hughes
Peggy Hughes
Stephen Gillick
Stephen Gillick
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The Pensions Authority held a seminar on 27 January 2016 in Dublin where the Pensions Regulator, Brendan Kennedy, set out the Authority's plans for the industry for the next five years and highlighted areas which are a cause for concern.

The Pensions Regulator expressed concern with the current low interest rate environment and the negative affect this was having on pension scheme funding. Initially, it was hoped that the interest rates would bounce back, but the industry is slowly coming to the realisation that low interest rates may be with us for years to come. Market losses and market volatility were highlighted as other issues affecting the sector.

The Pensions Regulator highlighted that Defined Benefit (DB) pension schemes were still the focus of much attention of the Pensions Authority. There are over 700 DB schemes in Ireland. This number has fallen by approximately 400 in the last six years due to DB scheme wind-up. The Pensions Regulator emphasised that

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