We currently ask all DC, PRSA and PRB member claimants to confirm their bank Account details at the point of claim to enable payments by EFT. From 1 January 2020 where a payment is to be made via an Employer or Trustee we will also ask for bank account details to facilitate EFT payment rather than cheque.

Irish Life has appealed to the Government to avoid imposing excessive administrative bureaucracy and costs on over 152,000 members of smaller pensions schemes. If imposed, the additional costs could wipe out the investment returns for thousands of schemes whose members are sole traders or employees of small enterprises.

We are closing some Fidelity funds in November 2019 and we automatically switch policyholder investments and any future payments from these funds into the Fidelity World Fund.

The Pensions Act requires every pension Trust to appoint a Registered Administrator for their schemes and for the Registered Administrator to re-register annually. 

We can confirm that we completed the Registration with the Pension Authority in September 2019 for the schemes that we will be the Registered Administrator for.