Occupational Pension Schemes (Revaluation) Regulations, 2015

The statutory revaluation order for 2014 is 0.2%, announced on 30 January 2015 “I, JOAN BURTON T.D., Minister for Social Protection, in exercise of the powers conferred on me by sections 5 and 33 (as amended by section 21 of the Pensions (Amendment) Act, 2002 (No. 18 of 2002)) of the Pensions Act, 1990 (No. […]

Amendment to Section 50/50B regulations

On 22 January 2015, the Minister for Social Protection signed the Occupational Pension Schemes (Sections 50 and 50B) (Amendment) Regulations, 2015 (http://www.irishstatutebook.ie/pdf/2015/en.si.2015.0024.pdf). This short statutory instrument amends the Occupational Pension Schemes (Sections 50 and 50B) Regulations, 2014 (http://www.irishstatutebook.ie/pdf/2014/en.si.2014.0392.pdf). A new definition of “representative group” is introduced as a body representing at least 50% of deferred […]

Waterford Crystal pension settlement approved by Unite members

On 13 December 2014, a meeting of Unite members in Waterford approved a deal brokered by Kieran Mulvey of the Labour Relations Commission which resolves the long-running pension dispute. The deal provides benefits for approximately 1,770 persons who were active / deferred members of the Waterford Crystal Factory and Staff Schemes as at 31 March […]

Waterford Crystal pensions deal approved by Cabinet

On 9 December 2014, the Cabinet approved a deal aimed at ending the Waterford Crystal pension dispute. The deal must be accepted by members of Unite at a meeting to be held on 13 December 2014. The settlement applies to active and deferred members (or their personal representatives in respect of deceased members) who held […]

Social Welfare and Pensions (No 2) Act 2013

This Act http://www.oireachtas.ie/documents/bills28/acts/2013/a4913.pdf was enacted on 25 December 2013! It changes the priority order on wind-up of a defined benefit pension scheme. The terms depend on whether the employer is solvent or insolvent and in the event that both the pension scheme and employer are insolvent, the Act specifies the basis on which the Minister for Finance may […]