If you have an Executive Pension or a single-member pension scheme established through your company, there is an important regulatory change taking effect this April that requires your attention. New European pension regulations, known as IORP II, are being introduced and will significantly change how certain pension arrangements are governed. As a result, many one-member pension schemes will no longer be permitted to continue in their current form beyond the April deadline.

What does this mean for you? Put simply, a decision needs to be made. In most cases, your existing pension will need to be transferred into an alternative structure, such as a Master Trust, or formally wound up and moved into a new, compliant arrangement. Choosing the right solution is essential to keeping your retirement plans on track and will depend on your personal circumstances, business structure and long-term goals.

It is important to understand that this is not merely an administrative exercise. The timing and structure of any pension move can have a direct impact on how your funds are invested, the level of control you retain, the costs you incur and, in some cases, your tax position. Taking informed, professional advice now can make a meaningful difference to your retirement income in the years ahead.

At Cantor Fitzgerald Ireland, we are actively supporting our clients through the IORP II transition. Our experienced wealth planning team focuses on making the process straightforward and transparent, helping you understand your options, assess the implications and implement changes that align with your wider financial strategy.

With the 22nd of April approaching, it may be helpful to review your position early to understand your options. If you are unsure whether IORP II affects your pension, or if you would like to discuss the best course of action for your situation, we would be delighted to help. Contact the Cantor Fitzgerald Ireland Wealth Planning team today to arrange a consultation and ensure your pension remains compliant, efficient and aligned with your retirement goals.

Written by Linda McGrath, Relationship Manager