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Ireland’s Auto-Enrolment Pension Scheme: A Guide to Securing Your Financial Future After Retirement

In an era where financial planning for retirement has become increasingly crucial, Ireland’s auto-enrolment pension scheme stands out as a beacon of hope for many. With its aim to promote a culture of proactive financial planning by ensuring that all workers have access to a pension plan, it promises a more secure future for the workforce. However, navigating this scheme can be daunting for those unfamiliar with its intricacies. Our guide aims to shed light on the auto-enrolment pension scheme in Ireland, providing clarity and guidance for individuals looking to secure their financial future.


Understanding Auto-Enrolment:

Auto-enrolment is a new pension savings scheme for certain employees who are not paying into a pension. They will be automatically included in the scheme but can opt out after 6 months. Under the scheme, the employee, employer and Government all pay a certain amount in the employees’ pension fund. The Government aim to introduce auto-enrolment to the Irish workforce in late 2024.


Who will be automatically enrolled?

You will be automatically enrolled in the new pension plan if you are an employee and:

  • You are between the ages of 23 and 60.
  • You are not currently part of a pension plan.
  • You earn €20,000 or more per year.


How much do I pay?

The amount you pay will be calculated as a percentage of your qualifying earnings. Your employer will match your contributions and the Government will contribute an additional amount. You cannot pay more or less than the set rate.

The table below sets out the rates you, your employer and the Government will pay.

Employee Contribution Rate Employer pays
Government pays
1 to 3 1.5% 1.5% 0.5%
4 to 6 3% 3% 1%
7 to 9 4.5% 4.5% 1.5%
10 and after 6% 6% 2%

Citizens Information. (2023).


Navigating Auto-Enrolment

The auto-enrolment pension scheme in Ireland represents a significant milestone in the journey towards securing financial stability in retirement for the workforce. By understanding the key features of the scheme, eligibility criteria, and contribution obligations, individuals can navigate the scheme with confidence. Remember to regularly review your pension arrangements to ensure they remain aligned with your retirement goals. The opt-out option provides employees with the flexibility to choose alternative retirement planning strategies if they deem it necessary. With careful planning and diligence, you can build a secure financial future for yourself and your loved ones.

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