What are the main trustee duties?
Trustee duties fall under two main headings. They are:
1. Duties under Trust Law.
And
2. Duties under the Pensions Acts.
Trustee training
Trustees are obliged to undertake trustee training at least every 2 years and new trustees must be trained within 6 months of being appointed. Make sure your training is up to date. Trustees who fail to undertake appropriate training may be subjected to an on-the-spot fine. Where an employer fails to organise for the trustees to receive appropriate training, the employer may be prosecuted.
The Pensions Authority has developed an e-learning facility for trustees which is free of charge and can be accessed at http://trusteetraining.pensionsauthority.ie/.
A list of approved trustee training courses is available on the Authority’s website at www.pensionsauthority.ie.
Please contact your Pension Consultant for more information on trustee training.
