Ireland: Pensions Auto-Enrolment Scheme Delayed Introduction Until 30 September 2025, with State Body to be Established On 31 March 2025

The Minister for Social Protection has signed the commencement order that will see the first enrolments of the Pensions Auto-Enrolment Scheme, which will be referred to as “My Future Fund” beginning 30 September 2025.  The introduction of the Pensions Auto-Enrolment Scheme was due to commence in January 2025 but has been pushed back to September 2025 to give all stakeholders involved, including employees, their employers, payroll developers and providers, time to make the necessary preparations and adjustments to their systems and their processes to facilitate the implementation of Pensions Auto-Enrolment and to budget accordingly.

A separate commencement order will be provided on 31 March 2025 from the new National Automatic Enrolment Retirement Savings Authority (NAERSA). The establishment of NAERSA will ensure the Board and Executive Management has 6 months to oversee the implementation of the various arrangements and systems ahead of the introduction of the Pensions Auto Enrolment System on 30 September 2025.

The Pensions Auto-Enrolment Scheme will apply to workers between the age of 23 and 60 who are employed but not enrolled in an occupational pension scheme.  The scheme will see employee contributions matched by their employer, as well as a further top-up from the State.  Employees will be able to opt out of the scheme in months 7 and 8 following enrolment.  The purpose of the Pensions Auto-Enrolment Scheme is to provide a scheme whereby employees can start contributing to their pension earlier in order to ensure that individuals are not just left with the State pension when they retire.