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for Irish Occupational Pension Schemes
Amount of pension depends on salary and service
Amount of pension depends on amount saved while working
predominantlyin regulated markets
|Asset Class||Capital Value||Return Type||Long Term Returns|
|Equities||Very Volatile||Real returns||High|
|Bonds||Somewhat Volatile||Nominal returns||Moderate|
|Property||Moderately Volatile||Real returns||High|
Set investment objectives
Decide on investment structure
Select investment managers
Potential for great returns,
but an unacceptable level of risk!
|Inflation Risk||Long time to go to retirement or planning to invest in ARF||Equities / Property|
|Market Risk||Close to retirement (funding for lump sum)||Cash|
|Interest Rate Risk||Close to retirement (funding for pension)||Long bonds|
Two members, same scheme, identical saving histories1 retire a year apart. Assume both take the same tax-free cash lump sum of €75,000. The remainder is used to buy an annuity(per annum)2 of:
|Jim retires||Difference||Paul retires|
(e.g. deficit/future contributions)
Member entitled to immediate vested rights, after 2 years in the plan
The annual reports should include the identities of:
Audited accounts must include:
Within 2 months of joining scheme, member to be furnished with booklet, to include:
For DC Schemes trustees must also furnish members with the following:
In broad terms, the main duties of the Trustees under the Act are: