Some 800,000 private sector workers could be automatically enrolled in a pension under a proposal being brought before Cabinet today.
It will work similarly to the old SSIA scheme, whereby for every €3 a worker puts in, their employer will match it, and the State will top it up by €1.
If approved by the government, it's believed the Automatic Enrolment Retirement Savings System Bill will begin its passage through the Oireachtas after the Easter recess.
It's understood Social Protection Minister Heather Humphreys wants to have it enacted as quickly as possible, so the first contributions can begin on January 1st, 2025 – while the existing State Pension will remain unchanged.
Cabinet Ministers at Áras an Uachtaráin. Picture by: Government Press OfficeAll employees who are not already in an occupational pension scheme and who are aged between 23 and 60 and earning over €20,000 across all of their employments will be automatically enrolled.
Also due before Cabinet this morning, Health Minister Stephen Donnelly will provide an update on the 2024 Waiting List Action Plan.
Housing Minister Darragh O'Brien, Higher Education Minister, and incoming Taoiseach Simon Harris will also look for approval to ensure student accommodation contracts are confined to the academic year only.
Main image: Minister for Social Protection Heather Humphreys arriving at Dublin Castle for a Cabinet meeting. Picture by: Sasko Lazarov / RollingNews.ie
