Terms & Conditions

IMPORTANT LEGAL NOTICE
Please read this information carefully. Access to this website can only be obtained by your agreement to abide by the Terms and Conditions set out below. Acceptance of these Terms and Conditions is taken as confirmation that you have understood and agreed to be bound by them. By proceeding further you will be deemed to have accepted them. The information published on the ILP Pension Trustees DAC website is provided as a convenience to visitors and should be used for information purposes only. It is subject to change without notice.

APPLICABLE LAW
This website is established by  ILP Pension Trustees DAC in the Republic of Ireland. Any use of it shall at all times be governed by the law of the Republic of Ireland and , in the vent of any dispute, all relevant parties shall irrevocably submit to the exclusive jurisdiction of the courts of the Republic of Ireland.

ILP Pension Trustees DAC, as a professional trustees bares duties and responsibilities under trust law, under other relevant legislation and under the Pensions Act, 1990, as amended.

Trust Law: The duties of pension scheme trustees under trust law include:

  • Administering the trust in accordance with trust law, all other law and the terms of the trust deed and rules
  • Acting in the best interests of beneficiaries
  • Acting fairly between beneficiaries
  • Acting prudently and diligently
  • Exercising care and utmost good faith in all trustee duties
  • Seeking professional advice as necessary
  • Supervising those to whom functions have been properly delegated
  • Not making personal profit from the trust
  • Being aware of possible conflicts of interest.

Pensions Act, 1990: the Pensions Act clearly sets out the duties and responsibilities of trustees. There is a high degree of overlap between trustees’ duties under the general principles of trust law and their duties as prescribed in the Pensions Act.

  • Trustee Training: With effect from February 2010, every trustee must undertake trustee training in accordance with the Pensions Act. However, an employer is not required to arrange appropriate training for a pensioner trustee or a professional trustee.
  • Registering the scheme: Trustees must register their scheme with the Pensions Authority and pay the annual fee. Schemes must be registered within one year of their start date.
  • Ensuring that contributions are received: The trustees shall make sure, as far as is reasonable, that contributions payable by the employer and members are received.
  • Investing the funds: the trustees must ensure that the resources of the pension scheme are properly invested in line with investment regulations and the scheme’s trust deed and rules.
  • Making arrangements for the payment of benefits: The Pensions Act also specifies that trustees should make arrangements for the timely payment of benefits.
  • Seeing that records are kept: Trustees are obliged to make sure that appropriate membership records and financial data are kept.
  • Preserving or transferring benefits: The trustees must make sure that the necessary arrangements are made for early leavers of the schemes to have their benefits preserved, revalued or transferred to another pension plan.
  • Checking that the funding standard is met. The trustees of a defined benefit scheme must ensure that the scheme complies with the minimum funding standard (MFS) as required by the Pensions Act.
  • Registered administrators: With effect from 1 November 2008 the trustees of every scheme had to appoint a registered administrator to provide various services to the scheme. ILP Pension Trustees DAC has appointed Invesco Limited as the registered administrator.
  • Giving out information: trustees must make available certain documents and information about the scheme and its operation to members and other specified persons.
  • Applying equal pension treatment: According to the Pensions Act, which gives effect to EU law in this regard, trustees of company pension schemes, with certain exceptions, must see that their scheme complies with the principle of equal pension treatment.
  • Distributing the resources of the scheme on wind-up: Trustees of a pension Scheme that is being wound up must use the assets of the scheme to settle its liabilities without undue delay.

Compliance with the pension provisions in the Family Law Acts: The pension provisions of the Family Law Acts are among the more detailed statutory requirements with which trustees have to comply. Trustees should have a general understanding of all aspects of these provisions so as to promote full compliance.

GDPR: The General Data Protection Regulation (GDPR), which came into effect on 25 May 2018, has largely replaced existing data protection legislation in Ireland. For pension schemes, the GDPR has introduced significant changes and enhancements to previous data protection rights, as well as additional requirements. As data controllers, pension trustees are required to comply with the fundamental principles of data protection, including obtaining and processing personal data fairly, keeping it safe and secure, and ensuring that it is adequate, relevant and not excessive.

 

RESIDENCE
The pages of this website are prepared and issued in the Republic of Ireland and are intended for the information of Republic of Ireland residents only. The information contained on the ILP Pension Trustees DAC website does not constitute an offer or solicitation to sell any of the products referred to on this website, by anyone in any jurisdiction in which such an offer, solicitation or distribution would be unlawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation. The services and products on this website are only available to residents of the Republic of Ireland and ordinarily resident in the Republic of Ireland for tax purposes.

ACCURACY OF INFORMATION
ILP Pension Trustees DAC uses all reasonable skill and care in compiling the information shown on this website. However, errors or omissions in the information may occur because of a number of factors which are inherent in any Internet access system and are not within ILP Pension Trustees DAC reasonable control, for example (without limitation), unauthorised access to this service, or the effects of machine, software or operator error or malfunction in connection with data transmission. ILP Pension Trustees DAC does not accept any responsibility and will not be liable for any such errors or omissions. Information is updated regularly. However, certain inaccuracies may occur and, ILP Pension Trustees DAC advises you to confirm the accuracy of any information with ILP Pension Trustees DAC before seeking to rely on such information. ILP Pension Trustees DAC will use reasonable effort to ensure the accuracy and completeness of all such information. Accordingly you agree not to hold ILP Pension Trustees DAC responsible for any inaccuracies or omissions.

