News

26 Apr 2012

Newsletter April 2012

16 Apr 2012

Minister Burton publishes Social Welfare and Pensions Bill 2012

Joan Burton TD, Minister for Social Protection today (5th April) published the Social Welfare and Pensions Bill 2012 to give effect to a number of reforms including those in the areas of the One-Parent Family Payment scheme and Defined Benefit Pension schemes. The main provisions in the Bill are set out here.

23 Mar 2012

CERA Treaty Board approves Thought Leader and Verifiable Experienced Practitioner application

From the UK Actuarial Profession's ERM Newsletter, March 2012:

"We are pleased to announce that the CERA Treaty Board has recently granted approval to the application from the UK Actuarial Profession to award the CERA qualification to Thought Leaders and Verifiable Experienced Practitioners.

Over the next few months, the identification and confirmation of Thought Leaders will begin. This will be done using a Selection Panel and will be by invitation only.

The key criteria for a Thought Leader are:

12 Mar 2012

Solvency II: vote on Omnibus II postponed to July 2012

The plenary vote on Omnibus II in the European Parliament has been rescheduled from 17 April 2012 to 2 July 2012. Read Central Bank of Ireland update.

08 Mar 2012

Groupe Consultatif speaks out at hearing on review of IORPs Directive

From a press release issued by the Groupe Consultatif:

"EU Public Hearing of IORPs: Groupe Consultatif dismisses pensions comparable to insurance

22 Feb 2012

Newsletter February 2012

30 Jan 2012

ASB issues proposals on Financial Reporting Standards

From the UK Financial Reporting Council today (30th January 2012):

ASB issues revised proposals for the Future of Financial Reporting Standards in the UK & Republic of Ireland

The Accounting Standards Board (ASB) of the Financial Reporting Council has today published financial reporting exposure drafts (FREDs) 46 to 48 setting out revised proposals for the future of financial reporting in the UK and Republic of Ireland.

23 Jan 2012

Sovereign Annuity Regulations now in force

The following Sovereign Annuity Regulations are now in force:

1. The Occupational Pension Schemes (Disclosure of Information) (Amendment) Regulations, 2012 were signed into law by the Minister for Social Protection, Joan Burton T.D on 11 January 2012.

2. The Pensions Act (Register and Database of Certified Policies or Contracts of Assurance) Regulations, 2012 were signed into law by the Minister for Social Protection, Joan Burton T.D on 11 January 2012.

20 Jan 2012

Update from Pensions Board on the re-introduction of funding standard obligations for defined benefit pension schemes

The following is an extract from the Pensions Board website. Full details can be found here:

16 Jan 2012

SAI eNews January 2012

13 Jan 2012

Society responds to consultation on EU-wide legislative framework for IORPs

In April 2011, the European Commission asked EIOPA for advice on the EU-wide legislative framework for IORPs (Institutions for Occupational Retirement Provision).

11 Jan 2012

European Commission publishes guidelines on Gender Directive

The European Commission has published guidelines on the application of the Council Directive 2004/113/EC (the “Gender Directive”) to insurance, in the light of last year’s judgment of the Court of Justice of the European Union in Case C-236/09 (Test-Achats).

Article 5(1) of the Gender Directive provides that, for new insurance and other financial services contracts concluded after 21st December 2007, the use of gender as an actuarial factor in the calculation of premiums and benefits must not result in differences in individuals’ premiums and benefits.

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