IORP II Transposed in Ireland - Significant changes lie ahead for pension schemes
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Regulations have been published this week by Minister for Social Protection, Heather Humphreys, to transpose the EU IORP II Directive into Irish legislation. These regulations introduce higher standards for pension scheme governance.
The regulations will apply to all company pension schemes, but there are different timelines depending on the type of scheme.
One-member arrangements have a derogation that defers most aspects of the regulations for… Continue reading →
Property Fund Notice Period Lifted
Posted onIn March 2020 we introduced a six-month delay (notice period) for withdrawals or switches from our Irish and UK Property Funds.
This six-month notice period has now been removed from our Pension Property Funds, with effect from 16 April 2021.
From this date any withdrawal or switch requests are processed without delay.
Why has the notice period been lifted on the Pension Property Funds?
The onset of COVID-19 created material uncertainty around property valuations. This… Continue reading →
Sustainability Disclosures
Posted onResponsible Investing (RI) is a now major area of focus for investment managers. Irish Life Investment Managers (ILIM) have incorporated RI into our investment philosophy with our EMPOWER and MAPS range of funds to ensure that the companies in which we invest have sustainable practices that will promote favourable long-term outcomes for the companies, the funds and ultimately planet Earth! Two recent pieces of legislation have been enacted which increase the onus on providers and Trustees… Continue reading →
Irish Life Staff Charities 2021
Posted onWe are delighted to announce the Irish Life Staff Charities for 2021 chosen by our employees are ALONE and Larkin Community College.
ALONE empowers older people to live at home for as long as they wish. This is important now more than ever with the social isolation and loneliness arising from Covid-19.
Larkin Community College, based in the heart of Dublin 1 is very close to our hearts at Irish Life. Situated just around the corner from our offices, we have a long standing partnership… Continue reading →
Irish Life Staff Charities Update 2020
Posted onWe are delighted to announce that Irish Life Staff Charities donated an incredible total of €370,800 to two Irish charities. The funds were raised throughout 2020 by employees through various fundraising initiatives undertaken and the amount was then matched by Irish Life to reach this final total.
Despite everything 2020 threw at the world, one thing above all others continued to stand firm; Irish Life staffs support for the wider community. … Continue reading →
State Pension Age stays at age 66
Posted onAs had already been announced by Government, legislation was passed to keep the State Pension age at 66.
The Social Welfare Act 2020 was signed on 22 December 2020 and this deleted the relevant provision (Section 7 of the Social Welfare and Pensions Act 2011) which would have increased the State Pension age to 67 from 01/01/2021 and to 68 from 01/01/2028.
There is now no provisions in legislation to trigger a future increase to the State Pension age. New legislation will need to be passed… Continue reading →
Irish Pensions Awards 2020
Posted onCorporate Business takes home the award of Excellence in DC at the Irish Pensions Awards 2020.
This category looked at all areas of DC and Corporate Business were chosen “as an entry that stood out from the others.” The announcement outlined the areas of expertise across our leading edge technology, dynamic investment solutions, market-leading administration, innovative approach to lifestyling and a focus on the member experience as well as overall financial wellness. We’re so proud to… Continue reading →
Innovating to make change easier for pension savers
Posted onThe emphasis now on Defined Contribution pension schemes means trustees, pension providers and financial advisers must adapt to this change and look for new ways to help people plan for their future, writes Sean Egan, Director – Corporate Partnerships, Irish Life Assurance plc
“Intelligence is the ability to adapt to change.” – Stephen Hawkins
A lot of things have changed in the world since Stephen Hawkins uttered these words – we’ve seen the rise of social… Continue reading →
Property Fund Exit Update
Posted onIn recent months, economic uncertainty arising from the Covid-19 virus has increased the level of withdrawals from Property funds and created some market uncertainly around property valuations.
Therefore, in order to protect the interests of long-term investors in the Funds Irish Life introduced a six-month notice period in March for member exits from the Property Fund.
As we are all aware Covid-19 has introduced significant market volatility and the property market is not immune to… Continue reading →
Investing in a sustainable future: responsible investment
Posted onIrish Life are at the forefront of responsible investment in Ireland – and we want to share our commitment and approach to building a sustainable future with you.
Irish Life Investment Managers (ILIM)
Irish Life Investment Managers (ILIM) is our appointed investment manager. ILIM's vision is to build better futures and ILIM are committed to managing the assets entrusted to them responsibly, with the objective of delivering longer-term sustainable returns.
Click here to find out more… Continue reading →
