Ireland. From 2022, workers will be ‘auto enrolled’ on pension savings schemes
On a very snowy day for many parts of the country, the government has announced major changes to the pensions system in Ireland, with an automatic enrollment system one of its key features.
From 2020, a new State pension system will come into place based on a “total contributions approach” where a person’s lifetime contribution will more closely match the benefit they receive.
In the future, the government will aim to keep the state pension at a level of 34% of average earnings, and said it will increase the pension in line with changes to average wages and/or the consumer price index.
Read More: The Journal
