Follow Us
info@pensionfreedom.ie 087-240 7995

Blog

Home / Blog / Employer Pension Obligations

Employer Pension Obligations

10/22/2018

Here is some very useful information from the Consumers Association of Ireland regarding Employer Pension Obligations.

Since 2003 employers are obliged, by law, to provide all employees with access to a pension. As mentioned above, where there is no company pension in place or where some employees cannot access that company pension the employer must allow access to a Personal Retirement Savings Account (PRSA) provider.

The obligations involved in providing access to a PRSA provider consist of three simple steps on the part of the employer –

  1. To assign a PRSA provider- this involves the employer contacting a provider and establishing an individual within the provider as their contact point.
  2. To issue the PRSA provider and contact details to the employees and to allow them time during working hours to make contact with the provider and get the information they need.
  3. If the employee decides to start contributing to a PRSA with the designated provider the employer must make the relevant deductions from payroll.
 

More Posts

How Does My Pension Savings Compare?

03/08/2019

“How am I doing for my age” This is a question I often get asked One way we tend to look for answers is by comparing what we have to what our[...]
read more

What is Lifestyle Financial Planning all About?

02/20/2019

Many people who have just begun working with us are surprised by how our planning process starts We don’t begin by talking about your current[...]
read more

4 Tips to ease you into Retirement

02/06/2019

There are many reasons why people who could retire are hesitant to do so Some people think they need to wait until they’re 65 or older Others are[...]
read more

Keep up to dateSign up to our Newsletter today and get your FREE Guide to Investing

By using this form you agree with the storage and handling of your data by this website. Please check our Privacy Policy for more information on how we protect and manage your data.