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Wednesday, 17th April 2024
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Clean hands in pensions Back  
While maladministration or arrears of administration may be relatively common in Irish pensions schemes, there is little evidence of their being tainted by 'serious fraud' according to Anne Maher, chief executive of the pensions board. Maher was addressing the Irish Association of Pension Funds recently when she pointed out that the Pensions Board was concerned about 'administration shortcomings'. She said that of the 196 schemes audited last year in relation to Disclosure of Information Regulations, only 17 of those replying achieved full compliance without further correspondence. Maher said that while caution is needed in interpreting the quantitative results of the audit process, the Board will address the overall level of non-compliance in the regulatory area.
The Pensions Board is considering some prosecutions on foot of breaches of the Pensions Act.

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