Auto Enrolment is Coming in Q4 2025 and employers and employees need to be prepared and plan for the impact
On the 5th of April 2024, Minister Heather Humphries announced the Auto Enrolment Retirement Savings System Bill 2024, which after the rollout of Budget 2025, is expected to come into effect from 30th September 2025.
The introduction of Auto Enrolment is generally to be welcomed – Ireland will be the last OECD country to implement an Auto Enrolment type pension scheme and when it starts it will go a long way to deal with one of the main pension problems in Ireland, that of pension coverage.
There is still however, a level of confusion and uncertainty regarding the scheme, with the latest insights pointing to over 2/3rds of businesses being apprehensive about the scheme. Employers need to consider the impact of Auto Enrolment, and this will vary depending on whether they already operate a pension scheme for their employees or not.
Our team of CERTIFIED FINANCIAL PLANNERS™ are on hand to help you as a business owner navigate through this journey, giving you comprehensive and tailored advice- get in touch today.
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