Many Irish workers unaware of new auto-enrolment pension scheme starting in September 2024.

Over a quarter of Irish workers without occupational pensions are unaware of the government's upcoming auto-enrolment retirement savings scheme, set to launch in September 2024. The scheme targets those aged 23 to 60 earning at least €20,000 annually. Contributions will start at 1.5% from both employers and employees, gradually rising to 6% and 2% by 2034. Awareness has risen to 28% in 2024 from 18% in 2023, with 78% of those aware saying they would stay in the plan. Currently, 67% of workers have some pension coverage, but it's highest among 45-54 year-olds and lowest among younger workers.

3 months ago
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