The Pensions Board published a synopsis of the main points made in submissions it received in response to its consultation paper on the future structure and regulation of defined contribution (DC) pensions.
During the consultation period which ran from August to October 2013, the Board held public meetings in Dublin and Cork to discuss the matters raised in the consultation paper. The meetings were very well attended and were followed by 44 written submissions to the Board of which 6 were from individuals and 38 were from organisations/schemes.
Commenting on the consultation process, the Chief Executive of The Pensions Board, Mr. Brendan Kennedy said that: “The Board is encouraged by the level of engagement with its consultation on the future of DC pensions, especially as future occupational pension provision in Ireland is likely to be predominantly DC.
Whilst no conclusions have been drawn at this point, the Board welcomes all of the submissions received, which will assist in our deliberations for the next stage of the process in deciding what the future shape of DC will be”.
The Board will continue to analyse the submissions and in due course prepare a report for the Minister for Social Protection with its recommendations.
The consultation paper can be viewed here.
If you have any comments or questions regarding these consultation papers, please do not hesitate to contact us.