Ireland retirement benefits insights

The retirement benefits landscape in Ireland is undergoing significant transformation. This change has significant implications for sponsoring employers, trustees and pension scheme members.

The occupational retirement benefits landscape in Ireland is undergoing significant transformation due to a raft of new legislation, regulation and policies. The introduction of the new IORP II regime, plans for a new automatic enrolment retirement savings system, and the rapid growth of master trusts, to name just a few developments, are changing how defined benefit and defined contribution schemes operate and how employers provide retirement benefits.

Defined contribution (DC) plans are considering their options for managing the enhanced regulatory obligations. While there has been a marked shift to fully-outsourced master trust solutions in the DC space, many employers are still opting to modify their schemes to meet the obligations under IORP II. Defined benefit (DB) plan sponsors continue to face many challenges both in terms of increased regulation and macro-economic factors affecting funding requirements. Employers and trustees are having to be take a more strategic and proactive approach to managing risks.

Please read our latest pensions update

This update covers:

- Authority engagement and audit findings report for 2023

- Supervisory review process (SRP)


- Industry developments

Archive of recent Ireland pension benefits insights and updates

  • Ireland Pensions Update – November 2023 

Read more here

  • Defined Benefit Surplus – an employer’s perspective

Find out more about what options to consider for your DB journey plan?

  • Rising interest rates wipe out DB pension scheme surplus

Read the latest news releases here

  • Auto-enrolment

The “Design Principles” for Ireland’s Automatic Enrolment Retirement Savings system were announced on March 29, confirming that – subject to the Government passing the enabling legislation – Ireland will have an automatic enrolment retirement savings system up and running by Q1 2024. 

  • Master trust – the DC occupational pension scheme of choice

master trust allows an employer to retain a high quality and value for money retirement savings arrangement for employees, while at the same time being able to outsource all aspects of management and regulatory compliance.

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