307 / 436
GAZETTE
SEPTEMBER 1990
Association of Pension Lawyers
Republic of Ireland Regional
Group Activities update
The Association of Pension
Lawyers was formed in 1984 by a
group of London lawyers special-
ising in pension matters. These
lawyers saw a need to bring
together members of the legal
profession (both barristers and
solicitors) who provide expert
services in all areas relating to
pensions. Their aim was to repre-
sent their interests, to meet the
needs of their clients andmembers
of pension schemes and to provide
a forum to enable government and
the media to make use of their
skills.
In 1989 the Main Committee of
the Association of Pension Lawyers
decided to promote the establish-
ment of Regional Groups as the
demand for more localised meet-
ings was apparent. In December
last the first Regional Group was
formed in Birmingham. I travelled
from Dublin to beat the first meeting.
Early this year it was apparent
that the promised Pensions Bill
would shortly be published. There
had been considerable activity in
the pensions area in Ireland in 1988
and 1989 with the publication of
the various Reports of the National
Pensions Board. There was also
increasing interest in pensions as it
became clear to lawyers practising
in private practice, at the Bar, in the
Insurance Industry and Pension
Consultancy firms that the forth-
coming Pensions Act 1990 would
be a significant piece of legislation.
As a result of this interest two
colleagues of mine in the Insurance
Industry, Joan Flanagan (Solicitor)
of Irish Pensions Trust Ltd., Michael
Lane B.L. of New Ireland Assurance
Co. pic and I decided to establish
a Regional Group to promote the
aims of the Association of Pension
Lawyers in Ireland.
On the 17th of May 1990 we
held a most successful Inaugural
Meeting in the Westbury Hotel.
Prior to the formal addresses given
by our guest speakers there was a
most enjoyable finger buffet. All of
those who attended took the
opportunity to chat and meet one
another!
Both solicitors and barristers
attended the meeting and heard
Addresses given by Mr. Brian
McCracken S.C., Chairman of the
National Pension Board, and Mr.
Jonathan Seres, Sacker & Partners,
London. Jonathan spoke on "The
Similarities and Differences bet-
ween the Republic of Ireland's
Pensions Bill and the United
Kingdom Experience". Brian spoke
on "The Pensions Bill 1990".
We were delighted to have at our
Inaugural Meeting the Chairmanof
the Association of Pension
Lawyers, Mr. Tony Thurnham of
Linklaters and Paines, London, the
Secretary of the Association of
Pensions Lawyers, Mr. Ian Pittaway
of Nicholson Graham and Jones,
and the Regional Director of the
Association of Pension Lawyers,
Mr. Trevor Clarke of Simpson Curtis,
Leeds. The Chairman of the Genral
Council of the Bar of Ireland, Nial
Fennelly S.C. also attended. The
President of the Incorporated Law
Society of Ireland, Mr. Ernest
Margetson, sent his apologies.
There was welcomed support at
the Inaugural Meeting fromvarious
organisations involved in the
Pensions Industry such asThe Irish
Institute of Pension Managers, The
Irish Association of Pension Funds
and The Society of Actuaries in
Ireland.
With the publication of the
Pension Bill 1990 in March our
Regional Group had a lot of work to
do!
Immediately our Legislative and
Parliamentary Sub-Committee
under the Chairmanship of Michael
Lane, of New Ireland Assurance
Co. pic met to prepare submissions
on the Pensions Bill. As a result of
the Sub-Committee's work we
made a submission to the Minister
for Social Welfare, Dr. Michael
Woods T.D., asking him to extend
the ordinary membership of
Pensions Board to include a repre-
sentative of the legal profession.
We also submitted to the Minister
several technical submissions on
specific sections of the Pensions
Bill.
The Pensions Act 1990 became
law in late July. The composite of
the ordinary membership of the
Pensions Board was extended to
include a representative of the legal
profession. Many of our technical
submissions on the sections of the
Pensions Bill were also included in
the Act.
In late July the Minister for Social
Welfare wrote to us asking us to
nominate a representative of the
legal profession for ordinary mem-
bership of the Pensions Board. We
have replied to the Minister sub-
mitting our nominee to him. The
Pensions Board will be appointed
by the Minister in October.
We held our first meeting on the
25th September. The September
meeting had as its theme "The
Pensions Act 1990 - An Update".
We were delighted that Mr. Paul
Kelly F.I.A., President of the Society
of Actuaries in Ireland and Mr.
Paddy Gallagher B.L. Chairman of
the Irish Association of Pension
Funds had agreed to address us.
Mr. Paul Kelly concentrated on
particular issues in the Pensions
Act where a meaningful dialogue
between lawyers and actuaries
would be productive both for ad-
visers on pension matters and for
our mutual clients. Mr. Kelly stated
that the first major challenge facing
all advisers under the Pensions Act
was to work within the spirit of the
Act and not to seek to manipulate
its provisions for short term gain.
Mr. Kelly also made a plea for
pragmatism and simplicity.
Mr. Paddy Gallagher dealt with
the significant legal differences
between the Pensions Bill and the
Act itself. Mr. Gallagher made valu-
able comments on certain sections
of the Pensions Act where there
appeared to be some anomalies,
lack of clarity and legal inconsis-
tencies. Mr. Gallagher also made a
plea for under regulation rather
than over regulation under the
Pensions Act. Mr. Gallagher felt
that too much regulation could
strangle the development of pensions
and would only increase cost. At
the end of the day the regulations
might not close every loop hole.
Both papers were well received
by our members and we had some
interesting questions raised from
those in attendance. The Society of
Actuaries in Ireland and the Irish
Association of Pension Funds are
IContd.
on
p.298)
291