Our Services

A wealth of experience in Governance, Management, Investments, Actuarial, Administration  and more.

The role of pension scheme trustee is diverse and multifaceted. ILP provides a comprehensive array of trustee services to ensure that schemes comply with statutory obligations and are run as efficiently as possible.

The following services are provided by ILP:

1. Carrying out the duties and responsibilities of a trustee

  • Acting in the best interests of the beneficiaries of the scheme.

  • Acting in accordance with the trust deed and rules of a scheme, trust law, the Pensions Act, 1990 and the Taxes Consolidation Act, 1997 and any guidelines issued by the Pensions Authority.

  • Acting fairly as between beneficiaries.

  • Supervising delegated duties, e.g. supervising the registered administrator.

2. Reviewing the compliance of the scheme

  • In additional to the ongoing monitoring of the scheme, ILP will review an end of year compliance document prepared by the appointed registered administrator which includes the following information:
    • Confirmation that the registration of the scheme with the Pensions Authority is up to date and all fees paid
    • Confirmation that the investment managers have been reviewed
    • Confirmation that a statement of risks has been disclosed
    • A review of compliance with the disclosure regulations in relation to benefit statements, pension adjustment orders and option letters
    • Details of any changes in benefits and confirmation that these have been reflected in amending deeds and revised and that members have been notified in accordance with timelines set out in the disclosure regulations
    • A review of the Statement of Investment Policy Principles (where a SIPP is required for the scheme)
    • Confirmation that the payment of contributions to the scheme is compliance with the requirements of the Pensions Act
    • Confirmation that a review of the life assurance contracts has taken place and that all members are covered for the benefit they are entitled to under the rules of the scheme
    • Confirmation that the provision of the family law acts have been complied with
    • Reviewing the trustee annual report and once signed seeking confirmation that the trustee annual report has been made available to members and to other persons in accordance with the requirements of the disclosure regulations.

3. Reviewing the investments

  • Reviewing the investment choices available to members in respect of any defined contribution benefits, especially the default option, to ensure that it continues to be in line with best practice including IAPF and Pensions Authority guidelines.

4. Exercising discretions in accordance with the scheme rules

  • Where the trustee has discretion under the rules of the scheme regarding whom to pay the death benefit to in the event of a member’s death in service, then prior to the exercise of this discretion, ILP will seek a report from the registered administrator which includes details of any wishes letter completed by the member and details of dependants of the deceased.

5. Meeting with employer

  • ILP’s standard service includes one meeting with an employer and administrator, at the employer’s request, in any scheme year.

6. Approving scheme documentation for signing

  • Approving the trust deed and rules and any amending deeds for signing.
  • Reviewing the members’ explanatory documentation.
  • Liaising with the registered administrator and the employer to secure any updates that ILP consider necessary.