Most people who are due to be signed up for new pension scheme unaware of it

The new auto-enrolment pension scheme, named My Future Fund, is set to launch next September, representing a significant change in Ireland's pension landscape.

Only 29% of eligible employees aged between 23 and 60 are aware of the Government's auto-enrolment retirement savings scheme, revealing a major gap in awareness.

Affordability issues are the primary reason cited by half of workers aged 55 to 69 for not having supplementary pension coverage, emphasizing the financial challenges many face.

Despite low awareness, 72% of employees aware of the auto-enrolment scheme express willingness to remain in it, showcasing a desire for better retirement planning.

Read at Irish Independent