The My Future Fund auto-enrolment pension scheme launches in January 2024, affecting workers aged 23 to 60 earning over €20,000. Over 80% of Irish adults surveyed support the automatic signing up of workers into this scheme. Most eligible workers are likely to remain enrolled after the six-month opt-out option. Financial experts indicate a positive shift towards pension coverage but caution against complacency regarding individual retirement needs. The government is urged to proceed without further delays, reflecting public support for the initiative.
"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."
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