Budget 2025
Minister for Finance, Jack Chambers, and Minister for Public Expenditure, National Development Plan Delivery and Reform, Paschal Donohoe, presented Budget 2025 to the Dáil today. There was very little reference to pensions, other than a €12 increase to the weekly State Pension which will bring the maximum payment to €289.30 per week or just over €15,000 per annum.
Auto-Enrolment
The Minister for Social Protection, Heather Humphreys T.D., announced at the weekend that Auto-enrolment will commence on 30th September 2025. In our pre-Budget submission, we had asked for a firm date that can be adhered to. While it would be good to see a detailed timetable of how this will now be achieved, we welcome the relative certainty it provides to employers and employees. It is also notable that the Budget 2025 Expenditure Report shows an allocation of €13m as the State’s Top-Up to the “My Future Fund” from September 30th 2025. This would imply that the total contributions to the new auto-enrolment fund for the final quarter of 2025 will amount to €91m with €39m each from employers and employees and the total contributions to the fund in a full year would be €364m.
The Pensions Authority: Annual Report and Accounts 2023
The Pensions Authority have published their Annual Report and Accounts for 2023. The Pensions Regulator, Brendan Kennedy, has also issued a statement. Full details are available in English here nó as Gaeilge anseo.