Two thirds of people do not have any private pension provision

Around two thirds of people do not have any private pension provision.

Taoiseach Leo Varadkar says it is something that will have to be addressed, and he is looking at starting an auto-enrolment scheme which will begin in 2021.

Taoiseach Leo Varadkar says it is something that will have to be addressed, and he is looking at starting an auto-enrolment scheme which will begin in 2021.

It would see people automatically signed up to a pension scheme with their employer.

Leo Varadkar says it has been proven to work in other countries.

He said: "People can opt out if they want to but we know from other countries experiences that once it is set up for people and once they are paying into the fund they tend not to opt out.

"They seem themselves the long term benefits of having a pension and the only way you can have a decent pension is if you're paying in for several decades and we want to make sure that everyone has the opporunity to do that.

"There will be a lot of work done on that next year."

Digital Desk

 

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