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ARTICLE · 24 JANUARY 2018

Some Legal Issues Affecting Defined Benefit Pension Schemes

Gordon Judge Solicitors
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This note contains the main elements of a presentation delivered by Gordon Judge at a seminar on 29th September 2017 organised by Smith & Williamson for members of defined benefit pension schemes.

IrelandEmployment and HR
Gordon Judge
Gordon Judge

This note contains the main elements of a presentation delivered by Gordon Judge at a seminar on 29th September 2017 organised by Smith & Williamson for members of defined benefit pension schemes.

On first impressions, a defined benefit (DB) pension scheme is the best type of pension you can have.

It promises a pension based on a percentage of final salary.  Planning for the future is easy. But – and there always is a 'but' – this all depends on the scheme's ability to fund its pension obligations for all members.

The viability of schemes may be affected by lack of employer funding, low interest and bond rates and poor investment performance.  As we all live longer and healthier lives, pensions must last longer.

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