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Humphreys will not name date for pensions auto-enrolment launch - because she cannot

06/07/2024 Posted by IAPF | Comments(0)

Auto-enrolment start date has slipped several times before. Now pegged for ‘early 2025′, will it slip again?

Minister for Social Protection Heather Humphreys vowed earlier this year that she’d sit in the Dáil and Seanad “day and night” to get legislation paving the way for a landmark auto-enrolment pensions scheme enacted.

She finally got it through both Houses of the Oireachtas on Wednesday – three months after it was initiated and, crucially, a little over a week before the Dáil summer recess kicks in.

“Automatic enrolment is about sending a clear message to our workers, and in particular to the young workers of today, that we want them to look forward to a secure financial future,” Humphreys said in the Dáil as the Bill passed the final stage before going to the President for signing.

“It has taken nearly 30 years to get this far,” she said of the plan, first mooted decades ago. “But we are here now.”

Not quite. The official press release that her department put out afterwards failed to say when auto-enrolment – aimed at capturing 800,000 workers in the State between the ages of 23 and 60 that are earning more than €20,000 but not currently part of a pension plan – will officially launch.

When questioned by this newspaper, a spokeswoman responded that it “will become a reality in Ireland in early 2025″.

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