Proposed amendment to protect members of pension schemes not proceeding

In recent days, an amendment to the Social Welfare Bill 2017 was proposed, the intention of which was to prevent measures being taken by solvent companies which would result in the wind-up of defined benefit pension schemes unless the pension scheme was at least 90% funded on a minimum funding standard basis.

The amendment was ruled out of order and separately the Minister for Social Protection questioned the wording of the proposed amendment and its potential effectiveness had it been passed.

For more information, please contact John O’Connell, Trident Consulting

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