1. Pensions Authority Seminar
Wednesday 27 January 2016
 The Marker Hotel
Grand Canal Dock
Dublin 2

2. The Pensions Authority’s agenda
Brendan Kennedy
Pensions Regulator

3. Reform and simplification of pensions landscape
Mary Hutch Head of Policy The Pensions Authority

4. Agenda Background to reform DC Codes of governance
Trustee qualifications
Model Disclosure Documents
Pensions simplification

5. Background to reform Problems with pensions system Charges
Too many schemes
Too many trustees
Multiple pension products
Consultation process

6. Trustee Qualifications
Consultation outcome
Minimum relevant qualification
Meetings with educational providers
Consultation process
30 submissions analysed – synopsis published

7. Model Disclosure Documents
Consultation outcome
Need for more simplified information
Working group established
7 model documents produced to date
SIPPs pending
Disclosure regulations need to be reviewed

8. Pensions Simplification
Top-down approach
Reduce number of pension vehicles
Harmonise tax rules
Review of Part X

9. Next steps Development of reform proposals through 2016
Further consultation
All proposals subject to Government decision
If implemented, careful transition essential

10. Thanks for listening

11. The Pensions Authority’s Governance Agenda
Grace Guy
Head of Legal
27 January 2016

12. The Pensions Authority Established by the Pensions Act, 1990
Supervision, regulation and enforcement
Information and guidance
Advice

13. We supervise
200,000 plus trustees - connected to 160,000 (approx.) schemes
142 Registered Administrators
131 PRSA products managed by 14 PRSA providers

14. Pension assets under management
€90
billion
(circa)

15. Governance Financial Regulation/ IORPS II Authority focus:
- Regulatory priorities
- Inspections/audits

16. Governance and Trusteeship
Pensions Act and regulations
Trustees should:
know more than their members,
have enough time and commitment
to do the job properly, and
ask the right questions.

17. DC Codes Education/Information Best Practice Recommendations
Status of DC Codes
Future Developments

18. First Set of Codes DC Codes published today:
Governance plan of action;
Trustee meetings; and
Managing conflicts of interest

19. 1. Governance Plan of Action
Identify actions
Timeframes
Procedures
Ownership
Monitor progress

20. 2. Trustee Meetings Frequency Timing Agenda Preparation Decisions
Minutes

21. 3. Conflicts of Interest Identification Management Monitoring
Conflicts register and policy
Legal advice

22. Conclusion
Good governance and member outcomes are inextricably linked. Governance is a key feature of Authority’s agenda.

23. Thanks for listening

24. Pensions Authority Seminar
Questions and Answers