The Pensions Board launches interactive e-learning system for pension scheme trustees

Thursday 14 January 2010: Today, The Pensions Board launched its e-learning system for pension scheme trustees. From 1 February 2010, all pension scheme trustees must undertake training at least every two years. The new e-learning system provides this training on-line and free of charge in an easy to use self-paced manner. The interactive e-learning course comprises nine lessons covering:

∙ understanding pensions
∙ being a trustee
∙ scheme rules, contributions and benefits
∙ running a scheme
∙ scheme financing for defined benefit schemes
∙ investing a scheme’s assets
∙ administration and accounting
∙ member communication
∙ managing problems.

The trustee e-learning system is a significant investment in technology and can be accessed at http://trusteetraining.pensionsboard.ie/ or from the Board’s website on www.pensionsboard.ie.

Speaking at the launch, the Chief Executive of the Pensions Board, Mr. Brendan Kennedy said ‘Our new e-learning system provides practical help for pension scheme trustees in carrying out their duties. The e-learning system builds on the publication of the Trustee Handbook 3rd Edition – available free of charge for download from the Board’s website – and other information services provided by the Board.  We are constantly considering how to support trustees in their challenging roles, and have a number of further initiatives planned for 2010’.

For further information:

David Malone
Head of Information
The Pensions Board
Tel (01) 6131900

Andrew Nugent
Assistant Head of Information
The Pensions Board
Tel (01) 6131900

Jackie Gallagher
Q4 Public Relations
Tel (01) 4751444/ 087 2371838

Notes:

How does the Pensions Board trustee e-learning system work?

The e-learning system is designed to give a good understanding of the role and responsibilities of a trustee and how to apply them. The course has nine lessons ranging from the basics of pensions and trusteeship, through to more complex areas such as investment. These include:

∙ understanding pensions
∙ being a trustee
∙ scheme rules, contributions and benefits
∙ running a scheme
∙ scheme financing for defined benefit schemes
∙ investing a scheme’s assets
∙ administration and accounting
∙ member communication
∙ managing problems.

Each lesson covers a number of topics and is completed by carrying out an assessment at the end of the lesson. Each topic is designed to take about 10 minutes and each of the nine lessons takes on average about 60 minutes. The system allows you to complete the topics at your own pace.  Each topic can be taken separately, and does not have to be completed in one session. In order to take the assessment in each lesson, you must have completed all the material for that lesson. When you have finished all of the lessons and passed the assessments, the Board will provide you with a certificate to acknowledge your successful completion of the training.

The e-learning system is available at http://trusteetraining.pensionsboard.ie/ and is also accessible from the Board’s home website www.pensionsboard.ie.

 
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  • This pension’s calculator is designed to give a broad indication of the level of contributions required to give your desired pension at your retirement age. This calculator only provides a sample indication of the funding contributions for your pension and no reliance should be placed on it.
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  1. Assumptions used: Investment return will be 5% per year before retirement and 4% per year after retirement. Salary will increase at 3% per year. Pension will increase at 2% per year in retirement. The State Pension will increase in line with salary increases. Spouse's annuity assumes a 3 year age gap between the Main Life and Spouse. Your personal illustration above makes an approximate allowance for the recently introduced Pensions Levy (i.e. 0.6% of your Fund Value) until 2014 or your intended retirement year if earlier.
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