Irish Life Investment Managers - winners at the Irish Pension Awards 2019
Posted onILIM & Setanta are winners!
Big congratulations to our colleagues in ILIM for winning the Investment Manager of the Year award, as well as Setanta who won the Equity Manager of the Year award at the Irish Pensions Awards.
Move to reduce cheque payments
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At present almost 95% of claim payments made by our Irish Life DC Corporate Business Benefits team are made by Electronic Fund Transfer (EFT). These claim payments relate to Defined Contribution Occupational Pension Schemes, PRB and PRSA Schemes. The claims encompass payments to members, employers, brokers and consultants, trustees and other pension providers under the above Pension arrangements.
We currently ask all Defined Contribution, PRSA and PRB member claimants to confirm their bank… Continue reading →
IORP II: Irish Life appeals to Government to avoid excessive bureaucracy and costs
Posted onIrish Life has appealed to the Government to avoid excessive administrative bureaucracy and costs on smaller pensions schemes.
Ireland set to impose significantly more regulation and cost than other European countries
Oireachtas Committee to support a cost benefit analysis on implementation of IORPS II
November 7, 2019: Irish Life has appealed to the Government to avoid imposing excessive administrative bureaucracy and costs on over 152,000 members of smaller pensions schemes. If imposed, the… Continue reading →
Registered Administrator: Registrations completed for September 2019
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The Pensions Act requires every pension Trust to appoint a Registered Administrator for their schemes and for the Registered Administrator to re-register annually.
Irish Life can confirm that we completed the Registration with the Pension Authority in September 2019 for the schemes that we will be the Registered Administrator for.
Find out more
For more details about the role of a Registered Administrator and what the Trustee, Employers need to do to ensure everyone… Continue reading →
Pension Parity Report
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Women in Ireland likely to retire poorer than men
Irish Life report highlights Ireland’s ‘gender pension gap’
At retirement age, Irish women likely to have a pension pot worth €120,000 less than men
1 October, 2019 - A report published today by Irish Life into the value of pensions being accumulated by Irish women versus men, has found that a significant gender pension gap exists amongst Irish workers.
The Irish Life research, titled In Search of Pension Parity: Ireland’s Gender… Continue reading →
Irish Life DC Annual Benefit Statements
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We are delighted to announce some enhancements to our DC Annual Benefit Statements from April 2019.
We continuously research with our customers regarding communication material and have implemented the following change to our benefits statements to meet their needs.
Our benefit statement is being changed to a reader friendly A5 booklet format which is more in keeping with other documentation that our customers receive.
The content of the benefit statement is… Continue reading →
EMPOWER Personal Lifestyle Strategy (PLS) is changing
Posted onLast December we announced changes we were making to our core PLS offering on our Defined Contribution) DC, (Personal Retirement Savings Account) PRSA and Personal Retirement Bonds (PRB) products. The changes outlined were implemented at the 1 April 2019.
A core strength of our EMPOWER Personal Lifestyle Strategy (PLS) is the regular review process. This regular review is undertaken to ensure that PLS stays up to date and relevant. This review will take account of changes to the… Continue reading →
Report Launch: A Guide to DC Plan Contribution Structures
Posted onWe are launching a new report analysing how DC plans across the country are structured and what they are offering for members.
This report takes a closer look at the following topics:
How do DC contributions work and what factors combine to create the contribution structures?
The most prevalent contribution structures across the DC plans that Irish Life administer… Continue reading →
Irish Life Staff Charities raised €360,000 in 2018
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We are delighted to announce that Irish Life Staff Charities donated an incredible total of €360,000 to two Irish charities. The funds were raised throughout 2018 by employees through various fundraising initiatives undertaken and the amount was then matched by Irish Life to reach this final total.
Each year, the Irish Life Staff Charities committee shortlists a number of Irish charities to receive donations collected throughout the year and the final two are selected by Irish… Continue reading →
Irish Life Pension Report
Posted onThe Difference in a Decade: Irish Life data shows potential pension gains with 10-year head start
Read the new pension report from Irish Life which shows Irish Life DC pension data and research findings.
Irish Life pension data shows the current age starting a company pension plan is 37 with 11.4% contribution rate1 on average
Potential boost in retirement income of 50%-120% if people started pension 10 years earlier*
“Younger for longer” trend emerging; average age of getting… Continue reading →
