25 Longford companies attend Auto-Enrolment Savings Scheme Business Briefing

Organised by Local Enterprise Office, Longford in collaboration with RBK Chartered Accountants 

Press Release: Tuesday, 17 December 2024 

Twenty-five County Longford companies attended an Auto-Enrolment Retirement Savings Scheme Business Briefing which took place in the Longford Arms Hotel on Thursday, 5 December. The event was organised by Local Enterprise Office, Longford. 

At the event, RBK Chartered Accountants delivered a presentation on the implications of the upcoming Auto-Enrolment Retirement Savings Scheme, which is due to be implemented 30 September 2025. This included information on the benefits of the scheme, how it will be funded, how to manage the scheme through existing payroll administration methods and important considerations for human resource departments. 

The Auto-Enrolment Retirement Savings Scheme, also called My Future Fund is a new pension savings scheme for certain employees who are not paying into a pension. Under the scheme, the employee, employer, and the Government all pay a certain amount into the employee's pension fund. 

A new public body, the National Automatic Enrolment Retirement Savings Authority, will be set up to administer the Auto-enrolment scheme. The scheme will be supervised by the Pensions Authority. The rules for auto-enrolment are set out in the Automatic Enrolment Retirement Savings System Act 2024. 

Speaking at the Business Briefing event, Longford County Council Head of Enterprise Michael Nevin said, "The new auto-enrolment scheme is a significant and positive change in how workers will be provided for in their retirement. As with any large-scale change there will be challenges to overcome in its implementation. Longford County Council, through the Local Enterprise Office, is committed to taking a proactive approach to ensuring that local companies are fully informed and prepared for this change. Should any further help be needed, the Local Enterprise Office is here to help."

Local Enterprise Office, Longford is part Longford County Council. To learn more about the Local Enterprise Office, visit LocalEnterprise.ie/Longford or follow us on Facebook, Instagram and X.