What does the new auto-enrolment pension scheme mean for me? 

The Cabinet has approved the introduction of a plan to make it mandatory for employees between the ages of 23 and 60 to enrol in a pension scheme if earning more than €20,000.

The Cabinet’s approval of its much-delayed auto-enrolment pension scheme is a significant milestone, aimed at defusing the mounting pensions time bomb the country is facing.

Launching the plan, Social Protection Minister Heather Humphreys said the system would be clear and simple for both employees and employers to operate and would enable 750,000 people currently without a pension to get one.