Gerald Nash (Louth, Labour)
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1374.To ask the Minister for Employment Affairs and Social Protection the estimated full-year cost of the auto-enrolment pension scheme in 2025; and if she will make a statement on the matter. [32730/24]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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The introduction of an automatic enrolment (AE) retirement savings system is a Programme for Government commitment and a key priority for me as the Minister for Social Protection.

Implementation of the AE system is now well underway, with the recent enactment of the Automatic Enrolment Retirement Savings System Act 2024 and the announcement of Tata Consultancy Services (TCS) as the preferred bidder for the provision of a managed service for the provision and operation of the Automatic Enrolment Retirement Savings Scheme. TCS will work under contract to the National Automatic Enrolment Retirement Savings Authority (NAERSA), which is being established to administer and regulate the AE retirement savings system on behalf of its participants.

These are major milestones that now facilitate Auto Enrolment becoming a reality in 2025.

My Department is now focused on working to arrange the implementation plans and timelines of administrative services, to resource and establish NAERSA, to conduct the procurement of investment managers as soon as possible, and to establish the costing and financing structure to support the service provision. Proposals in this respect will be brought to Government in the autumn and made available publicly once agreed.