​Irish association questions new trustee qualification thresholds

first_imgThe Irish Association of Pension Funds (IAPF) has raised concerns about the impact of stricter trustee-qualification thresholds proposed by its regulator, after a consultation suggested trustees have at least two years of experience.The consultation, released by the Pensions Authority on 18 July ahead of detailed reform proposals to the government by the end of the year, seeks to bring Ireland’s oversight of trustee boards into line with the revised IORP Directive.It recommends that trustee boards possess a certain level of collective knowledge – including the potential for an entry threshold of two years’ experience for trustees lacking formal qualifications.Jerry Moriarty, chief executive of the IAPF, questioned how trustees would be able to gain the minimum two years of experience without completing formal qualifications, and noted that the cost and time commitment involved in completing the Irish Institute of Pension Managers’ courses could deter lay trustees. “Unless you do [the qualifications], or have two years’ experience, I don’t see how you can become a trustee,” Moriarty said. “And I don’t see how you can get two years’ experience without being a trustee with no experience at some stage.”However, Moriarty did welcome the Authority’s pledge it was not seeking to professionalise trusteeship, with the consultation saying lay trustees could bring “a significant amount to their role as a trustee”.Brendan Kennedy, who heads the Authority, told IPE the body had attempted to “strike a balance” when drafting its proposals.“We are aware of the fact lay trustees are a very important part of the system, and there would be a great deal of opposition to removing a place for lay trustees from our system,” he said. The IAPF has been among those resisting rigid requirements for trustees, warning a professionalisation of the field risked imposing “group think”. However, the proposals, as drafted, would not completely exclude lay trustees, as the new requirements would only apply to the trustee board as a collective.The Authority set out that a trustee board should consist of at least two members – one with at least two years’ experience, and a second member who had revised and “enhanced” qualifications.However, the emphasis on the requirements applying to a trustee board “on a collective basis” would likely allow for inexperienced lay trustees to join boards with two or more qualified trustees.Scheme ‘rationalisation’Kennedy admitted the new trustee-qualification requirements were, in part, to bring about “rationalisation” within the sector, which would not be required if a larger pool of trustees were available.“The trustee pool is finite, which may encourage consolidation – one of the reasons we want to see consolidation is because the trustee pool is finite,” he said, likening it to a “chicken and egg” situation.The Authority was also considering other measures to bring about scheme mergers in the defined contribution (DC) space, including how the industry reimburses the regulator’s running costs.Kennedy said it was always possible to see a shift to a fund-based fee, which would remove any disincentive to create large-scale DC master trusts.The Authority has said any such multi-employer trustees should expect to be subject to stricter requirements than individual company-sponsored funds, including minimum capital requirements, which would cover any costs associated with a scheme’s wind-up.last_img read more

Law banning abortion on babies that can feel pain takes effect in Ohio

first_imgLifeSiteNews 16 March 2017Family First Comment: “The 20-week ban … challenges the current national abortion standard and properly moves the legal needle from viability to the baby’s ability to feel pain,” he said. Similar laws are now in place in 16 states, including Alabama, Arkansas, Georgia, Idaho, Kansas, Kentucky, Louisiana, Nebraska, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Texas, West Virginia, and Wisconsin.”Time for New Zealand to be added to the list!The Pain-Capable Unborn Child Protection Act went into effect in Ohio on Tuesday, protecting pre-born children from 20 weeks’ gestation.The new state law was passed last year and signed by Ohio Gov. John Kasich in December. It restricts abortions at 20 weeks or greater or when the unborn child can feel pain.Physicians could face fourth-degree felony charges and up to 18 months in prison for violating the law. Women and the fathers of unborn babies also could sue doctors for performing illegal abortions.Ohio Right to Life president Michael Gonidakis explained that the new law changes the Roe v Wade “viability” standard for protection of the pre-born.“The 20-week ban … challenges the current national abortion standard and properly moves the legal needle from viability to the baby’s ability to feel pain,” he said.Similar laws are now in place in 16 states, including Alabama, Arkansas, Georgia, Idaho, Kansas, Kentucky, Louisiana, Nebraska, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Texas, West Virginia, and Wisconsin.READ MORE: https://www.lifesitenews.com/news/ohio-law-banning-abortion-after-20-weeks-takes-effectlast_img read more

LAGAN HARPS U18 GIRLS TEAM THROUGH TO ALL-IRELAND FINAL AFTER WIN OVER DOUGLAS HALL

first_imgLagan Harps U18 girls team recorded a stunning win over Douglas Hall.Lagan Harps FC News:Our girls u18 side turned in a great performance when they came from 2-1 down to beat Douglas Hall (Cork) 4-2 in the WFAI cup semi final played in Dublin. In a great team performance goals from Amy Boyd, Caoimhe Walsh and Amanda Callaghan(2) saw us through to the final. We are scheduled to meet Castlebar Celtic in the final at the end of February. Thanks to all who travelled to support the team. Our u14’s had a 5-0 win over Raphoe Town with goals from Darragh Rodgers(2), Enda Gallagher and Caoimhin Wheeler. Our u12B’s had a 2-1 win in Convoy with goals from Alex Parke and Joshua Callan. Our men’s team had no fixture. Next Sunday they are home to Kerrykeel. In our weekly lotto the numbers drawn were 7,11,15 and 16. Nicola Mc Grath had three numbers and son E50. Next week’s jackpot is e6275. The club extends sympathy to the Harkin and Cannon families on their recent bereavements.LAGAN HARPS U18 GIRLS TEAM THROUGH TO ALL-IRELAND FINAL AFTER WIN OVER DOUGLAS HALL was last modified: January 25th, 2016 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Lagan Harps FCsoccerSportU18slast_img read more