Mark Peters speaks with Karl Fitzpatrick of Business Matters on auto enrolment pension schemes.
Listen back to our Director Mark Peters speaking with Karl Fitzpatrick on Saturday morning (24th August). The interview previews the rollout of auto-enrolment pensions next year.
Did you know that one in three employees in Ireland do not have a pension?
The rollout of auto enrolment pensions from January next year will affect many of us.
Discover the criteria for:
- Determining which employees will be auto-enrolled
- Why employers and employees need to start preparing for auto-enrolment pensions now.
From January 2025:
- Employees aged 23 and 60 years of age earning over 20,000 gross per annum will be auto enrolled.
- The new scheme will see employees contribute 1.5% of their salary to a pension
- This amount is to be matched by the employer.
This is the time for employers to begin planning for this scheme and the administration of same. This includes those who are automatically included and those who later opt out. There are also options for those without pensions who do not meet the above criteria to opt in. Because of this, the new structure will require employers to dedicate more time to administration and to payroll.
Mark Peters, Director of Kinetic Financial, gives his view on how best to prepare for the auto enrolment pension scheme.
Listen back here on Spotify here or watch the video below:
You can get in touch with the Kinetic Financial Team for expertise across:
- Planning for retirement and the drawdown of your pension
- Advice on potential savings through tax refunds, credits and reliefs
- Help in the creation of a will, setting up trusts, and making decisions about who will inherit your wealth
- How AVCs can potentially increase your retirement benefits
Let us help you plan the financial future you deserve.