Pensions

Firms warned to avoid being auto-enrolled in Government’s mandatory pension scheme

An expert’s view: the problems with new pension auto-enrolment rules and how firms can adapt

Nick Charalambous, Alpha Wealth managing director: ‘Employers need to take the bull by the horns.’ Picture: John Allen

Irish businesses face the prospect of major headaches next year with the rollout of landmark pension rules that will automatically sign up most workers to a retirement savings scheme, a financial expert has warned.

Nick Charalambous, managing director of Alpha Wealth in Co Cork, said the government’s new pension auto-enrolment rules came with “many disadvantages”, and urged employers to set up their own schemes before the new system is implemented.

The new pension auto-enrolment rules ...