Administration issues from the Regulator Mary Hutch Head of - - PowerPoint PPT Presentation

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administration issues from the regulator mary hutch head

Administration issues from the Regulator Mary Hutch Head of - - PowerPoint PPT Presentation

Apr 06, 2023 548 likes •680 views

Administration issues from the Regulator Mary Hutch Head of Regulation The Pensions Board IAPF DC Conference: 12 th May 2011 www.iapf.ie Administration issues from the Regulator Trustee Challenges - Administration - Investment -

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Administration issues from the Regulator Mary Hutch Head of Regulation The Pensions Board

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Administration issues from the Regulator Trustee Challenges

Administration
Investment
Communication
Cost
Regulation

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Administration

– Obligations of DC trustees – Administration of DC schemes is complex – Make sure your RAs are doing their job

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Administration

– Have you appointed RAs – ‘Orphan’ schemes – RA compliance and competence – Causes of concern escalate

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Administration

– Level of engagement with RAs – Is there a Service Level Agreement in place – On-site inspections of RAs intensifying

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Investment

– Appropriate investment choices for members – Understandable communications – Appropriate default investment choice

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Communication

– Disclosing or communicating – User friendly documents – Leaving service options letters an issue – Log complaints – Quality not quantity

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Cost

– Charges significantly effect benefits – Members’ best interests? – Know what the charges are – Actively manage

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Regulation

– Full compliance – Legislation proactively supervised – Risk priorities

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Trustee Challenge - Regulation

– Fines notices issued to 76 trustees in 2010 – Don’t ‘sleepwalk’ your way into fines and sanctions – Avail of Board’s trustee support services – Delegate don’t abdicate

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IAPF DC Conference: 12th May 2011 www.iapf.ie

Administration issues from the Regulator

Questions & Answers