This system ensures greater retirement security while easing the administrative burden for employers.
Many employees do not have a pension scheme, which means that they will be relying on the state pension when they retire. While the state pension can make sure that retired people stay above the poverty line, most people are used to having more money to live on.
More Money for Your Retirement
Auto Enrolment (AE) contribution set as a % of the employee's gross earnings
(up to €80,000) will be phased in as follows:
2025-27 1.5% employer and employee government top-up 0.5%
2028-30 3.0% employer and employee gov top-up 1.0%
2031-33 4.5% employer and employee gov top-up 1.5%
2034 onwards 6.0% employer and employee gov top-up 2.0%
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Pension Coverage for More People
Auto Enrolment details the requirement for employers to enrol employees between 23 and 60 earning more than €20,000 per annum, who are not already part of an occupational pension scheme or a PRSA.
Simple and Flexible
The system is easy to join with phased contributions, and you can pause or leave the scheme if needed. You’ll be automatically re-enrolled after two years if eligible. Know the difference between Automatic Enrolment and Defined Contribution Scheme or a PRSA e.g. employee contribution to AE does not qualify for income tax relief, pension age is State Pension age currently 66, voluntary early access to benefits not allowed, choice of investment funds limited.
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Planning Your Pension? Here's How a Financial Advisor Can Help
Financial decisions can feel overwhelming, but a financial advisor turns uncertainty into clarity. With our expert guidance, you’ll feel confident and ready to take control of your future.
Clarity & Knowledge On Your Financial Situation
Understand your financial situation and the steps needed to move forward.
Greater Financial Confidence
Feel secure knowing your finances are on the right track.
Informed Financial Decisions
Make smarter, more strategic choices with expert advice tailored to your goals.
Clear Financial Plan for The Future
Have a detailed, actionable roadmap to achieve your retirement goals.
Client Testimonials
At Quigley Financial Brokers we are dedicated to helping our clients figure out the best pension plan for a healthy and sustainable pension in retirement.
What Difference Will Good Financial Advice Make?
* The Value of Financial Advice, 2016 PIBA / Standard Life
**Econometrics Models on the value of advice of a financial advisor, July 2016 Canada Cirano
