ARTICLE · 16 AUGUST 2024

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A further step towards the introduction of auto-enrolment in Ireland has been achieved.

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PENSIONS: AUTO-ENROLMENT

A further step towards the introduction of auto-enrolment in Ireland has been achieved. The Automatic Enrolment Retirement Savings System Act 2024 completed its passage through the Oireachtas and the legislation was signed into law by the President of Ireland on 9 July 2024. The Act provides that it will come into operation when commenced by orders passed by the Minister for Social Protection. The Minister has stated that auto-enrolment will "become a reality" in 2025, though the exact timing of the commencement of the Act is not yet known. The Act provides for employees aged between 23 and 60, who earn in excess of €20,000 per year and who are not already enrolled in an occupational pension scheme, to be automatically enrolled into the new AE system.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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