Company pension trustee support

This information applies to existing one-member company pension plans that were set up before the 22nd April 2021

Appointing an independent trustee

Harmony Pension Trustees Ltd can be appointed as trustee to any existing Irish Life one-member company pension scheme once the employer completes a supplementary letter of exchange (SLOE). There is currently no additional charge for appointing Harmony Pension Trustees. If this changes in the future we will let you know in advance. 

How to proceed
  1. The SLOE to appoint Harmony Pension Trustees should be completed by both the employer and the member
  2. Email the completed SLOE to the Pension Existing Business team
Change of employer

A new employer may be appointed to an existing, pre-April 2021, Irish Life one-member scheme.

How to proceed
  1. The SLOE to change employer should be completed by the old employer, the new employer and the member
  2. The new employer and the member complete the supplementary application at the back of the SLOE
  3. Evidence of salary from the new employer should be obtained
  4. Email the completed SLOE to the Pension Existing Business team

 

Employer as trustee

If the employer continues to act as trustee it must carry out regular trustee training. From 22nd April 2026, IORP II governance regulations shall apply to one-member schemes set up before 22nd April 2021.