(LRC Revised)

Number 20 of 2024

AUTOMATIC ENROLMENT RETIREMENT SAVINGS SYSTEM ACT 2024

REVISED

Updated to 1 June 2026

Changes to legislation

as of 10 July 2026, this Act is up to date with all changes known to be in force.

This Revised Act is an administrative

consolidation of the

Automatic Enrolment Retirement Savings System Act 2024

. It

is prepared by the Law Reform Commission in accordance with its function under the

Law Reform Commission Act 1975

(3/1975) to keep the law under review and to

undertake revision and consolidation of statute law.

All Acts up to and including the

International Co-Operation (Omagh Bombing Inquiry) Act 2026

(12/2026), enacted 3 June 2026, and all statutory instruments up to and including

the

Automatic Enrolment Retirement Savings System Regulations (Amendment) Regulations

2026

(S.I. No. 215 of 2026), made 21 May 2026, were considered in the preparation of this

Revised Act.

Disclaimer: While every care has been

taken in the preparation of this Revised Act, the Law Reform Commission can assume

no

responsibility for and give no guarantees, undertakings or warranties concerning the

accuracy, completeness or up to date nature of the information provided and does not

accept any liability whatsoever arising from any errors or omissions. Please notify

any

errors, omissions and comments by email to revisedacts@lawreform.ie.

