Automatic Enrolment Retirement Savings System Act 2024

Membership of Board

11. (1) The Board shall consist of such number of members appointed by the Minister as the Minister may from time to time determine.

(2) The number of members appointed by the Minister shall be not fewer than 5 and not more than 8.

(3) The Minister shall designate one of the members as chairperson.

(4) In appointing persons to be members of the Board, the Minister shall have regard to the desirability of their having knowledge or experience in matters connected to—

(a) the functions of the Authority, and

(b) organisational governance, management, financial administration and financial investment.

(5) Of the members of the Board, other than the chairperson—

(a) one shall be a person who has, in the opinion of the Minister, knowledge or experience in matters relating to the interests of employees, and

(b) one shall be a person who has, in the opinion of the Minister, knowledge or experience in matters relating to the interests of employers.

(6) The duties imposed on members of the Board in the performance of their functions under this Act shall be owed by them to the Authority and the Authority alone.

(7) The Minister shall, in so far as is practicable, endeavour to ensure that among the members of the Board there is an equitable balance between men and women.

(8) If a member of the Board ceases to be a member in any way other than on the expiry of the member’s term of office, the Minister shall, as soon as is practicable, appoint another person to fill the vacancy.

(9) The Authority shall, as soon as is practicable after a person is appointed as a member of the Board, publish in Iris Oifigiúil the name of the person so appointed.