S.I. No 137 of 2007.


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S.I. 137 of 2007

OCCUPATIONAL PENSION SCHEMES (REVIEW OF ACTUARIAL WORK) REGULATIONS, 2007

 

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation.)

Section 51A of the Pensions Act 1990 (inserted by section 42 of the Social Welfare Law Reform and Pensions Act 2006), provides that the Minister may make regulations requiring the work carried out by a scheme Actuary to be reviewed to ensure that it complies with the provisions of the Pensions Act and any professional guidance issued by the Society of Actuaries in Ireland. Section 51A further provides that such professional guidance must contain provisions relating to certain matters including the appointment of a reviewing actuary, the frequency of reviews, and the timescale for reviews.

These Regulations now bring into effect, from the 2nd April 2007, the requirement that an actuary to a scheme have his or her actuarial work reviewed for compliance with the Pensions Act and in accordance with the professional guidance issued by the Society of Actuaries in Ireland.


Last modified:25/09/2008
 

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