Stand up for pensions equality
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Women have to make sure they are not outflanked when it comes to getting a fair deal, writes Eithne Dunne
https://www.thetimes.co.uk/article/female-workers-in-ireland-must-stand-up-for-pension-equality-f8zh9fhgc
Women in Ireland start paying into their pension at about the same age as men, and direct, on average, the same proportion (11%) of their salary into it. Yet it is projected that, on retirement, their pots will be about €120,000 smaller than those of their male counterparts.
According… Continue reading →
Auto-enrolment Retirement Savings System Ireland
Posted onAuto-enrolment Ireland: Cutting through the noise to explain what mattersIreland’s pension landscape is undergoing significant change with the introduction of auto-enrolment (AE), a new retirement savings plan for the workforce of Ireland. Its aim is to make it easier to save for retirement and easier for employers to offer their employees a pension plan. It has the potential to help people maintain a higher standard of living in retirement and has been a key focus for Irish Life since its… Continue reading →
Move to reduce cheque payments
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At present almost 95% of claim payments made by our Irish Life DC Corporate Business Benefits team are made by Electronic Fund Transfer (EFT). These claim payments relate to Defined Contribution Occupational Pension Schemes, PRB and PRSA Schemes. The claims encompass payments to members, employers, brokers and consultants, trustees and other pension providers under the above Pension arrangements.
We currently ask all Defined Contribution, PRSA and PRB member claimants to confirm their bank… Continue reading →
IORP II: Irish Life appeals to Government to avoid excessive bureaucracy and costs
Posted onIrish Life has appealed to the Government to avoid excessive administrative bureaucracy and costs on smaller pensions schemes.
Ireland set to impose significantly more regulation and cost than other European countries
Oireachtas Committee to support a cost benefit analysis on implementation of IORPS II
November 7, 2019: Irish Life has appealed to the Government to avoid imposing excessive administrative bureaucracy and costs on over 152,000 members of smaller pensions schemes. If imposed, the… Continue reading →
2024 Gender Pension Parity Report
Posted onWhy does research show women need to work 8 years longer than men? – 2024 Gender Pension Parity ReportDo you ever dream about life after work? A time to explore new opportunities and have a bit more time to do the things you love. For some, the dream could be travelling the world or exploring new passions, for others it could simply be about spending more time with friends and family. Whatever the dream looks like, life after work should be something to look forward to for everyone. So why… Continue reading →
EMPOWER Personal Lifestyle Strategy (PLS) is changing
Posted onLast December we announced changes we were making to our core PLS offering on our Defined Contribution) DC, (Personal Retirement Savings Account) PRSA and Personal Retirement Bonds (PRB) products. The changes outlined were implemented at the 1 April 2019.
A core strength of our EMPOWER Personal Lifestyle Strategy (PLS) is the regular review process. This regular review is undertaken to ensure that PLS stays up to date and relevant. This review will take account of changes to the… Continue reading →
Report Launch: A Guide to DC Plan Contribution Structures
Posted onWe are launching a new report analysing how DC plans across the country are structured and what they are offering for members.
This report takes a closer look at the following topics:
How do DC contributions work and what factors combine to create the contribution structures?
The most prevalent contribution structures across the DC plans that Irish Life administer… Continue reading →
Irish Life Pension Report
Posted onThe Difference in a Decade: Irish Life data shows potential pension gains with 10-year head start
Read the new pension report from Irish Life which shows Irish Life DC pension data and research findings.
Irish Life pension data shows the current age starting a company pension plan is 37 with 11.4% contribution rate1 on average
Potential boost in retirement income of 50%-120% if people started pension 10 years earlier*
“Younger for longer” trend emerging; average age of getting… Continue reading →
Irish Life to acquire a strategic shareholding in Invesco Ltd.
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Irish Life Group Limited announced that it has reached an agreement to acquire a strategic shareholding in Invesco Limited, Ireland’s largest Irish-owned independent financial consultancy. Terms of the transaction were not disclosed.
Invesco specialises in employee benefit consultancy and private wealth management and has over 27 years’ experience advising companies and personal investors. Based in Sandyford, Dublin and Lapp’s Quay, Cork, Invesco employs 125… Continue reading →
Our TILDA partnership helps us understand our older adults.
Posted onThrough Irish Life’s efforts in preparing our members for retirement we have extended our partnership with TILDA whose overarching aim is to "make Ireland the best place in the world to grow old".
What is TILDA?
TILDA collects information on a wide range of lifestyle aspects including: health, economic and social circumstances from people aged 50 and over. Through the latest wave of data collection we now know many things about the older Irish generation.
Irish Life joined TILDA as a founding… Continue reading →
