S.I. No. 435 of 2022 designates the Central Bank of Ireland as the competent authority for supervising PEPP providers and distributors under Regulation (EU) No 2019/1238. It empowers the Bank to issue written directions to relevant persons, seek court enforcement and impose administrative sanctions under the Central Bank Act 1942, including monetary penalties subject to the caps in the PEPP Regulation; certain Bank decisions are made appealable under Part VIIA of that Act.

The Regulations oblige cooperation from the Pensions Authority, permit limited information sharing with Revenue for PEPP supervision, set decumulation rules (generally earliest age 60, limited exceptions from 50, and mandatory commencement by 75) and amend the Act of 1942 to extend enforcement and procedural provisions to PEPP contraventions.