The Pensions Board has published its long-awaited funding guidelines and has re-introduced submission deadlines for defined benefit schemes. These guidelines expand on the provisions of the recent Social Welfare and Pensions Act 2012 and in effect ‘switch back on’ the statutory funding régime that has been largely suspended since 2008.
The key elements of the new rules are:
To request a copy of Mercer's 'New Funding Rules for Defined Benefit Schemes' where we summarise the main points of the new rules and comment on some of the implications for pension schemes please contact our Marketing Department.
Listen to Mercer experts Sean O'Donovan (Partner) and David O'Sullivan (Principal) discuss the implications for Defined Benefit pension schemes in light of new funding standard guidelines. The session is Chaired by Michael Walsh, Senior Partner and leader of Mercer's Retirement, Risk and Finance business in Ireland.