State to top up private pensions under new auto-enrolment scheme

Social Protection Minister Heather Humphreys is to unveil a supplementary pensions retirement savings system. Picture: Gareth Chaney/Collins

A new 'SSIA-style' auto-enrolment scheme for pensions will be unveiled by the Government on Tuesday.

Under the supplementary pensions retirement savings system, to be announced by Social Protection Minister Heather Humphreys on Tuesday, some 750,000 workers aged 23 to 60 who earn over €20,000 will be automatically enrolled in a pension scheme through a new agency called the Central Processing Authority at the beginning of 2024.