Auto-Enrolment ' What We Know So Far

• Published date: 02 April 2024
• Law Firm: Arthur Cox
• Author: Mr Philip Smith, Sarah McCague and Daniel Watters

This note sets out a brief summary of what we know about the proposed system so far, where the legislation is currently at, what other steps towards auto-enrolment have been taken and whether action can be taken now by employers.

BRIEFING

The introduction of a Statewide auto-enrolment ("AE") pension system has been on the cards in Ireland since 2006, when the then Minister for Social and Family Affairs first published AE proposals. Despite being on the Government's to do list since the mid-2000's, the introduction of AE has picked up significant pace over the last 12 months.

When will AE be introduced?

It is currently anticipated that AE will be introduced in Ireland in the latter half of 2024. Heads of Bill were published in October 2022. The Automatic Enrolment Retirement Savings System Bill is listed for priority publication in the Government's Spring 2024 Legislative Programme. Pre-Legislative Scrutiny was completed in June 2023. Minister for Social Protection, Heather Humphreys stated, at the National Pensions Summit, that the terms of the legislation itself will be published in March 2024, and begin its passage through the Oireachtas immediately thereafter. The legislation has not been published to date but it is understood the Minister will seek Cabinet approval for the draft legislation on Wednesday 27 March 2024.

Have any other steps been taken towards AE?

The Minister has made a number of public statements in recent...