What possible impact will Auto-Enrolment have?
The introduction of Auto-Enrolment marks a significant shift in the country's pension landscape. For employers, this brings important changes and responsibilities that will impact both their business operations and their employees. In this video series aimed at employees, we provide a comprehensive overview of the Auto-Enrolment system, highlight the key considerations for employees, and explain the differences between the Auto-Enrolment scheme and typical company pension schemes.
Watch the following videos to learn more:
- Let's talk about Auto-Enrolment. In this video, we discuss what Auto-Enrolment is, how it works, and its potential impact on both companies and their staff in Ireland.
- The second video explains the differences between the Government's Auto-Enrolment system and a company pension scheme.
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My Future Fund' will be introduced in January 2026. It also requires a fundamental and potentially significant financial change for non-pension scheme members – with the potential to impact their relationship with their employer.
Similar legislation was introduced in the UK and WTW consultants worked with many companies to implement the solutions required to meet the legislation and deliver employee engagement and education programmes. Our Irish team have worked closely with their UK colleagues to develop expertise and insights in this complex area so we can assist our clients. We can also help clients via our Auto-Enrolment readiness assessment service the key areas that we are advising clients on are:
- Understanding the financial impact to the business of auto enrolment
- Consideration of the total reward offering for employees when this is introduced
- Consideration of the impact on member benefits
- Consideration of payroll complexities of having to enrol and allow members to opt out of pension scheme provision
- Considering the employee experience including assessing current sentiment and behaviour to drive desired outcomes, and how to build understanding and drive take-up of company pension schemes.
- Considering the design of the pension offering to ensure it meets the Auto Enrolment requirements
