Ireland’s Pensions Authority publishes information on ACS

Ireland’s Pensions Authority has published information on the annual compliance statement (ACS) for 2023 that is provided for under the Pensions Act.

Section 26T of the Pensions Act requires trustees to prepare an ACS no later than 31 January each year for the preceding year for the purposes of prudential supervision.

The ACS must be certified for accuracy and completeness by at least two trustees or in the case of a corporate trustee by at least two directors.

“Trustees will not be required to submit completed ACS forms to the authority until further notice unless requested to do so as part of the authority’s work,” it stated.

However, it said it will carry out sample checks and audits of trustees’ compliance with this obligation as part of its ongoing supervisory activity.

“Trustees are reminded that a failure to prepare an ACS may amount to an offence liable to a prosecution,” the authority added.

The form to be used for the 2023 ACS is available on the Pensions Authority website and needs to be completed by 31 January 2024.

Share Story:

Recent Stories

Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.

Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows