Auto enrolment is being brought to Ireland
By April 2018 auto enrolment will affect almost all employers in the UK. There has been an increase in the level of awareness that automatic enrolment is an ongoing responsibility with a number of continuous duties to be completed by employers.
In Ireland, Taoiseach Leo Varadkar hopes to introduce automatic enrolment by 2021. Varadkar recently announced that the Government will publish a five year roadmap for pension reform before the end of the year.
Currently in the UK, employers must complete a number of auto enrolment duties in order to remain fully compliant with the law. These include record keeping, ongoing employee assessment and enrolling staff after the staging date. Ultimately the responsibility of auto enrolment lies with the employer and they must ensure to avoid auto enrolment fines.
In Ireland, there will be an introduction of similar workplace pension legislation for private sector workers, two-thirds of whom currently have no occupational pension to supplement their state pension.
The first payments are expected to be made into new individually held funds by 2021.
Written by Holly McHugh | BrightPay Payroll Software