Section 28 of the Social Welfare and Pensions 2008 Act provides for amendments to the Pensions Act in relation to trustee training as recommended by the “Report of The Pensions Board to The Minister for Social and Family Affairs on Trusteeship’’. As a result of the amendments employers are required to arrange trustee training for each trustee within six months of their appointment and at least every two years thereafter. Where a person is already a trustee at the time the legislation commences, there is no requirement on the trustee to undertake training within 6 months. The ongoing two year training requirements does however apply. Where an employer breaches the obligation to provide regular training it may be prosecuted. Employers are not under an obligation to provide training to professional trustees and pensioneer trustees, it is expected that such trustees will undertake regular training to keep their skills current.
Where a trustee fails to undertake the required training, section 3A has been amended to allow the Board to apply an on-the-spot-fine.
Trustees are required as a result of an amendment to section 54(1) to confirm in the Annual Report that they have undertaken the required training and to confirm that they have access to the latest addition of the Board’s Trustee Handbook. The training undertaken must cover the Pensions Act and regulations, duties and responsibilities of trustees both under the Act and at common law and effective management of a scheme or trust RAC.
Employers can provide training through trustee training courses. A list of approved trustee training courses is available on the Pensions Board website at www.pensionsboard.ie under Trustee Information/Trustee Training Courses.
This site is designed to provide a free and accessible trustee training facility.