ARTICLE · 16 MARCH 2018

Pensions Update – Spring 2018

Arthur Cox

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This is the Spring 2018 update from our Pensions Group.

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Michael Shovlin

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1. A ROADMAP FOR PENSIONS REFORM 2018-2023

Overview

The Government published a paper called A Roadmap for Pensions Reform 2018-2023 (the "Roadmap") on 28 February 2018. The Roadmap aims to build on reports published by previous Governments, identifies specific actions that need to be taken to reform private and public sector pension provision and sets out a timetable for implementation. The Roadmap looks at six key "strands" of action. They are: (i) reform of the State pension; (ii) a new auto-enrolment savings system; (iii) improving governance and regulation (including IORP II); (iv) measures to support the operation of defined benefit ("DB") schemes; (v) public service pensions reform; and (vi) supporting fuller working lives. Additional summary information in relation to each is set out further below. The paper may be obtained from http://www.welfare.ie/en/pressoffice/pdf/PensionsRoadmap.pdf.

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