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ARTICLE · 03 MAY 2022

Ireland's New Pensions Auto-Enrolment System

On 29 March 2022 the Department of Social Protection published the Final Design Principles for the introduction of a pensions auto-enrolment system in Ireland. In the foreword to the publication,...

IrelandEmployment and HR

On 29 March 2022 the Department of Social Protection published the Final Design Principles for the introduction of a pensions auto-enrolment system in Ireland. In the foreword to the publication, Minister Heather Humphreys stated that:

"the introduction of auto-enrolment represents a change from a system whereby employers may, or may not, make provision for a workplace pension scheme to one where every worker will have access to a workplace pension."

Link to the full text of The Design Principles for Ireland's Automatic Enrolment Retirement Savings System

Under the system, employees earning €20,000 or more and aged between 23 and 60 who are not currently enrolled in a workplace pension scheme will automatically become a member of the auto-enrolment scheme. The employee, their employer and the State will contribute to the scheme, with contributions (based on a percentage of gross income) increasing on a phased based over the first ten years after introduction

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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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