Oireachtas Joint and Select Committees
Thursday, 11 October 2018
Joint Oireachtas Committee on Social Protection
Automatic Enrolment Retirement Savings System: Discussion
10:00 am
Mr. Robert Nicholson:
What we have said is that it would be 0.5% of an individual's contribution. If they are staying only for the first six or seven months and we know the wages that people are on are typically lower earners, it is very small, and literally a single euro. From the perspective we are taking with the straw man proposal, there is no intention to have it up at that level. It might reach that level later in the system when an individual is on higher earnings and making 6% but they are staying in the system so they are paying for the service they receive. It is very different compared to current charging structures.
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