Pension Trustee Training: Having trust in the trustees

Being a trustee of a pension fund is a very serious responsibility, according to Pauline Killeen, senior manager in client services at Irish Life. "Trustees can be fined and prosecuted by the Pensi

13th November, 2011
Pauline Killeen, senior manager in client services at Irish Life.

Being a trustee of a pension fund is a very serious responsibility, according to Pauline Killeen, senior manager in client services at Irish Life.

"Trustees can be fined and prosecuted by the Pensions Board if they contravene specified provisions of the Pensions Act. The fine is €2,000 per trustee per offence. Trustees can also be sued," said Killeen.

"Those who are trustees in their own name are personally liable, and a trustee's liability is unlimited...

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