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Concern Raised Over Auto Enrolment Pension Scheme

File image: Rolling News

The plan, due to come into effect in 2024

There are concerns the new pensions auto-enrolment scheme could widen the pension gender pay gap.

Irish Life and The Pensions Authority will appear before the Joint Oireachtas Social Protection Committee today.

The plan, due to come into effect in 2024, will see workers automatically signed up to a scheme where for every €3 they save, their employer will match their contribution and the State will contribute €1.

The Pensions Authority will urge the government to introduce pension auto-enrolment as soon as possible.

Irish Life will tell the committee the plan will put women in a worse position than those within existing workplace pension schemes.

Committee Chair Denis Naughten says TDs and Senators have worries over who will run the scheme:

 

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