European Commission adopts Solvency II Delegated Act
On 10th October 2014, the European Commission adopted a Delegated Act containing implementing rules for Solvency II. This will enter into force once the European Parliament and Council have both approved it, following their scrutiny, for which a maximum period of 6 months can be taken.
Response to the Pensions Authority consultation on financial management guidelines for defined benefit schemes
In July 2014, the Pensions Authority issued a consultation on Financial Management Guidelines of defined benefit pension schemes. The consultation paper can be viewed here.
SAI Response to Department of Social Protection Consultation on IORPS II Directive
Earlier this year, the European Commission published a proposal for an updated IORP Directive. The original IORP was published in 2003 and transposed into Irish law in September 2005. In summary, the current proposals aim to give greater protection of the pension rights of scheme members and beneficiaries.
SAI response to the Department of Justice and Equality consultation on Legislation on Periodic Payment Orders
The Society has responded to the Department of Justice and Equality consultation on Legislation on Periodic Payment Orders. Details of the Society’s response are available here
Pensions Authority Public Consultation Forum on Financial Management Guidelines for defined benefit schemes
The Pensions Authority is holding a Public Consultation Forum on Financial Management Guidelines for defined benefit schemes. The forum will be relevant to trustees, scheme members, providers, managers, advisers and other interested stakeholders.