Dentists’ Retirement Savings Scheme seeks Trustee Directors
The Irish Dentists’ Approved Retirement Savings Scheme is seeking to appoint Trustee Directors and wishes to invite expressions of interest from IDA members.
The Scheme is operated on a not-for-profit basis and is open to all IDA members. The Trustees believe that the Scheme, as currently operating, is a better pension arrangement than most of the Association’s current membership realise. Most of the Association’s members have individual personal pension plans, which tend to be significantly more expensive and consequently underperform group arrangements such as this Scheme. If the Scheme attracts more members, fees can be further reduced and therefore the Scheme would become an even more attractive proposition through time.
Below are the general responsibilities of a Trustee Director of an occupational pension scheme:
- attendance at two to four trustee meetings per year – meetings tend to take two hours maximum;
- complete Trustee training every two years – this is likely to be an additional half-day commitment every two years;
- familiarise themselves with Scheme documents; and,
- promote the Scheme where possible among fellow IDA members.
The following, although the responsibility of the Trustees, are led and assisted with by Acuvest and other providers:
- administer the trust in accordance with trust law, all other laws and the terms of the Trust Deed and Rules;
- act in the best interests of beneficiaries;
- act fairly between beneficiaries;
- act prudently and diligently;
- exercise care and utmost good faith in all trustee duties;
- seek professional advice, as necessary; and,
- supervise those to whom functions have been properly delegated.
For further information, members should contact Mr Edward O’Hanlon at: EdwardOH@acuvest.ie.