New EU directive on pensions formally signed into Irish law

The IORP II directive’s aims include enhancing pension scheme governance and improving outcomes for members including the removal of obstacles for cross-border provision of services and transfers

2nd October, 2021
New EU directive on pensions formally signed into Irish law
Brendan Kennedy, the Pensions Regulator: ‘compliance will involve very significant changes’. Picture: Maura Hickey

IORP II is the biggest change in the occupational pensions regulatory landscape in this country for a generation. The EU directive sets new pensions standards to be passed into law by each EU member state.

The Minister for Social Protection, Heather Humphreys TD, has formally signed the European Union (Occupational Pension Schemes) Regulations 2021 into Irish law.

Minister Humphries said: “The IORP II directive is a substantial directive with many of the provisions supporting positive reform...

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