Consultation on qualifications for pension trustees

Issued : 3 September 2015

The Republic's Pensions Authority is considering the possiblity of disqualifying trustees without sufficient experience as part of a public consultation launched this week.

The Pensions Authority is undertaking the consultation to consider the impact of proposals for professional trustees, tabled by the European Commission in its initial draft of the revised Directive on Institutions for Occupational Retirement Provision (IORPs) (or pension funds) which has been opposed by a number of EU member States including the UK.

During the consultation, the Authority is asking for views on how a potential trustee qualification should be structured, as well as what information should be contained within a curriculum.

It also asked whether trustees who are currently active in the pensions sector should be allowed to be "grandfathered"  - to continue working if they can demonstrate sufficient experience.

The Authority asked for feedback by the beginning of October.