Best pension scheme future may lie with auto-enrolment

An auto-enrolment pension scheme for all employees may be the most effective way of ensuring that there are adequate provisions in place for low and middle income workers upon retirement, according to a comprehensive report commissioned by the Department of Social Welfare and Protection.

The contents and recommendations of the report will be reviewed today by the Oireachtas Joint Committee on Education and Social Protection.

“The main aim of automatically enrolling people into a pension scheme is that it increases occupational pension coverage and overcomes the problem of inertia.