The My Future Fund auto-enrolment pension scheme will begin in January, affecting workers aged 23 to 60 earning over €20,000 without a pension plan. A survey revealed over 80% of Irish adults find it fair to automatically enroll these workers, with 90% of eligible individuals likely to remain in the scheme. Financial experts see this as a positive trend but caution about potential misconceptions regarding financial security. A national awareness campaign has been launched, and the government is urged to avoid any further delays in implementation.
People who may have previously been putting off pension planning could see their auto-enrolment as a 'job done' moment, when in fact the scheme might not be the most suitable or sufficient option for their individual retirement needs.
Even more important than the fact that so many support the fairness of the auto-enrolment itself is the fact that so many of those eligible plan to remain in the scheme.
If nothing else, these results should be viewed by those with responsibility for the rollout as a compelling reason to ensure there are no further delays.
The findings showed a strong appetite for the scheme and signalled a positive shift towards broader pension coverage.
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