About 800,000 people, who are not currently members of pension schemes, will be brought into the net via auto enrolment. Photograph: iStock
The introduction of auto-enrolment (AE) from January 1st is one of the most significant Irish policy developments in a generation.
Every worker in the State will now have the opportunity to contribute to a pension and save towards a better retirement. In practice that means about 800,000 people, who are not currently members of pension schemes, will be brought into the pension savings net.
Amid Ireland’s oft-discussed demographic challenge, this is a welcome step. With people living longer, and the birth rate on a downward trajectory, Ireland has a job to do to ensure adequate retirement cover for its ageing population
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