In the Media: Stephen Gillick on Auto-Enrolment

Employers face a rise in pension obligations from January as the State’s auto-enrolment scheme comes into force. With last-minute regulatory changes and ongoing uncertainty about auto-enrolment rules, clear and expert guidance is essential.

Stephen Gillick, Head of Pensions, was interviewed by The Irish Times on the arrival of auto-enrolment pensions and what the changes mean for employers and employees. He outlined the practical impact of the new My Future Fund and how it compares with existing occupational schemes. His expertise clarifies the landscape for businesses navigating this complex transition.

Download our Comparison Table

The interview addressed concerns that some employers may be enrolling staff in lower contribution schemes to limit future costs.

Stephen highlighted the Government's swift regulatory response. The Department of Social Protection has announced a new minimum total contribution rate of 3.5% from 1 January, with at least 1.5% coming from the employer. Employee consent will also be required before enrolment into a pension scheme. He commented:

“The changes will have significant implications for certain arrangements, particularly non-contributory schemes and structures where employees receive reduced pension contributions."

Read our Related Insight

Stephen also noted that My Future Fund will support long-term saving. The full impact will build over time, as contribution rates rise from 1.5% to 6% over 10 years.

Read the full article on the Irish Times website. You can also read our related insight on the introduction of minimum pension contribution rates.

For more information and expert advice on navigating auto-enrolment obligations, contact a member of our Pensions team.