AVAILABILITY OF WEBSITE
The website may be temporarily unavailable or restricted for administrative or other reasons and ILP Pension Trustees DAC does not accept any responsibility and will not be liable for any loss or damage arising out of or in connection with loss of use of the website. In particular, access to the website may also be prevented by certain factors outside the reasonable control of ILP Pension Trustees DAC (a 'Service Disruption Event') including, without limitation, the in-operation, inefficiency or unsuitability of the hardware or software used to access the website and the unavailability, in-operation or interruption of Internet or other telecommunication services. ILP Pension Trustees DAC does not accept any responsibility and will not be liable for any loss or damage arising out of or in connection with such a Service Disruption Event.

LINKS
ILP Pension Trustees DAC accepts no responsibility for information contained in any other sites which can be accessed by hypertext link from these pages or for these websites not being available at all times. ILP Pension Trustees DAC is not responsible for anything mentioned on or linked to this website by any third party over which we have no control. Where a link to a non-ILP Pension Trustees DAC website exists, which has not been authorised by ILP Pension Trustees DAC, ILP Pension Trustees DAC will not be responsible or liable in any way for the content of such linked website including any products, services or other items offered through that website. The inclusion of hyperlinks to websites does not imply any endorsement by use of the material on such websites.

USE OF THE WEBSITE
The customer undertakes to indemnify ILP Pension Trustees DAC in respect of any loss or damages which may arise as a consequence of the customer's non-compliance with these conditions. ILP Pension Trustees DAC shall not be, in any circumstances, liable to the customer for any special, indirect loss or any loss of data or loss of profit suffered or incurred by the customer.

OBLIGATION OF THE CUSTOMER
The customer shall provide and maintain, at the customers own expense, any device needed to access this website and shall ensure that such equipment satisfies all technical and other requirements specified by ILP Pension Trustees DAC. The customer is responsible for disconnecting and clearing any information from any device used to access the ILP Pension Trustees DAC website before leaving such devices unattended. All costs incurred by the customer in accessing and utilising the ILP Pension Trustees DAC website including the cost of telephone calls and Internet access shall be at the customers expense.

ADVICE
The pages of this website are for information only and do not constitute financial or other professional advice in any way. We recommend you seek advice from a financial advisor before making any financial or investment decisions.

COPYRIGHT NOTICE
The information, content, graphics, text, sounds, images, buttons, trademarks, trade names and logos contained on the website are protected by copyright, and other intellectual property laws, under national laws and international treaties. The customer is granted a limited licence solely for the customers own personal, non-commercial use to refer to, bookmark or point to any page within the website, and to download the materials contained on the website to a single personal computer, and to print a single hard copy of the materials contained on the website for the Customers own personal reference, provided however that all copyright, trade mark and other proprietary notices are left intact. It is not permitted to reproduce (in whole or in part), modify, de-compile, disassemble or transmit or use for any commercial purpose whatsoever any information from this website without receiving the prior written consent of ILP Pension Trustees DAC. Content and information provided by third parties is identified clearly where it appears. ILP Pension Trustees DAC publishes this content as supplied to it and is not responsible for its accuracy or timeliness. You may take appropriate steps to verify this information before acting upon it.

E-MAIL
Please note that there is no guarantee that any e-mail sent will be received by ILP Pension Trustees DAC, or that its contents will remain private during Internet transmission. If you have any such concerns, you may prefer to telephone or write to ILP Pension Trustees DAC instead.

DOWNLOAD
Access to and use of the ILP Pension Trustees DAC website is at the user's own risk and we do not warrant that the use of this website or any material downloaded from it will not cause damage to any property, including but not limited to loss of data or computer virus infection.

ALTERATION OF THESE TERMS AND CONDITIONS
ILP Pension Trustees DAC may at any time amend, supplement or replace these Terms and Conditions as a result of changes in the company's policies, changes in technologies, to cater for new products, to comply with legal, taxation, or regulatory requirements or other circumstances affecting ILP Pension Trustees DAC or the services it offers.

INDEMNITY
ILP Pension Trustees DAC shall not be held liable for any loss or damage suffered by any person as a result of the customer's breach of any of the aforementioned Terms and Conditions.

DISCLAIMER
While ILP Pension Trustees DAC uses reasonable efforts to ensure that the information contained on its website is current, accurate and complete at the date of publication, no representations or warranties are made (express or implied) as to the reliability, accuracy or completeness of such information. ILP Pension Trustees DAC, therefore, cannot be held liable for any loss or damages arising directly or indirectly from the use of, or any action taken in reliance on, any information appearing on this website, whether this information is provided directly by ILP Pension Trustees DAC, a sponsor or other information provider. In addition, no warranty is given as to the freedom of this website from errors, defects, viruses or other malicious programs or macros. ILP Pension Trustees DAC reserves the right to suspend or withdraw access to the pages of this website without notice at any time and accepts no responsibility for these pages not being available at all times.