PRSA assets up €189m in Q4
IRELAND - Total assets invested in Personal Retirement Savings Accounts (PRSAs) grew 29% (€189m) in the final quarter of 2006 to reach €835.3m.
The Pensions Board said 95,045 PRSAs had been taken out, compared to 83,790 at end September 2006. That figure was comprised of 72,761 standard PRSAs and 22,284 non-Standard PRSAs. In other news, the...
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Irish pension funds face new risk reserve requirements
IRELAND - Underfunded pension funds will have to meet new risk reserves which could add 10% to its funding requirements and will have the ability to use sovereign annuities under the proposed new funding standard.
Company director convicted for failing to deposit pensions
IRELAND - An Irish construction company director has been convicted for failing to pass on employee pension contributions to the Construction Worker Pension Scheme (CWPS).
