Pensions expert calls for auto-enrolment age and income cut-off to be lowered
Ray McKenna, partner at pension specialist Lockton, said current thresholds meant women in particular would miss out on help to save adequate retirement income
The income and age thresholds for the country’s auto-enrolment pension scheme should be lowered, an industry expert has said. The scheme, due to be rolled out from January 1 next year, is targeting the 725,000 workers in Ireland with no private pension.
Every worker from the age of 23 on a salary of over €20,000 will be automatically “opted-in” to the scheme, a method which has been found internationally to be more effective than asking ...