Employers face fines up to €50,000 for failing to join auto-enrolment pension scheme

Up to 750,000 workers are set to be enrolled as MyFutureFund launches, with penalties for employers who fail to comply

Dara Calleary with NAERSA board chairwoman Roma Burke and CEO Dermot Griffin. Picture: Maxwell's

The Government has vowed to crack down on employers who do not sign up for the new auto-enrolment pension scheme, "getting tough" with fines of up to €50,000 for those who ignore the new laws.

Auto-enrolment, known as MyFutureFund, should see all workers earning over €20,000 aged between 23 and 60 who do not have pension coverage signed up to the Government's scheme, which begins on January 1.