Only 28% of those who will be paying into an upcoming pension scheme are aware of it, according to the Central Statistics Office (CSO).
From the September 30th 2025 workers between the age of 23 and 60 will be automatically enrolled in a new Government pension scheme.
However, despite being set to begin in nine months, most are still not aware of its existence.
Newstalk’s Business Editor Joe Lynam told Newstalk Breakfast that the scheme will see employees, employers and the State all contribute to workers pension funds.
“The employer will throw in one and a half per cent of your gross salary, the employee will pay one and a half per cent and the State will match that with a half of one percent,” he said.
Paper money in jar on wooden tableMr Lynam said that although awareness of the scheme is still low, it is increasing.
“According to the CSO, only 28% of the people who will be paying into an auto-enrolment – which starts in 9 months' time supposedly – are aware of it,” he said.
“Now of course, that is up ten percentage points from the 18% that knew about it in 2023.
"It was only introduced in 2022 to be fair - but it is going to be a massive change in the workplace.
“You’ll be automatically put into a pension saving scheme – to save for your own retirement by the way – and it will be coming out of your pay as well as the employer's pocket as well.”
The Automatic Enrolment Retirement Savings System Act 2024 was signed into law by President Higgins in July.
Ireland is the only OECD country that does not yet operate an auto-enrolment or similar system as a means of promoting pension savings.
