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THE LONG AWAITED pension auto-enrolment scheme for workers is set to kick in on 30 September 2025.
Social Protection Minister Heather Humphreys made the announcement yesterday as part of Budget 2025.
Speaking in the Dáil today Humphreys described the scheme as a “generational reform”.
She also announced today that the Pay Related Benefit scheme, which will see workers who lose their job entitled to up to €450 or 60% of their salary, will kick in from 31 March 2025.
“This week, I will sign the commencement orders to ensure that there can be no going back and they will become a reality in 2025,” Humphreys told the Dáil.
When asked about the delay with the scheme by The Journal during a press conference yesterday, Humphreys said: “We’re giving businesses a year lead in time, because there have been concerns about further expenses on businesses.”
The scheme will apply to almost 800,000 workers between the age of 23 and 60 who are employed but not enrolled in an occupational pension scheme, and drawdown will be aligned with the State Pension.
The landmark scheme is being targeted to this cohort to allow them to begin saving for their pension earlier and to ensure that people are not left on just the State pension when they retire.
The scheme will see employees contribute into the pension pot, with their contributions matched by their employer, as well as a further top-up from the State.
So, if an employee were to pay in €3 to their pension pot, their employer must match their contribution and put in €3, while the State provides a €1 top-up.
For every €3 an employee puts in, they will end up with €7 in their pension pot.
All employees who are not already in an occupational pension scheme, and are aged between 23 and 60 and earning over €20,000 across all of their employments, will be automatically enrolled under the new legislation.
It will be possible for workers to opt out of the scheme if they wish or to suspend their contributions, after six-months mandatory participation.
Where a worker opts-out or suspends their contributions, they will be automatically re-enrolled after two years, after which they may opt-out or suspend again after a further six-months mandatory participation.
The scheme will be gradually phased in over the course of a decade.
Employer and employee contributions will start at 1.5% of gross salary for years 1-3, and rise to 3% in years 3-6, to 4.5% in years 6-9, and to the maximum contribution rate of 6% from year 10 onwards.
With reporting from Diarmuid Pepper.
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No toys anymore
@Fintan Pox: Don’t let your children be confused/harmed by the boots advertisement during what is supposed to be a children’s show that has a man made up as a woman.
Wonder how much the ‘toy show appeal’ goes to RTE staff
@Fintan Pox: what charities receive and how much get featured in various news articles.
For example, Journal wrote about the 2021 appeal funds being applied here https://www.thejournal.ie/late-late-toy-show-appeal-grants-5790404-Jun2022/
@Fintan Pox: poxy comment
Is a boy’s bicycle acceptable to buy for a girl, she might not like it, and want to choose her inner self over material stuff
@Fintan Pox: Weirdo
@Anthony Curran: why am I a weirdo?
@Fintan Pox: because you write a semi-coherent comment that has nothing to do with the article. Which suggests you live in some world which so preoccupies you that you are incapable of recognising relevance and just barge around the place yelling ‘my concerns, my concerns’ at the top of your voice.
@Alan: I read that twice, just in case I was reading absolute nonsense, it’s funnier the second time lol
@Fintan Pox: why not read it again then lol. Eventually, you might come around to understanding the post. In the meantime, you could always comment on the article.
@Fintan Pox: Oh Jesus Christ Fintan!
@Fintan Pox: you still banned for going near schools and parks
It’s completely woke now, ruined by the woke brigade. Tragic.
@Basildon Joe: Would you adam and eve it, this cockney has watched the late late…lol twice
@Clare Power: ah to be sure to be sure I love it now you old gee bag
@Basildon Joe: why did it take u so long to reply…looking up the cockney dictionary lol
@Basildon Joe: Another “everything is woke” clown!
@Basildon Joe: you won’t see me with a rainbow flag either. But the toy show isn’t woke, lol. It’s as traditional as it gets.
@James MC: last year they had someone who identified as a ‘cat’ and wore a tail. Then start talking about their sexual orientation as if anyone cares. All this on a kids show is diabolical.
@Maximilian Kolbe: it’s gone too far now, kids talking about being cats. No more I say. Woke woke woke nonsense.
