News

The Society of Actuaries in Ireland has issued a press release following a presentation at the SAI's Annual Convention from the Chair of the Pensions Council, Roma Burke, which calls for tax and legislation changes to promote gender equality in Private Pensions Coverage.

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The Society of Actuaries in Ireland has expressed concerns about the regulation of pension schemes.

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The Society has today issued a press release on Automatic Enrolment Retirement Savings System.  Click here to read the full press release.

The Society of Actuaries in Ireland has published a research report on the Financial Sustainability of the State Pension in Ireland.  The report, produced by Milliman, was commissioned by the Society and PublicPolicy.ie, with a view to informing debate and public policy decisions.

Key findings:

Pensions Council

The Society of Actuaries in Ireland welcomes the Tánaiste’s announcement of the membership of the Pensions Council. 

The Council’s function is to advise the Minister for Social Protection on matters of pensions policy.  Including Brendan Kennedy, Chief Executive of the Pensions Authority, the twelve-person Council includes five of the Society’s Fellow members – the others being Roma Burke, Tony Gilhawley, Sandra Rockett and Dr Shane Whelan – each of whom has a wealth of skills, knowledge and experience to offer. 

The Society has today issued a press release welcoming the Government’s decision to establish an expert group to formulate plans for a universal retirement savings scheme for private-sector workers. 

The Society of Actuaries in Ireland is recommending to Government that a mandatory pension system should be developed over the next 5 years for all workers as the best way of increasing private pensions coverage and improving the adequacy of pensions for individuals in Ireland. 

The Society’s position paper is available here.

The Minister for Social Protection, Joan Burton, has announced a package of legislative measures to address the situation where an underfunded DB pension scheme winds up or elects to restructure.  The legislation is due to be published and enacted in the coming weeks.

The Society of Actuaries in Ireland has issued a press release expressing concern about the delay to the reform of pensions legislation following publication of the Social Welfare and Pensions (Miscellaneous Provisions) Bill 2013 yesterday. The Bill does not address major reforms required to pensions legislation for defined benefit schemes.
 

The Society of Actuaries in Ireland is pleased to publish the attached report on “Analysis of Fiscal Incentives for Retirement Savings – models and redistributive effects”. 

PRESS RELEASE

The Society of Actuaries in Ireland has today issued a Press Release in response to the Pensions Board funding rules for defined benefit pension scheme.