2007: Social Welfare and Pensions Act amends the Pensions Act of 1990 in relation to trust Retirement Annuity Contracts (RACs), as it is the view of the Pensions Board and the Department of Social and Family Affairs that trust RACs come under the remit of the Directive 2003/41/EC on the activities and supervision of Institutions for Occupational Retirement Provision (IORPs Directive). In order to comply fully with the provisions of the IORPs directive, it was necessary to bring such trust RACs under the remit of certain provisions of the Pensions Act where appropriate.

2006: Social Welfare Law Reform and Pensions Act 2006 inserts a new Section 3A into the Pensions Act, which provides an alternative to the prosecution of an offence under the Act. The new Section 3A provides that the Board may notify a person in writing that it is alleged that an offence has been committed and that if, within 21 days of the notice, the person has remedied the offence to the satisfaction of the Pensions Board and paid the appropriate fine, the prosecution will not be initiated.

2005: Social Welfare and Pensions Act; provides for amendments to the Pensions Act of 1990 that are necessary to provide for the transposition of EC Council Directive 2003/41/EC on the activities and supervision of Institutions for Occupational Retirement Provision (IORPs Directive); also provides additional amendments to the Pensions Act of 1990 to implement recommendations from the Pensions Board to the Minister for Social and Family Affairs following a review of the Funding Standard.

2004: Social Welfare (Miscellaneous Provisions) Act; amends the Pensions Act of 1990 to bring pensions legislation into line with existing equality legislation in Ireland, as well as various EU Directives; provides for equal pension treatment and prohibits discrimination.

2002: Pensions (Amendment) Act; amends the Pensions Act of 1990 by introducing a framework for Personal Retirement Savings Accounts (PRSAs) and their associated tax relief and arrangements; establishes a Pensions Ombudsman and permits different provisions to come into force on different dates.

2001: Protection of Employees (Part-Time Work) Act; stipulates that, if an employer provides a pension plan for its full-time employees, then access to the plan (or a no less favourable alternative) must also be possible for comparable part-time workers on a pro rata basis.

1997: Taxes Consolidation Act; regulates the tax treatment of complementary occupational pension plans (referred to in the Act as Retirement Benefit Schemes).

1996: Pensions (Amendment) Act; amends the Pensions Act of 1990 by adding provisions for compulsory and voluntary reporting to the Pensions Board.

1996/1995: Family Law Acts; The Family Law Act 1995, and the Family Law (Divorce) Act 1996, require that pension rights be taken into account by the court for the purposes of reaching financial settlement where the parties apply for a judicial separation or divorce; impose a wide range of obligations on trustees, including disclosure or information before and after the making of pension adjustment orders (PAOs), calculation of benefits, and giving effect to PAOs, including the payment of benefits to non-member spouses.

1990: Pensions Act; contains provisions for the proper administration of pension plans and protection of members pension rights, provides for preservation and transfer of rights, a funding standard and disclosure of information. The Pensions Act of 1990, as amended by subsequent legislation, is known collectively as the Pensions Act 1990-2007 and overrides the provisions of the trust deed and the rules of schemes where those provisions conflict with the terms of the Acts.

1984: Protection of Employees' (Employer's Insolvency) Act; makes provision for the payment of unpaid contributions to a pension plan by a statutory fund where the plan has insufficient assets to meet its benefit commitments on winding-up.


1958: Trustee (Authorized Investments) Act; gives trustees certain (rather limited) powers of investment.

1893: Trustee Act; deals with the appointment and removal of trustees and gives them certain powers.

Many provisions of the two Trustee Acts apply only if they are not excluded or changed by the terms of the trust, so the Acts must be read together with the trust documents.

Case Law; the concept of the trust was first developed in the courts and it has been adapted and extended over time through further court decisions. The body of court decisions on trusts is the first (and largest) source of law affecting trustees. Many of the rules laid down by the courts can be changed by the express terms of a particular trust, but unless this is done these general rules will apply.'