‘Automatic’ sign up to pension fund on cards

The brakes could be put on potential pay rises for private sector workers if they are automatically signed up to a personal pension savings fund.

Social Welfare Minister Leo Varadkar has said he is considering an automatic pension fund contributory charge for workers, styled on similar ones in Britain or Australia.

The move is to counter the situation where only one in three private sector workers are contributing to a personal pension fund amid fears of a pensions’ timebomb.