New retirement bill to radically improve Irish pensions market

Employees will need expert advice when looking at their pension options once auto-enrolment is introduced, says Caitriona MacGuinness, DC Pension and Private Wealth Leader for Mercer Ireland

Pensions auto-enrolment:  Required contributions will start at a low level, rising on a phased basis over the first 10 years.

In a few weeks, a new retirement savings Bill is expected to be published that will set out Government plans for radical change to the occupational pensions system in Ireland. 

In 2024, when the Bill is expected to pass, mandatory retirement saving will apply for the very first time, with significant implications for many employers and employees.