The Pensions Act requires every pension Trust to appoint a Registered Administrator for their schemes and for the Registered Administrator to re-register annually with the Pensions Authority.
Irish Life will be completing the Registration with the Pensions Authority in September 2023 for the schemes that we will be the Registered Administrator for with respect to the production of annual benefit statements and maintaining of scheme records.
Every pension scheme established under a Trust must have an authorised Registered Administrator to maintain records necessary for the preparation of Annual Benefit Statements.
What Irish Life Corporate Business will do for you
If Irish Life Corporate Business is appointed as the Registered Administrator for Annual Benefit Statements we will:
- Register annually with the Pensions Authority to act as Registered Administrator on your behalf for the agreed functions unless otherwise advised.
- When we have received the relevant information, we will issue fully compliant Annual Benefit Statements within statutory deadlines.
What Trustees/Employers need to do!
Maintaining Scheme/Member Records
- Advise Irish Life Corporate Business of New Entrants or Leavers of the scheme in a timely manner.
- Submit full data yearly, within 3 months of the scheme renewal date to facilitate completion of the Annual Benefit Statements within statutory deadlines.
We can both meet our obligations without difficulty by working together. Once you provide us with accurate and timely data as outlined above, Irish Life Corporate Business will be in a position to ensure all your Registered Administrator requirements for completion of annual benefit statements are met.