Number

20

of

2024

AUTOMATIC ENROLMENT RETIREMENT

SAVINGS SYSTEM ACT 2024

REVISED

Updated to

1 June 2026

CONTENTS

PART 1

Preliminary and General

Section

1. Short title and commencement

2. Definitions

3. Regulations

4. Service of documents

5. Expenses

PART 2

An Túdaráa NáisiÚnta um Uathrollú Coigiltis Scoir

Chapter 1

Establishment of An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir

6. Definitions (Part 2)

7. Establishment day

8. An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir

9. Functions of Authority

Chapter 2

Board of Authority

10. Establishment of Board

11. Membership of Board

12. Term of office

13. Conditions of membership of Board

14. Membership of either House of Oireachtas, European Parliament or local authority

15. Ineligibility to become and disqualification to act as member of Board

16. Removal of member of Board

17. Meetings

18. Audit and risk committee

19. Investment committee

20. Other committees

21. Remuneration and expenses of members of Board and committees of Board

22. Disclosure of interests by member of Board or of committee of Board

23. Disclosure of interests by members of staff of Authority or other persons

24. Prohibition on unauthorised disclosure of confidential information

Chapter 3

Staff of Authority, engagement of consultants, advisers and service providers

25. Appointment of chief executive

26. Functions of chief executive

27. Delegation of functions

28. Membership of either House of Oireachtas, European Parliament or local authority

29. Removal of chief executive

30. Staff of Authority

31. Engagement of consultants and advisers

32. Engagement of service providers

Chapter 4

Funding, reporting and accountability

33. Appearance before Public Accounts Committee

34. Appearances before committees of Houses of Oireachtas

35. Expenses of Authority

36. Power to borrow

37. Statement of strategy

38. Annual plan

39. Accounts and audits

40. Annual report

41. Request from Minister to Authority for report

42. Production of statistical data

43. Power to monitor, review and make recommendations

Chapter 5

Supervisory report by Pensions Authority

44. Supervisory report by Pensions Authority

45. Preparation and submission of supervisory report by Pensions Authority

46. Annual fee payable to Pensions Authority

PART 3

Enrolment and Contributions

Chapter 1

Preliminary

47. Interpretation (Part 3)

48. Death of employer

Chapter 2

Enrolment

49. Participants

50. Automatic enrolment

51. Exempt employment

52. Standards for purposes of section 51

53. Right to opt in

54. Right to opt-out

55. Automatic re-enrolment

56. Power to amend age limits and earnings threshold

Chapter 3

Contributions

57. Contributing participants

58. Contributions

59. Payment of participant contribution and employer contribution

60. Payment of State contribution

61. Rates of contribution

62. Suspension of contributions

63. Repayment of contributions on opting out

64. Repayment of contributions in prescribed circumstances

65. Power to amend earnings limit

Chapter 4

Further power to make regulations

66. Further power to make regulations

PART 4

Investment

67. Definitions (Part 4)

68. Investment management providers

69. AE provider schemes and risk levels

70. Assignment of contributions to appropriate risk level

71. Power to provide for selection of more than one risk level

72. Investment of contributions

73. Transfer between AE provider schemes

74. Investment rules

75. Contractual provision on environmental and other matters

76. Participants’ accounts

77. Amendment of Investment Intermediaries Act 1995

PART 5

Payment out of Accounts

Chapter 1

Interpretation and general

78. Interpretation (Part 5)

79. Notification and verification of death

80. Provision of benefits under arrangements made by Authority

Chapter 2

Payment, other than early payment, to or in respect of participant

81. Redemption date

82. Redemption of units

83. Payment to participant at or after pensionable age

84. Payment in the event of death of participant

Chapter 3

Early payment on grounds of incapacity or exceptional ill-health

85. Application for early payment on grounds of incapacity or exceptional ill-health

86. Redemption of units for early payment

87. Making of early payment

88. Procedure for applications and payments under Chapter 3

Chapter 4

Unclaimed balances

89. Interpretation (Chapter 4)

90. Unclaimed balances

91. Notice of unclaimed balance

92. Publication of notice

93. Transfer of moneys to Dormant Accounts Fund

94. Register of unclaimed balances

95. Disclosure of information for statistical purposes

96. Rights of participants

97. Application for unclaimed balance

98. Confidentiality

99. Statement of compliance

PART 6

Communications and Services

100. Definitions (Part 6)

101. Electronic system to be used by default

102. Provision of information to public by Authority

103. Provision for communications and services otherwise than online

104. Powers to make provision for purposes of communications and services

105. Participants’ annual statements

106. Amendment and application of Freedom of Information Act 2014

PART 7

Information Sharing and data Protection

107. Definition (Part 7)

108. Information sharing

109. Disclosure of certain information to Minister for Enterprise, Trade and Employment,

etc.

110. Amendment of Social Welfare Consolidation Act 2005

111. Processing of personal data and special categories of personal data

112. Regulations for purposes of data protection

PART 8

Reviews and Appeals

113. Definitions (Part 8)

114. Determinations subject to internal review

115. Appeals officer

116. Appeals

117. Appeal to High Court

118. Effect of decision

119. Amendment of Financial Services and Pensions Ombudsman Act 2017

PART 9

Compliance and Enforcement

Chapter 1

Interpretation

120. Interpretation (Part 9)

Chapter 2

Authorised officers and compliance

121. Authorised officers

122. Powers of authorised officers

123. Compliance notice

124. Fixed payment notice

125. Legal privilege

126. Authority may publish information respecting certain persons

Chapter 3

Penalisation and hindering of employees

127. Protection of employees from penalisation

128. Hindering employee from participating in automatic enrolment

Chapter 4

Workplace relations

129. Decision under section 41 or 44 of Act of 2015

130. Amendment of Act of 2015

Chapter 5

Offences

131. Offences in relation to contributions

132. Offences and penalties

133. Summary proceedings

134. Costs

135. Time limit for instituting summary proceedings

136. Admissibility of certain documents in proceedings for offence

137. Presumptions in proceedings for offence

Chapter 6

Miscellaneous

138. Interest on arrears of contributions

139. Court may order employer or employee to pay arrears of contributions

140. Forgery of documents

141. Recovery of moneys

Acts Referred to

Central Bank Act 1942

(No. 22)

Civil Legal Aid Act 1995

(No. 32)

Civil Service Regulation Act 1956

(No. 46)

Civil Service Regulation Acts 1956 to 2005

Companies Act 2014

(No. 38)

Comptroller and Auditor General (Amendment) Act 1993

(No. 8)

Data Protection Act 2018

(No. 7)

Dormant Accounts Acts 2001 to 2012

Ethics in Public Office Act 1995

(No. 22)

