On Friday afternoon 23rd of January, LHW received notification that the Pensions Authority were carrying out an investigation of the above company. Source Pensions act as administrator on a number of staff pension schemes in Ireland. In this role they collect premiums from staff payroll and process transfers to a range of fund managers. Source Pensions do not hold client funds. They also act as trustees and in this role they are responsible for ensuring that pension scheme member’s interests are fully protected. As of Friday 7.30pm we are not aware of the nature of this investigation. We have contacted our contacts in companies that have a staff pension scheme with Source Pensions in order to update them on the Pensions Authority letter. We will keep all clients updated as soon as possible.
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