Ireland’s Pensions Authority has launched a scheme survey for a selection of defined benefit (DB) and defined contribution (DC) schemes.

The purpose of the survey, which was launched on Thursday, 9 June, is to assess schemes’ progress since the original survey on IORP II preparedness, which was conducted in 2020. The IORP II Directive was transposed into law in April 2021, over two years after the original deadline set by the European Union.

The previous survey of 100 DB and DC trustees found that there was a reluctance to make changes to meet requirements until after the directive is transposed into law.

“There is widespread belief amongst those who responded that new legislation will increase cost, time and resources and proportionality of legislation is a concern for schemes of all sizes. The survey findings also highlighted that further guidance from the Pensions Authority is awaited by trustees on many areas covered by the Directive,” the previous survey found.

The authority said it will collect survey data anonymously using a digital survey platform and results of the new survey will be published in September.

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