Cork Pension Seminar Success as Pressure Increases on Finance and HR Directors
18 January 2010
IFG Corporate Pensions
Date: Monday 18th January 2010
Source: IFG Corporate Pensions
Finance and HR Directors from throughout Munster attended IFG Corporate Pension’s “Pensions 20/20 Vision Seminar” at the Clarion Hotel in Cork on Friday 15th January, which was specifically designed for Finance Directors, Pension Trustees and HR Directors to address the huge challenges facing employee pension schemes.
Califf Delaney, Corporate Client Consultant of IFG Corporate Pensions, spoke at the event, “We identified the need for a seminar such as this, due to recent developments in Ireland which have resulted in Finance and HR Directors and their personnel becoming increasingly concerned over their role as pension trustees. Members are increasingly seeking clarification from trustees on their pension benefits and the underling scheme performance”.
A survey conducted at the event showed that attendees were divided in their outlook for 2009, with almost a third (31%) saying that they could see an upturn for their business in 2010, a similar portion saying that business was going to be slightly worse in the same period and a quarter (25%) of respondents feeling that there would be no significant change from 2009. A dominant observation amongst attendees was the increased concern demonstrated by their employees in relation to their pensions over the last 12 months with almost 60% saying that they had seen a noticeable heightening of concern and inquiries.
Califf continued, “The mood at the event was mixed and possibly not as somber as we would perhaps have seen twelve months ago. The market’s seeing some signs of recovery and pension funds are recouping some of their losses. But as our survey highlighted people have been frightened by the pension losses suffered in 2008 and 2009 and many of the attendees have experienced an increase in information requests from employees relating to their pension and related entitlements”.
Califf concluded, “Trustees have a responsibility to ensure that the investments of the pension scheme match the nature and duration of the liabilities of the scheme. With any type of responsibility comes some degree of pressure – and anecdotal evidence has suggested that Finance and HR Directors are being increasingly inundated with pension queries from employees.
The use of technology is imperative going forward to disseminate accurate and useful information to employees to assist those managing corporate schemes to deal with the mounting queries and tasks”
IFG Corporate Pensions
IFG Pensions, Investments & Advisory Services
IFG Pensions Investments and Advisory Services operates across four key divisions; IFG Corporate Pensions, IFG Private Clients, IFG Trustee Services and IFG Self-Administered Pensions.
As innovators in the Irish market, IFG Corporate Pensions offer retirement planning solutions to Irish and Multinational companies. IFG Private Clients, provide independent advisory solutions across all aspects of personal financial planning.
We offer Scheme Trustees a range of advisory services and through our IFG Self-Administered Pensions Division we offer Executives and Directors tailored retirement planning solutions.
IFG Pensions, Investments & Advisory Services is part of IFG Group plc.
IFG Group plc
IFG Group plc is a highly diversified financial services company specialising in the provision of independent financial advisory and administrative services across Ireland, the UK and Europe. The company has over 800 employees across ten countries.
Back to News