Plans to auto-enrol workers in pension schemes was announced last month. It will apply to all employees aged between 23 and 60 earning more than €20,000 a year and not already in a workplace pension scheme. They will start paying contributions equal to 1.5% of salary, rising to 6% of salary in their tenth year of employment.
But…. Thousands of people are set to lose out on the State’s new auto-enrolment pension scheme, which is already being heavily criticised for being years behind schedule. Around 700,000 people who should be opted into the new system look set to be excluded.
If you are / are not in this auto enrol and you need advice, book a consultation today with one of our Qualified Financial Advisors today! You will be glad you did.
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