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Are employers in Ireland legally obliged to provide a pension scheme for employees?

Managing HR is challenging at the best of times! We are here to answer your queries and provide up to date HR advice on what is impacting businesses today.

Welcome to our weekly Q&A – if you have a question email us at info@voltedge.ie.

Are employers in Ireland legally obliged to provide a pension scheme for employees?

Currently in Ireland there is no requirement, however employers are obliged to provide employees access to a PRSA – Personal Retirement Savings Account. Employers must facilitate this through payroll enabling employees to pay into their own personal pension.

The introduction of automatic enrolment is on the cards however it has been delayed until at least 2023. When this is eventually introduced, it will mean that both employers and employees will be required by law to make contributions to a workplace pension scheme.

Details of the scheme are still being ironed out by Government and it is hoped it won’t be delayed further.

This week is Pensions Awareness Week. You can join them for free financial information to help you invest in and secure your financial future.

 

Need more help? Voltedge Management team can help you to get advice on all aspects of human resources and management. Email Ingrid at info@voltedge.ie or ring our offices at 01 525 2914.

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