Pensions Board Reminder on Funding Proposals / Section 50
30 August 2010
Pensions Board Reminder on Funding Proposals &
Section 50 Applications
The Pensions Board have written to the Irish Association of
Pension Funds (IAPF)drawing attention to the impending deadline for
action by trustees of defined benefit schemes in deficit, outlining
the general approach that the Board will be adopting where schemes
have not taken steps to eliminate the deficit by the expiry of the
deadlines.
The deadlines to file funding proposals and/or a Section 50
application will start to expire from November 30th 2010. The Board
says it is critical that trustees take steps to meet the funding
standard or submit the appropriate application on or before the
deadline for their scheme. The Board expects to receive
applications by the due deadline and will consider these on the
basis of the factors and criteria outlined in various
communications, including the guidelines and FAQs which can be
accessed at www.pensionsboard.ie.