The Pensions Board have implemented a new Trustee Training Scheme in relation to all one member executive pension schemes.

As of 1st February 2010 all pension scheme trustees are legally required to undergo appropriate trustee training. For new trustees (appointed after 1st February 2010), the initial training needs to be completed within six months of their appointment as trustees. For existing trustees (appointed before 1st February 2010), the initial training will need to be completed within a two year period (from 1st February 2010). All trustees are required to repeat their training every two years and the employer must arrange for all trustees to receive appropriate training

It is the responsibility of trustees to ensure that up to date records are kept in relation to the training undertaken by them.

Failure to comply with this obligation may result in an on-the-spot fine of €2000

If you have any queries please do not hesitate to contact us on 061-462024 or by email info@thomondam.com