Governance and Support

Pension Scheme Secretarial

The primary responsibility of a professional scheme secretary in Ireland is to ensure the efficient and compliant administration of occupational pension schemes. This includes maintaining accurate records, organising trustee meetings and also facilitating effective communication between trustees, members and regulatory bodies.

The role of the scheme secretary has become increasingly important with the introduction of the IORP II Directive. This has strengthened the governance requirements for pension schemes in Ireland. The scheme secretary plays a crucial part in implementing and monitoring the scheme's compliance with the new IORP II rules, which focus on areas such as risk management, internal controls, and the oversight of key functions.

Under IORP II, the scheme secretary is expected to have a comprehensive understanding of the scheme’s governance structure, decision-making processes, and the roles and responsibilities of trustees and other service providers. This knowledge is essential in supporting the trustees to carry out their fiduciary duties – and also in ensuring the scheme operates in the best interests of the members.

The scheme secretary also plays a pivotal role in establishing and maintaining effective communication between the trustees, the scheme's administration team, and the scheme's members. This includes providing timely and accurate information to members, as well as facilitating their engagement and feedback.

As custodian of the scheme’s records and documentation, the scheme secretary is responsible for the secure storage and retrieval of all relevant information. They also ensure compliance with data protection regulations, support any regulatory audits and deal with enquiries. 

Assisting Pension Governance and Total Compensation Committees

As professional trustees, we bring wide-ranging expertise in the management of pension fund, risk benefit and governance. We use our expertise to help ensure the long-term stability and security of your employees’ financial wellbeing. Our experience can add significant value to both Pension Governance and Total Compensation committees.

We provide impartial advice and support to committees to help them in maintaining robust oversight and risk management of your employee benefits programmes. Our proactive approach to governance includes regular reporting, compliance monitoring, and working closely with all relevant parties to ensure the highest standards of transparency and accountability.

Partnering with a professional trustee, such as ITL, can provide your organisation with greater peace of mind and enhanced employee satisfaction. It can also give you confidence that your pension and risk benefits programmes are being managed prudently and in the best interests of your workforce. 

Please contact our team of pension trustee experts for further information.