"Hey there, everyone! 🚀 Today, I’m here to talk about something super important—and honestly, it could be a game changer for workers in Ireland. Whether you love numbers or hate them, you need to know about Ireland’s new auto-enrollment pension scheme! This big change is set to roll out on **September 30th, 2025**, and trust me, you don’t want to miss this. So grab a cuppa, settle in, and let’s break it down in simple terms!
"Okay, so here’s the deal. The Irish government just passed a law to automatically enroll employees into a state-run pension scheme. Sounds fancy, right? But what does it actually mean for you? Well, if you’re aged *23 to 60 years old* and earning **€20,000 or more a year**, you’re in. No paperwork, no hassle—you’ll be automatically signed up. Simple, isn’t it?"
"Now, some of you might be thinking, ‘Wait, I don’t even have a workplace pension right now.’ Exactly! That’s why this scheme is being introduced. There are about **750,000 employees in Ireland**—mostly in industries like retail and tourism—who aren’t saving for retirement through their jobs. This new scheme is here to change that."
"Let’s get into the nitty-gritty. Under this scheme, employees, employers, and the government will all contribute to your retirement pot. Here's how the contributions are phased in over ten years:"
*Years 1–3:* You and your employer will each contribute *1.5%* of your salary, and the government will add *0.5%.*
*Years 4–6:* Contributions rise to *3%* from you and your employer, with the government pitching in *1%.*
*Years 7–9:* These go up again to *4.5% each**, and the government adds **1.5%.*
*Year 10 onwards:* Finally, you and your employer contribute *6% each**, while the government adds **2%.*
"Think about it—this means for every €3 you contribute, the government adds €1. And your employer matches your contributions too! That’s free money toward your future. You really can’t beat that deal."
"Let’s do some quick math. Say you’re earning *€40,000 a year* by 2034. If you and your employer each contribute 6%, that’s €2,400 from you and €2,400 from your employer—plus €800 from the government. That’s *€5,600 every year* going into your pension. Not too shabby, right?"
"But hey, this doesn’t just affect employees. Employers, you’ve got some homework to do, too. If you already offer a pension plan, great! Your employees won’t be auto-enrolled in the government scheme. But you might need to review and adjust your policies to keep up with the new rules."
"And for those employers who don’t offer a pension plan? Now’s the time to decide. Do you stick with the government’s auto-enrollment scheme, or set up your own company plan? Each option has its pros and cons, so be sure to weigh them carefully."
"Let’s talk flexibility. If you’re an employee, you’ll have the option to opt out after six months. But here’s the catch—if you do, you’ll be automatically re-enrolled every two years. So even if you step away, the system keeps nudging you back in. It’s a clever way to keep everyone saving for the future."
"Employers, this isn’t just about contributions. You’ll need to prepare your *payroll systems**, **review contracts**, and most importantly, **communicate with your team.* Your employees need to know how this works, why it matters, and what their options are. Clear, simple education will be key."
e more thing—death benefits. The government plan doesn’t include them. So if you want your team to have that extra security, you’ll need to set up a separate plan. It’s just something to keep in mind."
So, what’s the bottom line? This scheme is a massive step toward securing better retirement savings for Irish workers. Whether you’re an employee or an employer, now’s the time to start planning. Employees, get ready to save—and employers, make sure your business is auto-enrollment ready."
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