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On July 9, 2024, Ireland enacted the Automatic Enrolment Retirement Savings System Act. Starting in 2025, employees and employers will each contribute 1.5% of gross earnings, with a 2% state top-up. Contributions will increase triennially, reaching 6% from employees and employers, plus 2% from the State by 2034. This scheme is more ambitious than the UK's, aiming to bolster retirement savings.
On July 9, 2024, the Automatic Enrolment Retirement Savings
System Act 2024 was signed into Irish law.
The scheme is more ambitious than its current UK counterpart as,
starting in 2025, employees will contribute 1.5 per cent of their
gross earnings, to be matched by their employer, and topped 2 per
cent up by the State.
These rates will gradually increase every three years, reaching
a maximum contribution rate of 6 per cent per employee, 6 per cent
per employer, plus 2 per cent from the State, from 2034
onwards.
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