Submissions

Here you will find submissions made by us on specific topics to Government and the Pensions Authority. These might be in response to specific consultation exercises or on our own initiative.

Letter to the Pensions Boards RE Review of the Funding StandardIAPF18.04.2006The Pensions Board is reviewing the funding standard in the light of the continuing difficulties being experienced by many defined benefit schemes. The Board sought detailed responses from representative organisations about specific suggested changes to the current standard. IAPF responded to the Pensions Board by letter on 18 April 2006. In its submission, IAPF recommended:

That the funding standard (FS) be amended to represent the accrued valuation of the scheme's technical provisions
Proposed the establishment of a State Annuity Fund
IAPF believe that any Funding Proposal should remain in place for a period of 3 years following approval by the Pensions Board. IAPF supports the disclosure of information to pension scheme members on the scheme's funding position each year but it should not require a revised proposal to be prepared
Introduction of an ARF option to pensioners in the event of insolvent wind up
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