IORPS Directive (Institutions for Occupational Retirement Provision)

The IORPS II Directive is an update on the original European IORPS Directive which was intended to be transposed into Irish Law on 13th January 2019. The Directive was not transposed on this date, however,  is expected to be transposed during 2019.

There are two areas of concern for Small Self-Administered Pensions (SSAPs) in the Directive

1: The insistence that one person pension arrangements are forced to invest a minimum of 50% of their scheme in assets that are tradeable on regulated markets. This forces people down a particular investment route that might not be suitable for their needs and severely restricts choice.

2: The prohibition of borrowing for one person pension arrangements. This again restricts the choice for pension holders to invest in geared property purchases.

There may be a limited opportunity for you if you are considering using your pension/ SSAP to invest into property investments or non-regulated investments.

We understand that existing SSAPs will not be affected by the Directive although there are no guidance notes available yet.
If you have a financial planning or product question please contact us :

This article was written by Rory Nelson, founder of Nelson Life. Rory is celebrating 20 years in financial planning this year. Professional qualifications include; UCD Specialist Diploma in Wealth Management, Pension Trustee Practitioner PTP, UCD Professional Certificate in Stockbroking,UCD Professional Certificate in Asset Management (SIA),  QFA FLIA, Pensions Diploma, Mortgage Advice Diploma, CFP module – Tax & Estate Planning and has a degree in BA Accounting & Finance. He has regularly participated in national financial press.

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  • WARNING: The above content does not constitute investment advice, as it does not take into account the investment objectives, knowledge and experience of financial situation of any particular person. Prospective investors are advised to make their own assessment of the information contained herein and to obtain professional advice suitable to their own individual circumstances.
  • WARNING: The information contained in this document is based on our understanding of current tax legislation and the current Revenue Commissioners interpretation thereof and is subject to change including retrospectively without notice. This is intended as a general guide only and is not a substitute for professional tax, legal and investment advice. 

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