{"id":176601,"date":"2025-12-09T22:03:07","date_gmt":"2025-12-09T22:03:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/176601\/"},"modified":"2025-12-09T22:03:07","modified_gmt":"2025-12-09T22:03:07","slug":"more-than-24400-employers-have-signed-up-for-pensions-autoenrolment-scheme-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/176601\/","title":{"rendered":"More than 24,400 employers have signed up for pensions autoenrolment scheme \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \">More than 24,400 employers, with an estimated 315,000 workers between them, have signed up for the new My Future Fund pensions autoenrolment scheme, the Cabinet has been told.<\/p>\n<p class=\"c-paragraph paywall \">Minister for Social Protection <a href=\"https:\/\/www.irishtimes.com\/tags\/dara-calleary\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/dara-calleary\/\">Dara Calleary<\/a> briefed colleagues on the scheme, which is due to begin on January 1st.<\/p>\n<p class=\"c-paragraph paywall \">Mr Calleary outlined how there will be a 55c per week fee for employees that participate in the scheme. This fee will be in place to fund the agency overseeing My Future Fund, the <a href=\"https:\/\/www.irishtimes.com\/tags\/national-automatic-enrolment-retirement-savings-authority-naesra\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/national-automatic-enrolment-retirement-savings-authority-naesra\/\">National Automatic Enrolment and Savings Authority<\/a>, and it is due to rise in line with the Consumer Price Index every five years.<\/p>\n<p class=\"c-paragraph paywall \">The portal for employers to register opened on December 1st, with some 24,400 signing up so far.<\/p>\n<p class=\"c-paragraph paywall \">The estimated 315,000 workers is more than 40 per cent of the 770,000 workers without private pension arrangements that the Government hopes the  scheme will cover. <\/p>\n<p class=\"c-paragraph paywall \">Under My Future Fund, all employees not already in an occupational pension scheme, aged 23-60 and earning more than \u20ac20,000 a year, will be automatically enrolled. <\/p>\n<p class=\"c-paragraph b-it-article-body__interstitial-link\">[\u00a0<a aria-label=\"Open related story\" class=\"c-link\" href=\"https:\/\/www.irishtimes.com\/your-money\/2025\/11\/21\/auto-enrolment-ireland-what-long-delayed-pension-reform-means-for-workers-and-future-funds\/\" rel=\"noreferrer nofollow noopener\" target=\"_blank\">Auto-enrolment Ireland: What long-delayed pension reform means for workers and future fundsOpens in new window<\/a>\u00a0]<\/p>\n<p class=\"c-paragraph paywall \">It will be phased in over a decade, with employer and employee contributions each starting at 1.5 per cent and increasing every three years by 1.5 per cent until they reach 6 per cent by year 10. <\/p>\n<p class=\"c-paragraph paywall \">The State will top up contributions by \u20ac1 for every \u20ac3 saved by the employee. That State top-up is designed to compensate for the lack of tax relief on employee contributions.<\/p>\n<p class=\"c-paragraph paywall \">Membership will be compulsory for the first six months, after which employees can choose to opt out. <\/p>\n<p class=\"c-paragraph paywall \">Those who opt out will be automatically re-enrolled after two years. That process will repeat every two years in the hope that employees will eventually choose to remain in membership.<\/p>\n","protected":false},"excerpt":{"rendered":"More than 24,400 employers, with an estimated 315,000 workers between them, have signed up for the new My&hellip;\n","protected":false},"author":2,"featured_media":176602,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,88211,268,85,46,59557,2955,266,267],"class_list":["post-176601","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-dara-calleary","tag-finance","tag-il","tag-israel","tag-national-automatic-enrolment-retirement-savings-authority-naesra","tag-pension","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/176601","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=176601"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/176601\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/176602"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=176601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=176601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=176601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}