IORP II Directive - What is in Store for Irish Pension Schemes?

Matheson LLP, Irish Law Firm

The new EU Directive on the activities and supervision of institutions for occupational retirement provision (commonly known as “IORP II”) is due to be transposed into Irish law by 13 January 2019. Amongst other things, IORP II seeks to improve the governance of pension schemes and promote risk-based supervision. When implemented, it will require significant changes to be made by many Irish pension schemes. In this episode, Deirdre and Jane discuss the aspects of the Directive that are likely to impact most on Irish pension schemes. In the absence of draft implementing legislation at national level, they consider what guidance can be offered by recent pensions related consultation papers and Pensions Authority guidance in relation to the likely approach to be taken in implementing the Directive. They also provide insight on steps that trustees can start taking now to prepare for the changes to come.