We would like to keep you informed on the Automatic Enrolment Retirement Savings System. Please click below to read the final design of the system which was announced on the 29 March 2022 by Heather Humphreys Minister of Justice, Social Protection, Community and Rural Development.
The system will be phased in.
All employees not already in an occupational pension scheme, aged between 23 and 60 and earning over €20,000 across all their employments, will be automatically enrolled.
The system is due to be set up by 2023 with the first employee enrolments taking place in 2024.
Both employer and employee contributions will start at 1.5%,
Employees will have a range of four retirement savings funds to choose from.
The document sets out in greater detail everything you need to know. If you have any questions or queries, please do not hesitate to contact Osborne Financial by email at info@osbornefinancial.ie