A Clare Credit Union Manager insists an urgent information campaign is needed surrounding the Government’s new auto-enrollment pension scheme to be introduced later this year.
The new scheme will apply to all employees between the age of 23 and 60 earning over €20,000, who don’t currently have a pension plan.
Under the scheme, employees earning 30K per year would initially pay €37.50 a month, which would be matched by employers, while government would provide a €12.50 top up.
Manager of St. Francis Credit Union in Ennis, Louis Fay believes many businesses will be put out by the scheme.
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