Pension fund legislation published
The legislation facilitating the transfer of the pension funds of the TCD, UCD, UCC, NUIG and NUIM pension schemes and the NUI General Scheme to the National Pension Reserve Fund (NPRF) was published on Friday last, 12 June. The legislation is part of the Financial Measures (Miscellaneous Provisions) Bill, 2009 (Number 37 of 2009) and is available here (Members only). Part 3 (Sections 3 to 14) and Schedule 1 are the pieces of the Bill pertinent to the university (and other) pension funds.
The transfer of these pension funds has been under discussion for a number of years and legislation was promised in the last mini-Budget. It is IFUT’s understanding that the Government wishes to “fast-track” the bill and have it passed by the Oireachtas and signed into law before the end of June.