Auto-enrolment pension scheme to begin in September 2025
The Government’s new auto-enrolment pension scheme will begin on 30 September 2025.
The new start date was agreed by the Cabinet this week, and revealed by the Minister for Social Protection Heather Humphreys speaking on RTÉ’s This Week programme.
The scheme will mean that 800,000 workers will be automatically added into a private pension scheme, in addition to their State pension.
According to a 2023 survey by the Central Statistics Office, 32% of workers aged between 20 and 69 are not signed up to a private pension.
Without a change, hundreds of thousands of workers would be reliant solely on their State pension when they retire.
Under the scheme, employees will contribute 1.5% of their gross salary during their first three years of paying in.
That will rise to 3% from the third year on, 4.5% from year six on, topping out at 6% from the tenth year onwards.
Minister Humphreys said the full details of the scheme would be announced in the Budget on Tuesday.
“This will give businesses certainty, and will give a full year’s lead in time for employers, which is fair,” she said.
“People will have more money, more comfort in their retirement. It’s good for the economy, good for businesses, and good for society.”
Article Source – Auto-enrolment pension scheme to begin in September 2025 – RTE
