CHAPTER 2E

Automatic Enrolment Retirement Savings System

Overview

This Chapter provides for the tax treatment of the Automatic Enrolment Retirement Savings System (AE).

The Automatic Enrolment Retirement Savings System Act 2024 (AE Act) provides the legislative basis for AE, with the legislation governing the taxation elements of the AE scheme set out in the Taxes Consolidation Act 1997. Full details of the AE scheme can be found with the Department of Social Protection. This Chapter is not yet in operation and will commence on such date as the Minister for Finance may appoint by order.

787AE Interpretation

Details

(1) “Act of 2024” means the Automatic Enrolment Retirement Savings System Act 2024.

“AE provider scheme ” has the same meaning as it has in the Act of 2024.

“Authority” means An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir.

“balance” has the same meaning as it has in Part 5 of the Act of 2024.

“contributing participant” has the same meaning as it has in the Act of 2024.

“contribution” has the same meaning as it has in the Act of 2024.

“emoluments” has the same meaning as it has in Chapter 4 of Part 42.

“employee” has the same meaning as it has in Chapter 4 of Part 42.

“employer” has the same meaning as it has in Chapter 4 of Part 42.

“employer contribution” has the same meaning as it has in the Act of 2024.

“investment management provider” has the same meaning as it has in the Act of 2024.

“participant” has the same meaning as it has in the Act of 2024.

“participant account”, in relation to a participant, means the account maintained for the participant by the Authority under section 76 of the Act of 2024.

“participant contribution” has the same meaning as it has in the Act of 2024.

“personal representative” has the same meaning as it has in Part 5 of the Act of 2024.

“redemption date” shall be construed in accordance with Chapter 2 of Part 5 of the Act of 2024.

“redemption value”, in relation to units in an AE provider scheme on any date, has the same meaning as it has in Part 5 of the Act of 2024.

“Revenue officer” means an officer of the Revenue Commissioners.

“State contribution” has the same meaning as it has in the Act of 2024.

“unit”, in relation to an AE provider scheme, has the same meaning as it has in Part 4 of the Act of 2024.

Relevant Date: Finance Act 2024