@Anthony Curran: This comment aged well given the first act this year
I’m presuming the fraud squad haven’t caught up with D4orbes for a chat yet?
@Michael o connor: incredible that the show continued without their valuable 400,000€ pa “talent”
It’s all about consumerism, and that’s not what Christmas is supposed to be about.
@Andrew Harrington: end of year celebrations have always included excess.
Your point about consumerism is valid.
I heard Jesus might have been born in September.
Strange world. It’s like permanent distraction is normal.
@offside again: the Brazilian soccer player, he’s with arsenal now?
@offside again: even the Church says it’s not his actual birthday. It’s a celebration of the Son superimposed on a previous pagan celebration of the sun. Jesus is, after all, a sun god. It all just mythology reimagined
@Kevvy kerrr: Bad Gones now. I think Jesus played for Argentina. It seems God was involved as well. It’s so long ago. I thought the English had a good team too.
Jesus might have played for Brazil as well. And turned out for Portugal and Spain. The guy gets around.
@Dermot Blaine: Are you denying that Jesus Christ even existed?
@offside again: if he was Jewish, why does he have a Spanish name?
@Alan: how would I know ?
@Maximilian Kolbe: yep
Never the same since Gay Byrne days
@Frank Mc Carthy: like the article says, nostalgia.
@ecrowley ecrowley: guess they won’t try that ‘toy show musical’ stunt after the € 2.25million loss they ‘generated’ last time round
Dross. I am really annoyed by the exploitation of sick children!
Over analysis. Leave it be.
Definitely not
“Even if you don’t sit down and watch it all, and I cannot think of anyone who does,” … such a self centred condescending comment. I watch it all with the kids and tons of my friends do too. Now you’re making me feel self conscious about it :-(
Tip, Astro night light only 30 Euro, well worth it projects Galaxy on to ceiling.
My grandkids, 8 and 5, have absolutely no interest in it. It’s just a nostalgia trip for parents these days.
@Dermot Blaine: wen tubs was doing it, it became the tubs ego show but much improved last year I thought…more toys and back to basics
@Dermot Blaine: nostalgia for the good old days of half arsed musical numbers and gauche patronising of ill children?
Did the Author say actually Christmas instead of winter holiday. Brendon quick, we have one.
@Dan Murphy: isn’t that ‘Clare power’ account one of brennys??
@Frank Mc Carthy: no frank/kevvy…loving the new saintly you though…straight in with the platitudes on every article….
The way the country is going down the pan these days, I wouldn’t be surprised if Roddy O’Gorman & his best mate Thatchell were due to host it.
I’m an outsider with no kids, and I have been watching it for the past 7 years. I even had the tree up in time just for it, even when having the tree up was too early. I get it.
I would not inflict that innane rubbish on my children.
@Gavan Hogan: I concur, car crash television. Was fine in 80s when the format was just straight forward… TOYS.
Its not about toys anymore..thats all i wanted to see wen i was a kid so not surprised my kids have no interest in it…
It’s pure commercialism. Is Dee Forbes better? Joe Jennings better? I rest my case !
@Ger Byrne: Jim Jennings?
The LLTS is hell. Pure hell. “Talented” boggers and cringe-inducing interactions. Its horrible.
Wtf ? Plastic
It used to be good many years ago. It’s not worth watching now at all, waste of time.
Certainly not age appropriate. Manipulative like all things RTE.
Not much about toys
When will this woke phase pass. Pure rubbish
Agreed it’s garbage. No toys, just farcical musical productions and patronising sludge. Essentially a microcosm of RTE. And why is it on 9:30 in the evening if it’s ’for kids’.
On too late…
@St. Mary’s Special School: I used to feel the same way when my kids were younger. Used to record it, then watch it the following day…!
They are now 10 & 14 and happily stay up late, sit on the couch and still watch it together.
It’s the time spent together looking forward to it and actually watching and laughing in front of telly that counts to me more than anything. It’s a blessing really.
P.S; loved the show! I thought Patrick was natural and so kind to all the kids.
My kinds said it’s boring.
Can i bloxk these stories??
have your say