The new auto-enrolment pension scheme is to be called My Future Fund. The Australian auto-enrolment system is called the Super, while the New Zealand version is called Kiwi Saver. The scheme will mean that 800,000 workers will be automatically added into a private pension scheme, in addition to their state pension. This new state agency will manage the auto-enrolment pension system and will be in place by the end of next March, she said. Without a change, hundreds of thousands of workers would be reliant solely on their state pension when they retire.

Source: Irish Independent October 07, 2024 12:07 UTC