Co. Tipp Chamber Offering Support On Executive Pension Plans

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County Tipperary Chamber is offering to support to business owners in respect of Executive Pension Plans.

Last week the Pensions Authority announced significant changes to the rules governing Executive Pension Plans.

These changes introduced new requirements for Executive Pension Plans set up on or after 22 April 2021.

Tipperary Chamber says business owners need to consider an auto-enrolment retirement savings system and what it will mean for the business and their employees when introduced.

Businesses also have until the end of the year to ensure that a company pension scheme fully complies with the latest new European Directive.

While this Directive aims to improve the governance and communication standards of workplace pension schemes, it places several new requirements on pension scheme trustees.

Businesses are encouraged to seek professional advice now to ensure that pension scheme trustees are aware of the necessary changes.