Let's talk

LCP Radar Update: Pensions Authority publishes information on the annual compliance statement

Pensions & benefits

2nd September 2021 - The Pensions Authority has published information for trustees on the annual compliance statement, a new requirement under the Pensions Act, 1990. 

The Act now requires trustees to prepare an annual compliance statement (ACS) not later than 31 January each year. The statement must be certified for accuracy and completeness by at least two trustees (or two directors, if for a trustee company).

The form of the 2021 statement will be published in November 2021 and the Pensions Authority has said that it expects trustees to prepare the 2021 statement by 31 January 2022. Trustees will, however, not be required to submit the 2021 statement, but make it available to the Authority on request.

In 2023, trustees will be required to submit the 2022 statement by the end of February 2023. Trustees will be provided with further details on how to make their 2022 ACS submission during 2022.

Explore the update

Click here

Note of Work

This note is not, nor is it intended to be, a comprehensive guide to the topics discussed. The note should not be relied upon as advice, nor taken as an authoritative statement of the law.

Lane Clark & Peacock Ireland Limited (“LCP”) can take no responsibility nor accept any liability for your use of material in this document and no decisions should be taken as a result of this document.

All rights to this document are reserved to Lane Clark & Peacock Ireland Limited. This document may be reproduced in whole or in part, provided prominent acknowledgement of the source is given.

We accept no liability to anyone to whom this document has been provided (with or without our consent).