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Concerns over pension auto-enr...

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Concerns over pension auto-enrolment scheme

RedFM News
RedFM News

09:30 18 Jan 2023


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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.

"Many members of the Committee fell this should be run and controlled by the National Treasury Management Agency, or a similar agency within government that is managing substantial funds for the state, rather than going out to the private sector."


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