European Parliament Elections Act 1997

(No. 2)

Financial Services and Pensions Ombudsman Act 2017

(No. 22)

Freedom of Information Act 2014

(No. 30)

Interpretation Act 2005

(No. 23)

Investment Intermediaries Act 1995

(No. 11)

Local Government Act 2001

(No. 37)

Pensions Act 1990

(No. 25)

Personal Injuries Resolution Board Act 2022

(No. 42)

Petty Sessions (Ireland) Act 1851

(14 & 15 Vict., c. 93)

Protected Disclosures (Amendment) Act 2022

(No. 27)

Protected Disclosures Act 2014

(No. 14)

Public Service Management (Recruitment and Appointments) Act 2004

(No. 33)

Safety, Health and Welfare at Work Act 2005

(No. 10)

Social Welfare Consolidation Act 2005

(No. 26)

Student Support Act 2011

(No. 4)

Succession Act 1965

(No. 27)

Taxes Consolidation Act 1997

(No. 39)

Unfair Dismissals Acts 1977 to 2015

Unit Trusts Act 1990

(No. 37)

Work Life Balance and Miscellaneous Provisions Act 2023

(No. 8)

Workplace Relations Act 2015

(No. 16)

Number

20

of

2024

AUTOMATIC ENROLMENT RETIREMENT

SAVINGS SYSTEM ACT 2024

REVISED

Updated to

1 June 2026

An Act to provide for the establishment of a body to be known as

An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir

; to provide for that body to establish, maintain and administer an automatic enrolment

retirement savings system for employees in employment not covered by qualifying schemes;

to provide for automatic enrolment and re-enrolment of participants in that system

and for opting into and out of the system; to provide for payment of contributions

by participants, their employers and the State, the investment of contributions and

the payment of retirement savings out of participants’ accounts; to provide for the consequential amendments of certain enactments; and

to provide for related matters.

[9

th July

, 2024]

