IBEC anger at Pensions Board guidelines

EMPLOYERS’ representative body IBEC has called for a meeting with thePensions Board over itsrecently issued guidelines for pension schemes, which have variously been described as being short- sighted, rigorous and intolerable.

IBEC and other industry bodies have reacted angrily to the Pensions Board’s latest guidelines surrounding section 50 applications.

These applications seek permission from the body to reduce benefits previously offered within occupational pension schemes, in order to meet the minimum funding standard requirement.