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Joint Oireachtas Committee on Social Protection: General Scheme of the Automatic Enrolment Retirement Savings System Bill 2022: Discussion (Resumed) (18 Jan 2023): ...we also want to see within the AE scheme. Under law, every occupational scheme must provide either access to additional voluntary contributions, AVCs, or a personal retirement savings account, PRSA, that allows additional AVCs. This allows a person to increase his or her contributions. We are putting in place schemes and trying to encourage savings, and yet we are blocking any...
Joint Oireachtas Committee on Social Protection: General Scheme of the Automatic Enrolment Retirement Savings System Bill 2022: Discussion (Resumed) (18 Jan 2023): .... Its role is to supervise compliance with the requirements of the Act by trustees of occupational pension schemes and trust retirement annuity accounts, RACs; personal retirement saving account, PRSA, providers; registered administrators, RAs; and employers. We also investigate suspected breaches of the 1990 Act; conduct on-site inspections and compliance audits; instigate prosecutions...

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