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Trustee pension Training

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  • 25-01-2012 5:02pm
    #1
    pavb2
    Registered Users Posts: 2,931 ✭✭✭


    hi all I am a trustee for an employee's pension fund (Quinn Life) and have a letter saying I need to do Trustee Training as a matter of law.

    I've had a quick look at Pensions board web site and you have to register etc but can this training be completed on line and how much time does it take?

    Thanks for all help


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    #2
    coylemj
    Registered Users Posts: 25,361 ✭✭✭✭coylemj


    If it's a company pension scheme then normally the company pays for you to do the training. I did it a few years ago with Mercer, it was a one day course on their premises.


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    #3
    TiGeR KiNgS
    Registered Users Posts: 1,435 ✭✭✭TiGeR KiNgS


    pavb2 wrote: »
    hi all I am a trustee for an employee's pension fund (Quinn Life) and have a letter saying I need to do Trustee Training as a matter of law.

    I've had a quick look at Pensions board web site and you have to register etc but can this training be completed on line and how much time does it take?

    Thanks for all help

    Interested to know if the trustee position purely voluntary ?


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    #4
    pavb2
    Registered Users Posts: 2,931 ✭✭✭pavb2


    Not really, I'm the company owner and director the 'employee' my wife and also a director.

    My other option is to switch to another pension fund she has which doesn't require this but I'm keen on not keeping all the eggs in one basket as I've learnt (to my cost) that diversification is the key.

    In fairness the flexibility of the Quinn pension ie putting funds into Europe,global ethical funds means I haven't lost any money put in (yet). We didn't get the 50 % hit we took on an Irish life one, all money went in to an Irish Property Fund. Ouch! Ahh the benefit of hindsight and a bit of education regarding pensions.


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    #5
    skippy2
    Registered Users Posts: 393 ✭✭skippy2


    It can be done online and takes as long as you want it to take ie. how much time you spend on it. It can be done over a couple of days, started and stopped after you set up a user name etc. Its worth doing and I think you need it for any pension fund you are a trustee of. It is basic enough but you still learn something.


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