Location: Rep.of Ireland
Northern Ireland
Location: Rep.of Ireland
Northern Ireland
Home / Articles / Auto-Enrolment and Pensions: An Update

Auto-Enrolment and Pensions: An Update

Posted in : LK Shields on Employment Law on 23 May 2023
Gillian Dully
LK Shields LLP
Issues covered: Pensions

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.

Background

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
Disclaimer:

The information in this article is provided as part of Legal-Island's Employment Law Hub. We regret we are not able to respond to requests for specific legal or HR queries and recommend that professional advice is obtained before relying on information supplied anywhere within this article.

Gillian Dully
LK Shields LLP

The main content of this article was provided by Gillian Dully. Contact telephone number is + 353 1 638 5863 or email gdully@lkshields.ie

View all articles by Gillian Dully