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New automatic pension for all

All Irish workers will most likely be automatically enrolled in a new private pension. ItÂ’s being p...
TodayFM
TodayFM

1:29 PM - 18 Jul 2016



New automatic pension for all

News

New automatic pension for all

TodayFM
TodayFM

1:29 PM - 18 Jul 2016



All Irish workers will most likely be automatically enrolled in a new private pension.

ItÂ’s being put forward by the Pensions Authority, in new proposals to encourage more young people to save for retirement.

Around half of Irish people are currently relying only on the state pension, which pays out around 230 a week.

The Social Protection Minister Leo Varadkar says that’s not sustainable.

He says it’s most likely that all workers would be automatically enrolled in the new scheme, but would have the ability to opt-out.

Helen Vaughan reports.



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