Ireland’s Pensions Authority has provided an update on the Digital Operational Resilience Act (DORA) for pension schemes.

The EU regulation will come into force on 17 January 2025 and aims to strengthen digital operational resilience in the financial sector. As part of the regulation harmonised requirements for financial entities on the use of ICT services will be introduced.

In November 2024, the Pensions Authority created a dedicated website for its information on DORA for trustees.

It has now updated its DORA Q&A document to include information on obtaining a legal entity identifier (LEI).

A LEI is a 20-digit, alphanumeric code that uniquely identifies a financial entity. The LEI of a financial entity is a required field in the register of information (ROI) required under article 28(3) of DORA.

In addition, an LEI is also indicated as a required field in the templates for major ICT-related incident reporting and for voluntary reports of significant cyber threats under article 19 of DORA.

Pension schemes subject to DORA may obtain an LEI from any LEI-issuing organisation listed for Ireland, which is available on the Pensions Authority’s DORA website.

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