Low awareness of pensions legislation: survey

47% of Irish business managers claim to be unaware of the impact of the Pensions Amendment Act 2002 on their business, according to a survey by Deloitte & Touche.

The Act, which became law in April 2002 affects all employers, regardless of size and whether or not they provide a pension scheme for their employees. It obliges employers to provide mandatory access to at least one standard Personal Retirement Savings Account (PRSA) by September 2003.