Dáil Éireann Debate, Tuesday - 11 June 2024
17. Deputy Catherine Connolly asked the Minister for Social Protection further to Parliamentary Question No. 22 of 25 April 2024, to provide an update on the proposed automatic enrolment pension scheme; if the tender process has been completed to date; and if she will make a statement on the matter. [25428/24]
View answerThe introduction of an auto-enrolment retirement savings system is a Programme for Government commitment, and a key priority for me as Minister for Social Protection.
Implementation of the AE system has been gathering pace, with the intention to commence the scheme in early 2025. Its implementation will represent the single biggest reform of the pension system in the history of the State.
The legislation to underpin the system is currently in the Seanad, having already been passed by the Dáil in May. It is expected that the Bill will pass all stages this term.
A procurement exercise for a Managed Service for the Provision and Operation of the Automatic Enrolment Retirement Savings Scheme is well advanced; it is expected that a preferred bidder will be notified very shortly. A further procurement exercise for outsourced investment management services is also at an advanced stage of development and will commence in the coming months.
In parallel, discussions with the Revenue Commissioners regarding data exchanges to facilitate the identification of eligible participants have progressed and my officials are engaged in ongoing discussions with the Payroll Software Developers Association regarding AE.
A three-phase multichannel communications strategy has been developed, incorporating an awareness phase, an information phase, and a launch phase, and is being implemented on an ongoing basis. A range of direct communication activities and stakeholder outreach are already underway with a particular focus on employers, employer representatives and worker representatives.
While there remains much to be done in this ambitious project, considerable progress is being made on multiple workstreams.
I hope that this clarifies matters for the Deputy.
