Pension firms back automatic scheme for all workers

Pension firms have welcomed government moves to introduce a new auto-enrolment scheme for all workers.

It comes after Social Protection Minister Regina Doherty said there will be no discrimination in the new pension scheme proposed by Taoiseach Leo Varadkar.

While the full details of the scheme will not be announced until later in the year as part of a wider national pensions plan, it is understood contributions will be split in three, with the employer likely to contribute one third, workers paying one third, and the State putting in the balance.