A new auto-enrolment retirement savings system is in place, as companies re-open after the Christmas and New Year break.

Employees who are not already in a pension scheme, earn more than €20,000 per year, and are aged between 23 and 60 will be automatically enrolled into the new system.

For every €3 that an employee puts in, the employer will also put in €3 and the State will top this up by €1.

 

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