The Social Welfare and Pensions (Miscellaneous Provisions) Act,
2013 (the "Act") made a number of
changes relevant to pensions. However, some changes that might have
been expected were not introduced.
The Act gives the Pensions Board new powers to order the winding
up of a pension scheme in certain circumstances (concerning
underfunding). Changes have also been made in relation to
restructuring proposals; there are new information disclosure
requirements and where there is a direction given on restructuring,
this may be appealed to the High Court on a point of law.
The Act has restructured the Pensions Board. Under the Act, the
Pensions Board will change its name to the Pensions Authority. The
regulation of the pensions industry will, in the future, be
undertaken by the Pensions Authority. The Chief Executive of the
current Pensions Board will be given the new title of Pensions
Regulator. A new Pensions Council will take up the advisory
function to the Minister for
