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NEW YORK, April 06, 2022 (GLOBE NEWSWIRE) WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on. ....
Pension reform throws harsh light on Irish retirement savings Ireland has too many small pension funds with high costs, run by amateur trustees about 6 hours ago
It was fitting somehow that the biggest regulatory reform of Irish pensions was announced with no fanfare. Just a press release issued without notice at the end of the working day – after 5:30pm. Pensions are a difficult sell and, at first sight, this latest landmark reform is an indicator of why. Called IORP II, the acronym is even more impenetrable than its actual title – the EU directive on the activities and supervision of institutions for occupational retirement provision. Essentially, it is designed to improve governance of pension schemes and communications with pension scheme members. ....
The Government has moved to introduce improved protection for Irish occupational pension scheme members, transposing new EU standards, called IORP II into Irish law. The move has been described as the most significant regulatory reform in a generation. It will introduce stricter rules on governance, including risk assessment and internal audit of schemes, as well as improved communications with members of pension schemes â including deferred members who have moved on to other jobs but retain rights to preserved benefits in a scheme. However, they will also significantly limit the current freedom of smaller schemes to invest in unregulated investments and to borrow within funds for investment. ....