Ireland. New setback feared for auto-enrol pension plan
Fresh doubts have emerged about the commitment of the Government to introduce a pension scheme for almost one million private sector workers. Six out of 10 private sector workers have no private or occupational pension.
The Government has committed to have an auto-enrolment pension system in place from 2022 for these workers. But no money was allocated in Budget 2020 to set up a key piece of infrastructure to deliver auto-enrolment.
Plans for an auto-enrolment pension scheme have been talked about for 15 years. Last year, Social Protection Minister Regina Doherty set out a number of deadlines to ensure the new mandatory scheme was in place from 2022.
But pension consultant Mercer pointed out in post-Budget comments: “While conscious of the challenges in setting a Budget in the midst of Brexit uncertainty, it was disappointing that private pension provision did not directly feature.
“The Government has set out plans to introduce auto-enrolment by 2022, a development which has the capability to transform the Irish pensions landscape.
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