• The auto-enrolment retirement savings scheme (AE) will launch on 30 September 2025, providing workers with access to a workplace pension to supplement income in retirement.
• AE is an opt-out scheme, meaning employees will be automatically enrolled and can choose to opt-out after 6 months. Contributions will be refunded if they opt-out, and they will be re-enrolled after 2 years if still eligible.
• Employee contributions will be a percentage of salary, increasing up to 6%, matched by the employer, with the Government providing a top-up. Earnings are capped at €80,000 for calculating contributions.
• AE will follow a pot-follows-member approach, allowing employees to bring their pension with them from job to job.
• Employees already contributing to a workplace pension will not be enrolled in AE. Workplace pensions will be measured against AE to determine the best option for the employee.

Reach out to FDC financial advisors for personalised advice and assistance in planning for retirement savings and understanding the auto-enrolment scheme.

To read the full article and learn more about the auto-enrolment retirement savings scheme, visit the Southern Star website.

FDC Financial Services Ltd is regulated by the Central Bank of Ireland.