Pensions

Cabinet to approve auto-enrolment pensions scheme

Long-awaited scheme will impact 800,000 workers in the private sector

Heather Humphreys: “Most people find when they retire, that they don’t have any pension provision, there’s a cliff edge drop in their income.” Picture: Leah Farrell / © RollingNews.ie

A scheme that will see 800,000 private sector workers automatically enrolled in a pension is to be approved by cabinet today.

Heather Humphreys, the minister for social protection, has set out how she will introduce the long-awaited scheme that will see the workers automatically signed up for a pension.

The scheme will involve the state contributing €1 to every €3 a worker puts into their pension pot, with employers also contributing €3 to match the ...