Training Requirements for Pension Trustees

The Social Welfare and Pensions Act 2008 obliges employers to arrange training for pension scheme trustees in relation to the Pensions Act and other laws governing the operation of the scheme, the duties and responsibilities of trustees and other matters relevant to the effective management of the scheme.  This requirement came into force on 1 February 2010.

• Existing Trustees as at 1 February 2010 will have to complete training before 1 February 2012 and at least every two years thereafter.

• Newly appointed Trustees are now required to receive training within six months of their appointment and at least every two years thereafter.

• Where an organization acts as the Trustee, each and every director must partake in Trustee Training.

• Employers are not required to arrange training for professional trustees or pensioneer trustees.

Appropriate Trustee Training is taken as attendance at an approved Trustee Trainer’s seminar (generally half or full day) or completion of the online elearning tool on the Pension Board website (estimated to take 9 hours in total). Appropriate training is described by the Board as training on:

• the Pensions Act, the regulations made under it and any other law of general application governing the operation of their scheme or trust RAC; and

• the duties and responsibilities of trustees generally.

The Pensions Board also supports training for trustees in the following ways:

• through an e-learning facility for trustees which is available free of charge and can be accessed through the Pensions Board website; or

• through an approved trustee training course and a list of courses is available on the Board's website.

An employer who breaches its obligation to provide appropriate training may be prosecuted.  Where a trustee is offered training by the sponsoring employer and fails to attend, he/she may incur an on the spot fine from the Pensions Board of €2,000 per offence.

Acumen & Trust Limited provides trustee training. In June this year, we held two approved Trustee Training courses in the Aviva corporate box in the Aviva Stadium. We will be delivering further courses in autumn; if you are interested in attending our upcoming Trustee Training course, please contact Des O'Sullivan, who will keep you updated with dates and options.

We suggest it is a good opportunity for employers to revisit the trustee structure for a scheme. The options include:

1. Maintain the current Trustees and ensure all partake in training within the required timescales

2. Appoint a number of individuals to act as Trustees and arrange for them to attend suitable trustee training. There needs to be a minimum of two individuals but we normally recommend a minimum of three. If there are more than 50 members, the members can request representation among the trustees.

3. Appoint a Professional Trustee, either as sole trustee or a joint trustee.

Acumen & Trust Pension Trustees Limited is a professional trustee and can act as a sole or joint trustee.