About Us

The Pensions Authority

The Pensions Authority regulates occupational pension schemes, trust RACs and Personal Retirement Savings Accounts in Ireland as part of our statutory role to monitor and supervise the operation of the Pensions Act.  The Pensions Authority also provides advice to the Minister for Employment Affairs and Social Protection on pension matters generally.

One of the requirements under the Pensions Act is that an employer who operates a scheme or trust RAC shall arrange for the trustees of that scheme or trust RAC (and, in the case of a trustee which is a body corporate, for all the directors of that body corporate) to receive appropriate training in relation to-

  • this Act, the regulations made under it and any other law of general application governing the operation of that scheme or trust RAC,
  • the duties and responsibilities of trustees generally, and
  • such other matters relevant to the effective management of a scheme or trust RAC, as the case requires, as are prescribed.

Trustee training

Section 28 of the Social Welfare and Pensions 2008 Act provides for amendments to the Pensions Act in relation to trustee training as recommended by the “Report of The Pensions Board to The Minister for Social and Family Affairs on Trusteeship’’. As a result of the amendments employers are required to arrange trustee training for each trustee within six months of their appointment and at least every two years thereafter. Where a person is already a trustee at the time the legislation commences, there is no requirement on the trustee to undertake training within 6 months. The ongoing two year training requirements does however apply. Where an employer breaches the obligation to provide regular training it may be prosecuted.  Employers are not under an obligation to provide training to professional trustees and pensioneer trustees, it is expected that such trustees will undertake regular training to keep their skills current.

Where a trustee fails to undertake the required training, section 3A has been amended to allow the Authority to apply an on-the-spot-fine.

Trustees are required as a result of an amendment to section 54(1) to confirm in the Annual Report that they have undertaken the required training and to confirm that they have access to the latest addition of the Authority’s Trustee Handbook.  The training undertaken must cover the Pensions Act and regulations, duties and responsibilities of trustees both under the Act and at common law and effective management of a scheme or trust RAC.

Employers can provide training through trustee training courses.  A list of approved trustee training courses is available on www.pensionsauthority.ie under Trustee/Registered Administrators/Trustee Training.

This site is designed to provide a free and accessible trustee training facility.