Funding Irish defined benefit plans

This is a reprise of the recent presentation made by Roz, on behalf of the Society, to the Pensions Partnership Review Group*.  The presentation highlights the fundamental cost drivers for defined benefit pension schemes, and shows how these have changed over the past fifteen years. Roz explains why changes to the minimum funding standard would not be the solution, and suggests other ways in which some of the cost pressures could be mitigated.  This evening meeting will be of interest not only to pension practitioners, but also to actuaries in other practice areas, as an excellent overview of the current debate on defined benefit pensions. Roz's presentation was complimented by the Pensions Partnership Review Group as a robust contribution to its deliberations, and we are delighted that Roz has agreed to make her presentation a third time (having also presented it within the Pensions Board).  

 *The Partnership Pensions Review Group was established under the social partnership agreement ("Towards 2016") in which Government agreed to engage with employers and trade unions, in a process to be supported by appropriate expertise and taking account of the reports of the Pensions Board and of the operation of the annuity market, in the context of a comprehensive approach to future pensions policy. The outcome of this exercise will feed into the formulation of the Government's Green Paper on National Pensions Policy.