Code of Practice on Longer Working

This Order (Code of Practice on Longer Working – Order made under the Industrial Relations Act 1990), signed on 20 December 2017 and made under the Industrial Relations Act 1990, declares that the draft code of practice set out in the Schedule to this Order is a code of practice for the purposes of the Industrial Relations […]

Recent US Stock Market return modest for Euro investors

From 1st January 2017 to 8th February 2018, a period of just over 13 months, the Dow Jones Industrial Average (just one of the measures of the US stock market) was up an impressive 20.7% in local currency. This is despite two very weak days of trading over the last week, weak enough to be […]

Actuaries’ submission to the Law Reform Commission

Pensions Topic We [The Society of Actuaries in Ireland] recommend that consideration be given to developing defined contribution pension arrangements which could be used both for the accumulation (pay-in) and decumulation (pay-out) stage of pensions. These could be individual contracts perhaps based on the existing Personal Retirement Savings Accounts (PRSAs) as provided under Part X […]

Pan-European Personal Pension (PEPP)

The European Commission announced on 29 June 2017 its intention to create a new class of pension product with the aim of providing European consumers with more choice when saving for retirement. This is an interesting development especially when you consider the recent proposals from the Pensions Authority on the reform and simplification of private […]

Irish Government Budget 2018 – the main points

The following are the main points emerging from Minister Paschal Donohoe’s 2018 Budget: Standard rate income tax band increased by €750 for 2018, giving a tax saving in 2018 of €150 for higher rate taxpayers. Earned income tax credit for the self-employed and proprietary directors increased by €200 to €1,150 for 2018. The 2.5% / […]

UK investment matters under investigation following FCA referral

Last week, the Financial Conduct Authority (FCA) in the UK referred the Investment Consultancy and Fiduciary Management* businesses to the Competition and Market Authority. *Where the investment management and investment consultancy are provided by the same firm. This action followed an investigation by the FCA which gave rise to a number of concerns including that: Trustees have […]

Social Welfare Bill 2017 – defined benefit pension measures

The Bill also introduces a number of measures which respond to the ongoing difficulties in Defined Benefit (DB) Occupational Pension schemes.  Firstly, it requires employers who sponsor DB schemes – whether or not those schemes are in deficit – to give 12 months’ notice of their intention to cease contributions. For a scheme in deficit, […]

OECD view on financial markets outlook

Interesting 2016 OECD report “The global economy is caught between two major headwinds: the reversal of the investment-heavy commodity supercycle; and the “L-shaped” recovery in advanced economies caused by the aftermath of the financial crisis and the interaction of re-regulation with low and negative interest rates. The zero and even negative time value given to […]