The implementation of the new Auto-Enrolment Retirement Savings Scheme is now only three months away. My Future Fund will affect 800,000 members of the workforce and every employer in Ireland, but our research has indicated that preparedness among businesses remains worrying low; only 2 in 5 (40%) respondents felt that they had been adequately informed of the steps needed to implement it in time for its January launch.
A new public body, the National Automatic Enrolment Retirement Savings Authority (NAERSA), will administer the auto-enrolment scheme, and we were pleased to note that the NAERSA Board, appointed earlier this month, includes two Chartered Accountants Ireland members.
Equipping businesses with the necessary information in the coming weeks is going to be crucial to making auto enrolment a success. Chartered Accountants Ireland will hold a
free in-person lunchtime event on auto-enrolment on Thursday 16 October at Chartered Accountants House.
The first in our “Trusted Business Leadership: The Chartered Roundtables”, series, this event will feature perspectives from Shane O’Farrell, Director of Workplace Markets, Irish Life Employer Solutions, Tony Culhane, Solution Design Lead, Sage, and Cróna Clohisey, Director of Members and Advocacy, Chartered Accountants Ireland.
The Institute also believes that there is an ongoing need for government to bridge this information deficit and equip businesses with the support and guidance they need as we approach January.
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