Be it enacted by the Oireachtas as follows

CONTENTS

PART 1

Preliminary and General

Section

1. Short title and commencement

2. Definitions

3. Regulations

4. Service of documents

5. Expenses

PART 2

An Túdaráa NáisiÚnta um Uathrollú Coigiltis Scoir

Chapter 1

Establishment of An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir

6. Definitions (Part 2)

7. Establishment day

8. An tÚdarás Náisiúnta um Uathrollú Coigiltis Scoir

9. Functions of Authority

Chapter 2

Board of Authority

10. Establishment of Board

11. Membership of Board

12. Term of office

13. Conditions of membership of Board

14. Membership of either House of Oireachtas, European Parliament or local authority

15. Ineligibility to become and disqualification to act as member of Board

16. Removal of member of Board

17. Meetings

18. Audit and risk committee

19. Investment committee

20. Other committees

21. Remuneration and expenses of members of Board and committees of Board

22. Disclosure of interests by member of Board or of committee of Board

23. Disclosure of interests by members of staff of Authority or other persons

24. Prohibition on unauthorised disclosure of confidential information

Chapter 3

Staff of Authority, engagement of consultants, advisers and service providers

25. Appointment of chief executive

26. Functions of chief executive

27. Delegation of functions

28. Membership of either House of Oireachtas, European Parliament or local authority

29. Removal of chief executive

30. Staff of Authority

31. Engagement of consultants and advisers

32. Engagement of service providers

Chapter 4

Funding, reporting and accountability

33. Appearance before Public Accounts Committee

34. Appearances before committees of Houses of Oireachtas

35. Expenses of Authority

36. Power to borrow

37. Statement of strategy

38. Annual plan

39. Accounts and audits

40. Annual report

41. Request from Minister to Authority for report

42. Production of statistical data

43. Power to monitor, review and make recommendations

Chapter 5

Supervisory report by Pensions Authority

44. Supervisory report by Pensions Authority

45. Preparation and submission of supervisory report by Pensions Authority

46. Annual fee payable to Pensions Authority

PART 3

Enrolment and Contributions

Chapter 1

Preliminary

47. Interpretation (Part 3)

48. Death of employer

Chapter 2

Enrolment

49. Participants

50. Automatic enrolment

51. Exempt employment

52. Standards for purposes of section 51

53. Right to opt in

54. Right to opt-out

55. Automatic re-enrolment

56. Power to amend age limits and earnings threshold

Chapter 3

Contributions

57. Contributing participants

58. Contributions

59. Payment of participant contribution and employer contribution

60. Payment of State contribution

61. Rates of contribution

62. Suspension of contributions

63. Repayment of contributions on opting out

64. Repayment of contributions in prescribed circumstances

65. Power to amend earnings limit

Chapter 4

Further power to make regulations

66. Further power to make regulations

PART 4

Investment

67. Definitions (Part 4)

68. Investment management providers

69. AE provider schemes and risk levels

70. Assignment of contributions to appropriate risk level

71. Power to provide for selection of more than one risk level

72. Investment of contributions

73. Transfer between AE provider schemes

74. Investment rules

75. Contractual provision on environmental and other matters

76. Participants’ accounts

77. Amendment of Investment Intermediaries Act 1995

PART 5

Payment out of Accounts

Chapter 1

Interpretation and general

78. Interpretation (Part 5)

79. Notification and verification of death

80. Provision of benefits under arrangements made by Authority

Chapter 2

Payment, other than early payment, to or in respect of participant

81. Redemption date

82. Redemption of units

83. Payment to participant at or after pensionable age

84. Payment in the event of death of participant

Chapter 3

Early payment on grounds of incapacity or exceptional ill-health

85. Application for early payment on grounds of incapacity or exceptional ill-health

86. Redemption of units for early payment

87. Making of early payment

88. Procedure for applications and payments under Chapter 3

Chapter 4

Unclaimed balances

89. Interpretation (Chapter 4)

90. Unclaimed balances

91. Notice of unclaimed balance

92. Publication of notice

93. Transfer of moneys to Dormant Accounts Fund

94. Register of unclaimed balances

95. Disclosure of information for statistical purposes

96. Rights of participants

97. Application for unclaimed balance

98. Confidentiality

99. Statement of compliance

PART 6

Communications and Services

100. Definitions (Part 6)

101. Electronic system to be used by default

102. Provision of information to public by Authority

103. Provision for communications and services otherwise than online

104. Powers to make provision for purposes of communications and services

105. Participants’ annual statements

106. Amendment and application of Freedom of Information Act 2014

PART 7

Information Sharing and data Protection

107. Definition (Part 7)

108. Information sharing

109. Disclosure of certain information to Minister for Enterprise, Trade and Employment,

etc.

110. Amendment of Social Welfare Consolidation Act 2005

111. Processing of personal data and special categories of personal data

112. Regulations for purposes of data protection

PART 8

Reviews and Appeals

113. Definitions (Part 8)

114. Determinations subject to internal review

115. Appeals officer

116. Appeals

117. Appeal to High Court

118. Effect of decision

119. Amendment of Financial Services and Pensions Ombudsman Act 2017

PART 9

Compliance and Enforcement

Chapter 1

Interpretation

120. Interpretation (Part 9)

Chapter 2

Authorised officers and compliance

121. Authorised officers

122. Powers of authorised officers

123. Compliance notice

124. Fixed payment notice

125. Legal privilege

126. Authority may publish information respecting certain persons

Chapter 3

Penalisation and hindering of employees

127. Protection of employees from penalisation

128. Hindering employee from participating in automatic enrolment

Chapter 4

Workplace relations

129. Decision under section 41 or 44 of Act of 2015

130. Amendment of Act of 2015

Chapter 5

Offences

131. Offences in relation to contributions

132. Offences and penalties

133. Summary proceedings

134. Costs

135. Time limit for instituting summary proceedings

136. Admissibility of certain documents in proceedings for offence

137. Presumptions in proceedings for offence

Chapter 6

Miscellaneous

138. Interest on arrears of contributions

139. Court may order employer or employee to pay arrears of contributions

140. Forgery of documents

141. Recovery of moneys

Number

20

of

2024