Auto-Enrolment and Pensions: An UpdatePosted in : LK Shields on Employment Law on 23 May 2023
Automatic enrolment is a new form of retirement savings system that is intended to be introduced in Ireland in 2024. Employees who do not have an occupational pension will be automatically enrolled in the new scheme, with the choice to leave the scheme or ‘opt out’ under certain conditions.
With the introduction of this system, the Government aims to promote pensions savings, increase the number of employees in Ireland with a pension and reduce the numbers entirely reliant on the State pension when they retire.
Employers in Ireland are legally obliged to provide their employees with access to at least one standard personal retirement savings account (PRSA) within six months
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This article is correct at 23/05/2023
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