By Gail Moss2021-02-17T14:00:00+00:00
Irish pension funds are reluctant to make the changes needed to comply with IORP II before it is transposed into Irish law, according to a Pensions Authority survey.
While there is a general level of awareness of the directive among trustees, there is also a widespread belief that new legislation will increase cost, time and resources, while proportionality is also a concern for schemes of all sizes, the regulator relayed.
The Pensions Authority contacted trustees of 100 defined benefit (DB) and 100 defined contribution (DC) schemes last November. Schemes of varying sizes were chosen randomly from the register of occupational pension schemes.