The transposition of the IORP II Directive will result in significant improvements to the regulation and governance of funded occupational pension schemes in Ireland. Officials in my Department, supported by the Pensions Authority, have conducted detailed analysis on the implementation of the Directive. The drafting of regulations is at an advanced stage and my Department is working towards transposing the Directive as early as possible, subject to a case before the Courts.
As the Deputy may be aware, an application has been granted for a judicial review for a set of reliefs and a stay in relation to the transposition into Irish law of the IORP II Directive. As such, it would not be appropriate for me to comment on matters that are currently before the Courts.
I hope this clarifies the matter for the Deputy.